Chart 14 - Final >>>
By
tymen1 at 2008-10-15
On this chart I show the cleaning operation.
The 2nd amount take profit order is still on the chart and it must be removed promptly.
If left there, we could unknowingly start a new trade.
This new trade would not be in our best interests.
So in this trade we only make 10 pips profit.
Still, this is better than making a loss.
Sure, we took a long time to make that 10 pips.
But lets not be greedy.
Not every trade turns a million pips in 5 minutes!!
We must learn to take the good trades with the not-so-good ones.
Be humble........and.......be thankful.
I just had another and updated look at our trade.
After the trade was finished, the price action started a long and massive downtrend.
It never came within a bulls roar of the 2nd profit target.
So if we had traded just one amount, we would have lost that trade completely.
The price action would have range traded, then gone on to hit our stop loss.
So you can now see the power of the Multiple Amount Strategy on this Basic level.