Disliked{quote} I am the advocate of a rational trading more and not the pure gambling as your suggested way of trading seems to me to be. The statistical model shows that there is a slight chance of success if you try to catch some pips on the rebound of some "significant" price levels. There is a good chance, i.e. that EU would bounce off every 30 pips away from daily open (or so). However, such a blindfolded set off of pending orders (especially for all pairs) are nothing less than some sophisticated gambling (and yes, I do know, that it is true that...Ignored
Hi Big A, thanks for your reply.
QuoteDislikedlook to the price action at your chosen significant levels. Say, for intraday trading use 15 min TF to decide if price is going to bounce off of your level. Use very tight stop loss and try to take at least 2x profit than your SL.
do you mind to show an example of what you mean by the statement? I hope to improve the current system as you have pointed out.