Hi all,
I am keen to try out this method, i understand the main points of the method ie trade the break of a previous swing high or low with a 50 pip tp & sl, however my main concern is that most of my trades will be taken with pending orders as i have a busy day job.
i am interested to know what the success rate is for those of you who use pending orders, I understand that there has been a bit of a losing run recently but over the longterm how does it fare, on reading nicks ebook i get the impression there is a lot more analysis that goes into his trades rather than set & forget
also on setting the pending order do you set it to trigger when price makes a clear break of the scalp line by a few pips & then the tp & stop will also have to factor in the spread therefore with an 8 pip spread on gy my 50 pip trade could easily become a 40 or 38 pip trade on the profit side but on the losing side the 50 pip sl could lose 60 pips.
Im interested to know how you guys deal this
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