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Here is another Monday Trade, done on Wednesday.
I was tempted to do a 100 pip stack on this trade because price had moved so far away from the Weekly Pivot, but I decided to just do a 50 pip stack. I am experimenting and backtesting variations of this strategy so until I feel really comfortable with larger stacks, I’m just going to stick to smaller ones.
This time I varied from the original method and instead of increasing my lost sizes as I got closer to the target, I just used the same number of lots for each entry. This trade opened a total of 40 lots.
If this actually happened on Monday, then I probably would have done the 100 pip stack, but as it gets later in the week, I usually tone it down. NFP is this week too, so I do not want to be caught in any big trades.
Anyway, the trade worked out as planned. I made a total of +14.9% on the account and it made for a great week of trading for me. I will post my thoughts as I continue to backtest this strategy.
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