On longer TF’s, I always want to use multi-lot, but only less than half the trades ever make multi-lot. On a 4H TF, I’ll want to get about 50 pips profit before putting on the second lot. On a daily TF, I want about 85 pips profit before putting on the 2nd lot. If I’m up say 35 pips on a 4H trade and it turns on me, I won’t let it go negative. I’ll exit with 5 to 15 pips profit and look for a better entry. Half the time I get a better entry and half the time I don’t and I move on to another trade. I get a few small losses, a few small wins, and a very few huge wins. Small wins and losses are taken for granted as the cost of playing the game. We are really playing for the few huge gains. Expect just a few of those each week with intense trading. But they can be huge, really huge. Just don’t lose all your trading capital on the small stuff before you get there.
Not sure where that is, it’s probably down trend line, quote the whole post and I’ll fix it.
Graviton, we are very close to 50 pips profit on aud/usd
I know you already have to scheduled this
should I open second lot and let the first run for another 50
and then take 100 profit (first lot)
or
take 50 profit and open second lot?
how to move SL?
ok, never mind
you already gave me the answer 
usdjpy is doing nothing. I’ve decided that I’m not going to lose more than 24 pips on that trade. It still looks like a good trade on H4 and daily, but I have to limit loss somewhere, so sl to 90.56.
lower band looks good now
I just put the second lot on au and moved the first lot sl to BE. I will exit if both lots go back down so their sum goes between +5 to +15 pips. [B]I will not take a loss on this trade.[/B] Right now that doesn’t look like a problem and I’m scheduling the third lot. Many, perhaps most of these trades will exit for small pips won. A few will be bad entries and will exit for small pips loss. A few will be very successful and will exit for big pips. Winning big pips is our second goal. We can’t do that unless we leave lots on to run. Our first goal is not losing big pips. Small pips won or lost really don’t matter much, but small pips won is of course better than small pips lost.
what if I take profit now and open new 2 lots.
Graviton, you know I think its smart to start a squeeze with two lots as tymen recomended
I just forgot
Yes, usdjpy looks better now, but I’m keeping a tight stop on it anyway. I’m not going to take a large loss on a trade that’s not doing what I expect it to do.
It seems smart when it goes in your favor. But if you had two lots on usdjpy, you’d think it wasn’t so smart. This method is a little less agressive, but I’ll show you how to turn it into a massive pip generating factory if we get a third lot on today. Instead of worring so much, look for more good trades 
I should write a book on this subject. It’s 1000 times more difficult and complex than making a profit.
Step 1. Have a written trading plan.
Do you have one?
Going well with your trade as usual I see.
I hope to see you soon on the whiteboard again - we miss you.
Your input would be very valuable. 
[B]Robcore [/B]recorded my lesson last night so it should be available as a link soon.
I’ll take profit now
oh, your cat is smart 
not yet, it is still in progress :rolleyes:
now I work on trading rules first that I plan to embed to my trading plan
ok, I am making coffee
This is one of the big mistakes that new traders make in long term trading. You can’t make the big pips if you don’t let your lots run. If you don’t make the big pips, and I’m talking 500 or more, on a trade once or twice a week, you are just shuffling small pips back and forth, and spread will eat up all your trading capital eventually.
Remember when we first started? We said we were going in search of the fat tail of the market. This au trade is a fat tail. When you find one, you have to be brave enough to turn it into a big pip win.
This is by far the best thing you can do for your trading carreer. I highly encourage you to make it a top priority.
I like aud/cad today to trade long H4 but after current candle closed
what do you think?
PA right now trying to pass tru H4 donwtrend line
is it very simular to au?
hi tymen, thank you I will read your lesson tomorrow, where is the link?
Graviton, nzd/usd is good but kinda late to enter??
I like gbpusd even more
I’ll go long
looking at M1 for entry definiton