GBPUSD - Long = Compound Trade entries - Awesome 24% growth
Hello all - DuncanForex here with a continuation compound trade
With my first entry hitting TP this morning, I am looking to get more entries now on the next cycle higher
Trades 1, 2 and 3 entered this morning at 1.2070 along with GBPJPY
Trade 1 TP Hit
Trades 2 & 3 Stop loss is now at entry point of 1.2072 - to take into account swaps.
Entries, 4, 5 and 6 are on a buy stop at 1.2095 area
Take Profit targets I have added to this chart to show what I am aiming for overall
Trade number and reward vs risk ratio
1 = 2 to 1
2 = 3 to 1
3 = 4 to 1
4 = 3 to 1
5 = 5 to 1
6 = 7 to 1
Risk profile of 1% per trade
Overall Risk at any one time = 3% as first trade is already TP. trades 2 & 3 are at break even before second 3 trades opened.
Total capital growth if this plays out is
24%
Risking 6% overall of capital with only 3% of it at risk at any single time (3 trades opened with 1% each)
I hope you find it interesting
Head over to my website to join and learn how to do this yourself
Cheers
Duncan
With my first entry hitting TP this morning, I am looking to get more entries now on the next cycle higher
Trades 1, 2 and 3 entered this morning at 1.2070 along with GBPJPY
Trade 1 TP Hit
Trades 2 & 3 Stop loss is now at entry point of 1.2072 - to take into account swaps.
Entries, 4, 5 and 6 are on a buy stop at 1.2095 area
Take Profit targets I have added to this chart to show what I am aiming for overall
Trade number and reward vs risk ratio
1 = 2 to 1
2 = 3 to 1
3 = 4 to 1
4 = 3 to 1
5 = 5 to 1
6 = 7 to 1
Risk profile of 1% per trade
Overall Risk at any one time = 3% as first trade is already TP. trades 2 & 3 are at break even before second 3 trades opened.
Total capital growth if this plays out is
24%
Risking 6% overall of capital with only 3% of it at risk at any single time (3 trades opened with 1% each)
I hope you find it interesting
Head over to my website to join and learn how to do this yourself
Cheers
Duncan
Comment:
If the buy stop doesn't activate for trades 4, 5 & 6 and trades 2 and 3 are hit at breakeven - it will be just 2% growth
Trade active:
Take profit hit for Trade Position 4 at TP1
Stop loss for Trades 2, 3, 5 & 6 all moved to 1.2100 area
Currently 5 to 1 achieved (2 to 1 + 3 to 1)
Looking for TP2 to be hit this afternoon - will keep stop loss close for trade entry 2 & 3 to lock in profit before weekend and let 5 & 6 play out into next week
Stop loss for Trades 2, 3, 5 & 6 all moved to 1.2100 area
Currently 5 to 1 achieved (2 to 1 + 3 to 1)
Looking for TP2 to be hit this afternoon - will keep stop loss close for trade entry 2 & 3 to lock in profit before weekend and let 5 & 6 play out into next week
Trade active:
