Utilizes the following
1. Money management
2. Break Even
3. Trade the trendy
4. Base on Long time frame but trade short
1.
Using Paroli to 2x only. This is in caution if a trade go south with big lots. Aside from implementing BE (2), As a sequence any losses in either 1x or 2x is actually 1 losses only.
So a seq trade is either -1,-1 or 3
Added with BE its either -1,1,3. Pretty a good bargain.
2.
Always break even when trade profit reached $10. When on 1x it is its TP so it will close. But important when its on 2x as thats only 1/2 way. Why this is important is that it would break even when the level is reached. As its SL is not fixed or equal to TP it would avoid big potential losses if it goes south.
If it turn and hit break even, on the cumulative its a 1x win as 1-0=1 but if its hit its target thats 1+2=3.
Worst case scenario the 2x trade does not hit break even and go down south right away.
3.
Have the Currency Meter indicator to check on which trades are trendy. But ensure the spread is still cheap. Do this at a certain time of the day before London opens.
