I know that the concepts state average in is bad vs. pyramiding is great....and I believe concept has all of the good purpose, and works great on every charts(especially hindsight, until it doesnt).Originally Posted by ;
We have a proverb in my language: the road to hell is paved with good intention
so, that good intention can function as pyramiding, or my advice here, you need to decide. . .even both can both be wrong.
but here's a few observations:
on the charts you seem to get into a bit late (GU, and some previous ones too)... this could be because of your own spread. I dont want to debate between brokers, but provided you in Germany, you have options. Right now both GU and EA has in my own chart a floating 0.3-0.7 pips spread approx....vs your 2 pips!! And add to that the fact that Oanda widen here and there, in which it seem to match them. When you lose, they knowingly earn, should be first to not tip their particular hand. Don't have any doubt, they do, that's part of the MM model!
Even if trying to snare, your 2 entries are too near, and in a turn it considerably accelerate the speed of losing money.
Using the not right averaging in, and buying a few pips bellow the first that second entrance, would give you a chance to put exactly the same $ risk SL also somewhat lower, and providing you maybe that needed little breathing space to have an opportunity to survive the first test back in the breakout.
And finally, to not discussion fashion, cos I am not per se trading breakouts much anymore, but the reverse. However it relates at a certain point to earn money these breakout have to neglect. So, technically I have to get a good eye for whether it is likely to do so to decide.
For me, the larger the run up inside the afternoon, or a time period, the more likely that the fresh breakouts get quicker exhausted, tired, and willing to neglect.
I'd based on these details likely would presume the initial one-two breakout following a narrower range has better chance to be successful. . .and for the reason I prevent fading those, cos I'm likely to lose money on them.
Finally, it is keep trying until you get it right. Or learn after a time period what isnt likely to work and move on to change. time will tell.
I still want your screen photo would incorporate the chart with the price at a better picture.