first of all: sorry, too lazy to find a chart that fits, so i just painted something with my mad paint skills (sorry about that :D)
here is something i’m looking at.
i’m thinking about opening two different positions per trade setup, with different entrys, different PT and same SL, once my account has reached a size that i can trade 1% per position, so in total i would risk 1%+1%=2% per trade setup. the red lines are the two different entrys for shorts in this case, the gray line the stop loss. the green lines are the two PT’s. i found that the 3:1 RR ratio that SR player recommends can’t get reached sometimes, because there is another SR level in the way (the upper green line in this case). with another consolidation area in the way, it is sometimes hard for the price to breach through that level and it bounces back up (dashed line, also think: the bounce up could be a valid setup as well, which, however, is more likely to be countertrend). last week i took some trades with PT at the upper green zone (mostly around 2:1 RR, the picture is not accurate), which was the best to do most of the time. sometimes, however, it continued to the second green line for the 3:1 ratio.
so, that being said: i think about splitting entry points and PT for three reasons.
- possibly better entry prices on average. if you just have one entry point the possibility getting in at “the correct price” is very low.
- not missing good setups. that is, sometimes the prices retraces back right at the lowest point of the former low, sometimes it does not until the middle of a former consolidation area. i don’t like to place my only entry at the very low, because it results in a bad RR and i just need too much capital to set the SL at the desired level.
- psychological advantage. it’s just easier for me let the second position (with RR 3:1) run until it hits PT because i already booked some profit with the other position at the other PT (lets say 2:1 RR). after the first PT for 2:1 is reached i already can’t lose anymore. i’m not only break even, but i also already made safe 1% (i risk 1% on each trade, i win 2% with the first position, can only lose 1% with the second position = 1% safe).
wow, i just realized how hard it is for me to explain these kind of things in english. i really hope you can understand what i wrote. if there is something unclear, please ask, i would like you to understand this and get some positive or negative response.
what are your thoughts about that? do you have any experience with these kind of “splitting your positions”? any advice?
@SR player: have you tried something like this within your 8 years or so experience? if yes, what were your results and impressions? my guess is that you have tried something like that, but figured out that one position with 3:1 RR is the best. please let me know, really really curious!
having a cold beer now, 25 degrees and sunshine in germany 
so long
