Simple's Green Room

[simplegreen]

GM board...Rez.., the FIFO rule is a killer IMO but perhaps you have figured a way around it..please let me know if you have and I will pass it on to my wife.
Here is an example of what makes it a killer...Lets say I go long 10K AUD/USD at .8935 and soon it drops to .8905...I am 30 pips in the red ...at .8905 I open another 10K long and price goes up to .8930.At this point I am 5 pips in the red on first position and 25 pips in profit on second position.If I close 1 10K position I will be locking in a 5 pip loss because first position opened is the first position closed.
One can easily cost average and horse around with things a bit and not get hurt by FIFO ...UNLESS...lets say you found yourself 70 or 80 pips in the hole on trade #1 and you prefer to simply ignore that trade and ride it out.In order to do so you will have to abandon trading on that pair because you cannot simply swing in and out of it making other trades that are profitable...BECAUSE...the first trade opened is the first trade that closes.