Nice, either way you "cut" it, but I do have to ask why the cover @ 5450...it is a little off the 5150 "whereabouts". My 'exercise" done @ 6650 for original profit (5) on accumulated stake. Look forward to Monday NiN
There is nothing wrong with taking profits early, as long as 2:1 has been reached. I took what was 'clearly' available at the time. P.S. or even 1:1 as in your case, to protect capital.
Once price goes past 2:1 you have 2 obvious choices either to wait 'till death do us apart' ie let it run as far as you can & then lock gain or if you are wrong trail stop to 2:1.
that was a nice call regardless. how deep can you let the whips go on the 2x? For instance if you take a micro account on forex which starts at .10/pip. If you take a range of about 30pips, you still suffer $3.00 DD to start. The progression is so fast that it seems small, but around 8 or 9 you have gone to a sizeable trade that could easily wipe out all prior trades in the month. I'm not doubting this method, I'm just curious to know how you would deal with it. I think the approach is very interesting. Entry - $3.00 1touch - $6.00 2touch - $12.00 3touch - $24.00 4touch - $48.00 5touch - $96.00 6touch - $192.00 By your 6th touch on a $2,000 account you have gone from a .25%ish DD to a 10%DD. Any ideas ?