DislikedTeb..
The only problem I have is taking one lot out at 10 pips.. seems like when I have used this method, the overall % of the time that I get stopped out on the 2nd lot at break even is higher than if I had just stayed with 2 lots and either taken them both out at 10 pips or allowed them both to run.
Especially if I drop down to 5 min/1 minute for entries.
This system is very consistent in producing at least 10 pips per entry.Ignored
I should say "I do the EUR/USD 80%+ of the time"
For other pairs you need more
- for the USD/JPY or EUR/GBP or the EUR/JPY - 15 pip sl
(which would be the other three I do most of the time.)
- For the USD/CAD or AUD/USD a little more say 20
- For the BGP/USD or the EUR/CHF or the BGP/CHF at least 20
OR for an other way to do your SL
Put it below the the last swing on the 5 min, this is likely the best anyway.
BUT ... for the 1st lot always do 1:1 + spread
TEB