i’m testing bracket orders, let’s say a bracket order is a recovery of 1 time. recovery x-times, i need to use a recovery bot, does it work or do you blow out your account?
I have researched it and tried it. I would say it works very well until you have a spate of bad luck. And then you will be broke.
Take a look at this guy’s clip -
Youtube something like “recovery trading strategy” or similar words.
I think its a clever theory.
i’ve watched some video’s and red about it.
but the question, in which situation did you blow out? is there a situation where recovery is “more safe” to use?
iow a pattern or is it random to blow out?
I think it will occur randomly, that is, the charts won’t warn when this will happen.
Its not a Martingale strategy but it has a similarity by which you are required to add capital to a losing trade in order to convert it into a winning trade. This strategy definitely requires demo trading to make sure position sizes and entries etc. are carefully mapped in advance.
But no amount of demo trading will show how to predict and avoid bad luck.
gee, short term trading will be difficult: there is too much noise, false break-outs etc. i only want to play the daily break-out, up-down doesn’t matter. i thought, i could counter the noise with recovery.