Alternative Forex Trade Setup for GBPCHF

Looking at the setup for the GBPCHF trade i took on the 18/1/2007, i thought of another way to limit your money losses in case the SL is hit.

My Analysis GBP/CHF Chart



Sell order triggered on the break, enter only 1 position.

What I do next is, i will calculate the entry price and the SL to get the difference so that i know where i can place my next 2 limit orders.

Looking at the chart, if SL is hit, total pip loss is only 237 pips compare to if i enter all 3 positions the same time which is 354 pips.

If you wish to open total of 4 trades, then divide the pips difference by 4 so that you how where to place the balance 3 limit orders.

Try it out...
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