How to use a pyramid trading position management strategy
Refer to this post for basic information. #Educational
You need clear liquidity to target first.
Use pyramiding in the direction of the senior timeframe, it is very risky to trade against the trend.
First entry according to the parameters you set.
But the second entry is waiting for a failure or BOS, then waiting for a price pullback.
The second entry minimum should be 3-4 pips below the entry point.
Pullbacks get deeper each time price approaches the target, so use a larger stop loss.
The size position may be 1% for the first record, 0.5% for the second record, and 0.25% for the third record.
