Lot Size and SL

I tried looking at your margindale strategy and a few other examples in the forum for this but just not getting it.

 

I want the trades to increase lot size every time we get a win by .1 but i want the SL always to remain a $$ figure.

 

So the same SL with 0.1 lot would be set at $100 (then after this successful trade)

 

Lot size increased to 0.2 lot but stayed at the same SL $100 set at (then after this successful trade)

 

Lot size increased to 0.3 lot but stayed at the same SL $100 (This trade lost)

 

So after loosing a trade then it would reset back to 0.1 lot.. Just start the process over again.

 

Can you help shed some light on how to get this done.. Thanks in advance

Hello, I can try to make an example for this.

Just a question: if you keep risk the same amount i.e $100 and you increase size to 0.2 you have to set SL to half of the distance used when trading 0.1 to be able to keep the dollar risk constant. Do I understand it correctly?

Yes.

1st trade and lot size would start at 10k lot, all I want to risk is $100 so in theory my SL is 100 pips

    If first trade is successful

THEN

2nd trade lot size increased to 20k, all I still want to risk is $100 so in theory my SL is 50 pips

   If second trade is successful

THEN

3rd trade lot size increased to 30k, all I still want to risk is $100 so in theory my SL is 33 pips

   If this trade is not successful and takes a loss

THEN

It goes back to the 10k lot and starts from their again..

Yes, this can be done. I will do an example for this money management rule

Thanks, will await your reply.

Hello,

 

I have created a sample strategy. Initial position is 0.1 lot with 100 pips SL. When it closes as a winning trade then position size is increased to 0.2 lots with 50 pips stop. When this trade closes as winning trade it opens new position with 0.3 lots and stop-loss is set to 33 pips.

 

After a losing trade or a winning trade (3rd win in a row) strategy restarts back to 0.1.

 

You can set PyramidUntilXTrade parameter to 10 (default is 3) so it will increase size up to 1.0 lot if you have streak of 10 winning trades in a row.

 

Target is set to 2x SL.

Thanks, I will review and let you know if I have any questions or issues.