AUDCAD
Reduction trade
-1.0%
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I am of the opinion that taking transactions closer to the intense zones on MML Grids is a reasonable approach.
If price takes you out then its only a tiny relative reduction when compared with the TP pips on offer should price on your favor and proceed into the opposite extreme zone.
Typically the MML trading range is between 0/8 and 8/8 with the 2 additional octives top and bottom to finish a 12 octave range.
The conflict is having price persist into the target news and additional factors undo the transactions advancement.
Never a dull moment in this business.
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Its a very simple Excel template.
Go to Insert Tab gt;gt; Insert Column Sparklines gt;gt; Select the row of data and the destination cell and voila a miniature chart is drawn showing comparative trade outcomes.
Hope that helps.
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Hi MasterMind,
I love to understand what's....Is that from a spreadsheet you made or a program of some type?
Thank you,
Jeff
One of the reasons why we attempt to spread the risk over a few transactions.
There will always be many that do not work out.
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I am Hoping for the price to go UP for the EURGBP while the EURUSD and the GBPUSD are going to the Downside