simon jousef's GTR trading room | Trading Reviews and Vendors


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simon jousef's GTR trading room

  #29 (permalink)

Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 429 since Apr 2015
Thanks: 1,034 given, 544 received


Eubie View Post
Cons:
- trades are done in multiples of 3 contracts with the same stop (e.g. 6 ticks), with targets being 5 ticks on two contracts and the last is left as a runner. As soon as the smaller targets are reached, the room operator will have made enough money for a "risk-free" trade where he goes for bigger profits. My problems with this is that the first two contracts have risk:reward < 1 which goes against all I feel is right.

That would make me uncomfortable, too, Daniel.

Still, it's a fairly time-honoured method: trade 3 lots with the first target set at half the SL or a little higher, the idea being to close those quickly, covering both dealing costs and the cost of the third lot which can then have a "free run". Joe Ross was teaching this over 30 years ago.

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