Hello all,
I read with some amazement that people are using this strategy successfully! I dont understand how it could work?
Look at EUR/JPY on Friday. Imagine you went short Euro / Long Yen on this pair at 165.60 then a SL 50 pips away would have closed you out at 166.10.
The recommendation is to reopen your position at 165.60 - Have I understood this correctly?
The problem I have is that this pair will go back down to 165.50- and then back up again using this! This means you are losing time and time again.
Granted there may be times when it works in your favour but in my experience this is not the case.
Can anyone provide an example of this in use for a currency pair which has been successful?
Thanks all
BTW : I m new to this forum so please dont flame away - I m asking because I am interested in this technique.
I read with some amazement that people are using this strategy successfully! I dont understand how it could work?
Look at EUR/JPY on Friday. Imagine you went short Euro / Long Yen on this pair at 165.60 then a SL 50 pips away would have closed you out at 166.10.
The recommendation is to reopen your position at 165.60 - Have I understood this correctly?
The problem I have is that this pair will go back down to 165.50- and then back up again using this! This means you are losing time and time again.
Granted there may be times when it works in your favour but in my experience this is not the case.
Can anyone provide an example of this in use for a currency pair which has been successful?
Thanks all
BTW : I m new to this forum so please dont flame away - I m asking because I am interested in this technique.