Hello traders,
This is my first post on the forum, so sorry if this subject has already been discussed.
I have developed my own EA based on RSI divergences + ADX, that gives me good entries maybe 95% of the time. And then there’s that 5% when the trend is too strong and will go against me (by going on divergences, I am basically going against the last trend)
I have tried:
- grid technique - adding at fixed intervals or at expanding intervals
- starting small and growing the position size (or viceversa)
- locking the trades at a certain drawdown amount (so if I have 1 lot buy, I enter a 1 lot sell to stop the drawdown) -> but then I have to unlock them and decompose 2 trades
What can I do? I aim for about 100 points profit (10 pips) so a stop loss would eat a lot of that profit. Is there a solution or is managing risk impossible in the whole concept of scalping?