sure..
So, here's the deal: the distance between orders is basically
how far the price has to move in a single timeframe before we open a new trade. Let's say we're looking at a 1-minute chart. If the last candle signals a downtrend, we'll go short (sell).
But what if the price goes the wrong way after our first trade? Well, that's where our rule comes in. Imagine this:
- Candle 1: This is where we placed our first trade, and unfortunately, it went against us.
- Candle 2: This is where we'll place our second trade. But there's a catch: we'll only enter another sell trade if Candle 1 has moved a specific distance, let's say 700 points/pips
So, in simple terms, we're waiting for a certain "body" of the candle to form before we enter the second trade. It's like saying, "If our first trade is a loser, we'll give it another shot, but only if the price moves enough to justify a new trade."
If first open order is sell, then the next open order is sell as well with condition the next candle price is above open order before.
You're absolutely right about these,,I'd just add a little more detail: "If the first open order is a sell, then the next open order is also a sell, but only if the next candle's price is above the open order
and if the candle body meets the 700-point/pips requirement."
That's why I use two charts,it gives me more control to quickly intervene when things don't go as planned.
I really hope this answers your question