I've received a lot of questions about scaling. People have a hard time understanding the concept. So, here's my explanation.
I use the "Forex Auto-Scaler" EA. It's not an EA in the sense it trades for you. It's a "trade field builder." It gives you several points of control, i.e., lot size of add'l trades, number of add'l trades and # of pips between orders. This is the only way I'll look at a single pair nowadays.
Today, I saw that XAUUSD was in Sell mode. I opened a scaled trade, 4 addl w/3 pip spacing @1.0 lots ea. Origin order was also @1.0 lot. I hit a $2.2k profit in 8 minutes!! Right now, reversal is over and I have TWO scaled trades on the upside. It may flow into Tokyo time. I'll wait it out.
I use the "Forex Auto-Scaler" EA. It's not an EA in the sense it trades for you. It's a "trade field builder." It gives you several points of control, i.e., lot size of add'l trades, number of add'l trades and # of pips between orders. This is the only way I'll look at a single pair nowadays.
Today, I saw that XAUUSD was in Sell mode. I opened a scaled trade, 4 addl w/3 pip spacing @1.0 lots ea. Origin order was also @1.0 lot. I hit a $2.2k profit in 8 minutes!! Right now, reversal is over and I have TWO scaled trades on the upside. It may flow into Tokyo time. I'll wait it out.