AHG - Profitable Strategy for Struggling Traders

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Quote from Anekdoten:

Cx,

Price action always dictates where the stop goes, then you compare with your notes and decide if it's something you should take or not.

For instance....

Say I see a double bottom with a furious mid swing in between. Making the stop approximately 4 points (ES), that is quite a load in my book.

When that happens you got some decisions to make...

- Do I reduce car size to make up for the higher than usual stop ?

- Do I look for the next resistance point and see if the sky is clear for a target of say 6 ? and readjust the stop to a safer place ?

- Do I say, screw this, I will take a trade with better odds ?

- Do I skip the DB and just wait until a trendline is developed and follow that ?

Decisions, decisions.....all in the name of preservation of capital.

Anek
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Agree 100%.

~Cx
 
Crap! I completely whiffed on that DT! Normally I'd have been a little more aggressive. Was looking for a little pullback and short entry but didn't find anything that fit my risk profile. Ah well....hope some of you guys caught it! :)
 
Quote from low_hcp_golfer:

Got a piece of it.....out on the test of yesterday's low. :)
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Low,

Check how the low point was the FIRST close above previous high.

Price action baby!

Anek
 
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