Many ask what type of “strategy” it is that I use…
It’s called “Position Trading” where once entered, we don’t place a stop we instead manage the position into profit with dollar cost averaging.
It’s proven to be the highest win rate strategy available on standard currency pairs.
And now on runaway positions; using the new 10 PIP Hybrid feed, I will simply enter a hedge to protect the position until it comes back to the original TP; when you see this play out it will be amazing to say the least – as long as the hedge is entered at the right time; in the end that is a guess however 98% of the time will will end in a nicely profitable trade, the other 2% of the time will be break even or a small loss.
How to remove emotions from the process?
1. don’t over bid for you account size; what is the right bid, the one that causes you the least stress over your money (specific to you).
2. realize we don’t control the market and that trades DO NOT just go into an entry then profit every time; some percentage go against and must be held and accepted for the time the market takes to play out; we can’t control volume or movement so if we enter a trade and it takes 10 days to play out; that is not a stress moment for you to experience, patience and trust in our system is key; the new 10 PIP Hybrid will squash those feelings immensely if you bid properly for your account (which is specific to you and your risk appetite and long term goals).