Hi Everybody,
A nice DP long trade on the GBPUSD 60min chart has just been stopped out. As you can see from the chart, using the standard trade management guidelines this would have resulted in a nice +5R Profit approximately.
As you all know, I only like DP’s when they come at larger degree support / resistance or at the end of a nice 5-wave sequence, so let’s see this in the next post.
Notice how the automatic Position Sizing guided you how many lots to take for a constant initial risk. Correct Position Sizing is vital for long term trading success....
Thanks
Steve
A nice DP long trade on the GBPUSD 60min chart has just been stopped out. As you can see from the chart, using the standard trade management guidelines this would have resulted in a nice +5R Profit approximately.
As you all know, I only like DP’s when they come at larger degree support / resistance or at the end of a nice 5-wave sequence, so let’s see this in the next post.
Notice how the automatic Position Sizing guided you how many lots to take for a constant initial risk. Correct Position Sizing is vital for long term trading success....
Thanks
Steve
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