Pyramiding consists in getting a position that makes a profit. Thus, we increase the number of lots, increasing our profit. Stop-loss orders are placed after the price, cutting off losses on previously added parts.
The algorithm of pyramiding:
– – we put an application according to your strategy, we set a take profit.
– – the order is triggered, the price goes up, we move the stop loss after the price movement, the price breaks through our take profit. The price goes up further.
– – we put a stop at the place of our take profit and buy more lots. We move the stop further after the price. The stop can be placed only on a part of the already collected position.
– repeat the previous action if the price continues to rise.
– as a result, the profit increases, moving the stop loss for the price, we cut off losses on the added lots.