Basic idea is borrowed from FxTradePro's thread on the subject. The foll formula may seem useful to some as it does to me.
TP= 200
SL= 100
Starting with 10000 USD equity, enter a trade in the direction of the daily trend. If TP is hit. Start the process all over again.. If SL is hit, enter in opposite direction with the foll Sequence of Mini Lots:
1 1 1 2 3 5 7 11 16 23 36
Any time TP is hit during the sequence, a minimum 100 pip is banked. It would be very rare that TP is not hit even after 11 SLs. Back test shows it never happened in the past several years. Tested on EUR/USD.
TP= 200
SL= 100
Starting with 10000 USD equity, enter a trade in the direction of the daily trend. If TP is hit. Start the process all over again.. If SL is hit, enter in opposite direction with the foll Sequence of Mini Lots:
1 1 1 2 3 5 7 11 16 23 36
Any time TP is hit during the sequence, a minimum 100 pip is banked. It would be very rare that TP is not hit even after 11 SLs. Back test shows it never happened in the past several years. Tested on EUR/USD.