Double the account
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DislikedSo the concept is simple: You choose a reference point, for example London open. Then you place N buy stop orders above the reference point and N sell stop orders below the same reference point. The distance between the orders is fixed, for example every 10 pips. The DD or max loss is fixed regardless where the price goes. Two questions come to mind: 1- What's wrong with the concept? 2- When to take profit? Regards ZIgnored
DislikedSo the concept is simple: You choose a reference point, for example London open. Then you place N buy stop orders above the reference point and N sell stop orders below the same reference point. The distance between the orders is fixed, for example every 10 pips. The DD or max loss is fixed regardless where the price goes. Two questions come to mind: 1- What's wrong with the concept? 2- When to take profit? Regards ZIgnored
Disliked{quote} That would work like a charm if you can catch breakouts 100% of the time and avoid choppy markets, Can you do this? Of course no, and No one can...So what happens then...The market would tear your account apart ranging which leaves you openning a lot of orders in one direction and all of a sudden market reverses direction to find yourself holding several positions in the wrong direction, accumulating many losing positions simultaneously which eventually leads to a Margin Call...RegardsIgnored
Disliked{quote} A constant pip value translates to a move of a different magnitude across different instruments. Thats something to consider. Btw, whats grid hedging?Ignored
Disliked{quote} Not necessarily true, if N is 3 and the distance is 10 pips, that means you'll have 3 longs and 3 shorts over 60 pips range? How many days can a pair range over 60 pips range? very few I would say. For a Margin Call, you wouldn't get it, since you close the grid even with a loss and start the next following day. Regards ZIgnored
Disliked{quote} I've tried this before and it doesn't work as you're thinking in real markets, wanna know why? Well we have 3 scenarios here; 2 bad scenarios and 1 good scenario. Scenario 1 (bad): Market goes up 30 pips activating all 3 buy orders on the way up, but it doesn't go any higher, then falls back to the open of day or session.. let's say it fell 70-80 pips activating all 3 sell orders...Result of the scenario is a net loss and it could be huge because when price went back to your starting point (open of the day or session) you're already holding...Ignored
Disliked{quote} True but 100%. There are more scenarios: 1 long, 2 shorts 1 long, 3 shorts 2 long, 3 shorts 1 shorts, 2 long 1 shorts, 3 long 2 shorts, 3 long So now you have 8 scenarios, only one is a loss: 3 shorts, 3 longs, all other 7 are a win. Regards. ZIgnored
DislikedSo the concept is simple: You choose a reference point, for example London open. Then you place N buy stop orders above the reference point and N sell stop orders below the same reference point. The distance between the orders is fixed, for example every 10 pips. The DD or max loss is fixed regardless where the price goes. Two questions come to mind: 1- What's wrong with the concept? 2- When to take profit? Regards ZIgnored