Recent content by LetItRide

I used to trade like this, blew a couple of accounts. Now I think trading tops/bottoms is for suckers.

I just asked a question, most people jumped to the conclusion I was clueless, caught like a deer in headlights. What if I was revamping my trading plan, or automating my plan factoring in unexpected moves which news can cause? To be a good trader you need to observe and not assume, most people...

RN - it was a hypothetical question

You trade price action, you go long at the previous support level, you have a mental stop and not a hard stop. Price starts to move in your favor. Then a news item comes and price makes a huge move against you moving past your stop, do you immediately get out or wait for the price to stabilize?

The profit target is the minimum profit that you expect to make. One strategy can be to define the minimum profit target as the previous high or low. You can ultimately hold the position for a breakout of that previous high/low and target or move to either a) the next S/R in line to be tested...

you feel this way because you don't have a well defined trading plan and so your entries and exit are not clearly defined. Your feeling uncomfortable/anxious is your subconscious telling you that you don't know how to deal with a losing trade. A smaller trade size or trading with money you can...

You are not losing because of your ego, you are losing because you don't have a trading plan. You have no exit strategy so when a trade starts going against you, you have no clue what to do. So you watch your losses piling up, hoping that somehow the market will turn in your favor. You exit when...

Shopster, you were right, I read many of Zenster's comments on other threads and he is a prick who has been acting as Mr. Know It All. I stand corrected. I am sorry it was my bad

Shopster: you accuse Zenster of taking a swipe at other traders yet that is exactly what you are doing. Zen has posted things which actually are helpful to someone who's just started trading. Apart from berating other traders what useful info. have u posted? To anybody who has read ur posts u...

How do you guys take profit when price takes out your target area and continues to move in your direction? My backtesting shows in situations like this taking profit at the profit target usually misses a huge swing in your favor

In a strong upward run how do you detect a pullback vs a reversal with no resistance at sight as price breaks into a new territory

anyone??