Adding More Contracts to My FKLI Trades

My Adding-to-winner Rules for FKLI

Entry Rules
a. I can use breakout on recent new high or low, Oops! or ID-NR4 to add more contracts to my trade if there is a trend in the daily or weekly chart.
b. The new additional contracts have its own stop loss. The stop loss is more tightened than the previous entries.
c. The existing trade must be profitable before adding more contracts .
d. My current adding-to-winner strategy is that I will add more contrtacts to my trades with:
i. one additional contract if my account is more than RM5,000.
ii. two additional contracts if my account is more than RM7,500.
iii. three additional contracts if my account is more than RM10,000.

Entry Rules
a. Take partial profit
i. MOC – if the price hits extreme in your favor. The extreme is when a long outside-day is formed with Close near Low or High. Close at 5:14pm.
ii. Next day‘s Open – if the trade is profitable but the price is not extreme, leave it over-night. Exit next day’s Open if the price gaps in your favor.
iii. Next day’s Close – if the price hits extreme in your favor. The extreme is when a long candle is formed with Close near Low or High. Close at 5:14pm
iv. 10 to 16-point profit. – Exit immediately
v. If there is no ascending or descending triangle target, use Fibonacci 161.8% as a possible target for trend-following.
b. Exit all if all the trailing stops are triggered.

The Psychology of Adding to the Winner
a. The more additional contracts are executed, there will be more risk and more irrational or emotional trading has become.
b. Sometimes, adding more contracts may not be successful as the trend may have reached its end after ID-NR4, Oops! and breakout of recent high or low.

The benefits of Adding-to-winner
a. The most profitable or home-run trades are usually coming from trades that have additional contracts.
b. It follows the classic golden rule of "Add to the winners while letting profit runs".

Actions:
a. I need to back-test adding-to-winner with trend using my entry signals.