NZD/CADAusbildung
How to scale into the impulsive phrase of the market condition?
Hello everyone:
I want to go over an important topic of scaling into the market. This is something more advanced in my opinion, and should be used cautiously when applicable.
First you will need to understand that it's important to fully accept the risk when you try to scale in a trade.
Essentially you are doubling down on a trade when you do so. What is your risk management when it comes to scaling in ?
Second thing to watch out for is managing your first initial position.
I would generally move my SL to at least BE or in 1:1 profit. This way even if the second trade that I scale in end up to be a lost, I am BE overall on the two trades.
Third point to remember is before you scale in the trade, is there enough R:R to justify it?
No random entries just because there is a continuation correction on the 5 min chart as an example.
Some price action must be present and give you enough confidence that the price is likely to continue from a structure, and then look to scale in the trade.
Any questions or comments please let me know :)
Thank you
I want to go over an important topic of scaling into the market. This is something more advanced in my opinion, and should be used cautiously when applicable.
First you will need to understand that it's important to fully accept the risk when you try to scale in a trade.
Essentially you are doubling down on a trade when you do so. What is your risk management when it comes to scaling in ?
Second thing to watch out for is managing your first initial position.
I would generally move my SL to at least BE or in 1:1 profit. This way even if the second trade that I scale in end up to be a lost, I am BE overall on the two trades.
Third point to remember is before you scale in the trade, is there enough R:R to justify it?
No random entries just because there is a continuation correction on the 5 min chart as an example.
Some price action must be present and give you enough confidence that the price is likely to continue from a structure, and then look to scale in the trade.
Any questions or comments please let me know :)
Thank you
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