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We use two timeframes High And Low and will be represented as HTF and LTF
Based on Change of direction we Add lots to the next trade type:
So if were on htf the trend was buy and we had a buying entry 0.01 in loss and the sell signal comes up on higher timeframe the sell entry trade size should be higher than previous buy trade in order to cancel out the losses and make profit.
I want one that will send orders per new entry conditions once the higher timeframe agrees. We only go higher on trades sizes if the larger timeframe switches prevailing trend direction.
Now this should close winning trades upon new signal, if new signal meets the previous trade and it is in loss, then the new trade should aim to cover the loss as a total, so the take profit should be automatically set once the order is calculated to make profit at target which include charges of the spread, commission and swap etc.
Questions:
Can we have a breakeven spot then let the trade run, For e.g. the breakeven is 10 Pips but price is able to run about 120 pips but if i just take profit and close the trade it might be hard to get another entry down the as the price chart develops.
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