Hi Ondaflex
Ok first off I always enter a stop order with my entry order, it is by default at 4 points from entry for NQ (just a disaster stop).
Cleared that, let's say we are talking about a short trade
A few moments before the price breaks the support my attention goes stright to the Time and Sales, first I want to see a sustained momentum (don't ask me to quantify it, here is where screentime becomes your main asset, it's more like a reflex in my brain, like grabbing something that slips from your hands , you don't even think about it you just do it.)
Then I usually wait for a pullback before entering, keep in mind that this may not be a " regular" pullback, I mean its amplitude might be not clearly visible on a 1000v chart as a LL LH.
I look at the DOM ladder and I see the oscillation of the price, like a VU Meter my brain records peaks and valley (I know it sounds complicated but it's not in reality).
The oscillation is within a certain range and possibly going down , I place my stop 4-6 ticks above the peak of the last oscillation and I enter (THIS IS A RISKY TRADE that's why I use a TIGHT stop), then I trail the stop manually, tightening the stop esponentially (this the key to squeeze the last point IMO) as we get close to a support or when I see a sign of exaustion ( a very long bar or the price gapping down 1 or 2 ticks is what alerts me).
Now this sounds all very complicated and I understand it takes skills you need to build with time and patience.
So as Anek said wait for less risky set ups, you don't have to trade the breakdown when the previous "obvious" pivot is very far.
If you look at my last chart posted, I could have waited for the first real pulback or even better the second pb(the 10 point trade).
Or wait for a formation where the last LH is close to the breakdown area, this way you limit your risk. Skip all the others.
Don't feel in a hurry to jump in more difficult trades, stick to trades with low risk, there are plenty almost every day, you need to train your discipline, you need to be patient and wait.
One missed trade is just an occasion to study it on the side line and learn from it, waiting for the next one.
Hope it helps
