Entry at Breakout Level. Target 50 pips. Enter at breakout level or can wait for pullback after the breakout has occured.
What I do is I place my trade at the breakout price level then set my stop 25 pips below that. If we are right in direction and we have met half-way to our target at 25 pips above our entry we will then move our stop to our entry price . This way if price comes back and hits our stop we breakeven. If we lose 25 pips and price reverses breaking the opposite price level of our initial direction we will re-enter at the breakout price level and try again for 50 pips but this time in the new direction.
Once again if meeting half way to target at 25 pips you can either exit here and breakeven on the trade making your 25 pips back that were previously lost or you can move stop to entry price and try your luck. for 50 pips on second entry in order to recover losses and gain 25 pips total.
The strategy is not over until it is complete. We want to either break even or make money . That's it!
Good Luck and don't forget to check us out on our website. Thank You.
What I do is I place my trade at the breakout price level then set my stop 25 pips below that. If we are right in direction and we have met half-way to our target at 25 pips above our entry we will then move our stop to our entry price . This way if price comes back and hits our stop we breakeven. If we lose 25 pips and price reverses breaking the opposite price level of our initial direction we will re-enter at the breakout price level and try again for 50 pips but this time in the new direction.
Once again if meeting half way to target at 25 pips you can either exit here and breakeven on the trade making your 25 pips back that were previously lost or you can move stop to entry price and try your luck. for 50 pips on second entry in order to recover losses and gain 25 pips total.
The strategy is not over until it is complete. We want to either break even or make money . That's it!
Good Luck and don't forget to check us out on our website. Thank You.
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-25 pips.