Hi All,
I hope all is going well. I have a question about this risk management for the tunnel trading that is 1hr. Vegas cites about about various amounts and proportioning the total amount of profit. He cites about using a minimum of 3 components to execute tunnel trading. . .using 55, 89, and 144 and also to choose a 1/3 profit from each. He also cites that till it strikes 377 rather u need to use 5 components at amounts 55, 89, 144, 233 and let 1 unit ride.
When he's talking components is he talking lots... correct? What exactly does he mean by components?
Additionally to give an example if I was trading 20 lots the amount of lots if I give up in profit once I hit the amounts of this preferable case (i.e. 5 components ). So if I had 20 lots the amount of do I give to profit and carry on till another level?
Thanks
Greg