This style is Hedge trading, creating a full sized risk free position in both directions.
Closing 50% of each position at 2R creates a risk free position, should price move to the stop loss, profit for each position would be 0.75R
Closing 50% of each remaining position at 4R Secures 2R profit on all positions, should price move to the stop loss, profit for each position would be just over 1.9R
Closing 50% of each remaining position at 8R Secures 3R profit on all positions, should price move to the stop loss, profit for each position would be 2.875R
Comment
Huge amount of multitasking yesterday, I messed up the numbers
The following is correct:-
CLOSE 50% AT 2R, IF STOP HIT 0.5R CLOSING PROFIT
CLOSE 50% AT 4R, IF STOP HIT 1.75R CLOSING PROFIT
CLOSE 50% AT 8R, IF STOP HIT 2.875R CLOSING PROFIT
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.