Quote from Anekdoten:
Cx,
I see nothing wrong with your exit.
Only mistake I see is you did not keep shorting the pop ups as soon as they were showing weakness.
I had 4 adds on that chart.
Anek
Yeah, funny I was talking to my family about that. I was like I know Anek is averaging up on all of these waves down hehe. So the exit was ok, but I only captured 4.25 points of a 20-25 point move. So I guess I am seeing three options:
1) Exit when price starts making HH/HL per bar and re-
enter on next pullback.
2) Do not exit on per bar reversal, instead trail or move my
stops to protect profits and try to stick with the trade
until it retraces through last swing high/low (*with the
option of average up*).
Just looking at the chart right now, I don't see real conviction as to why I should have been out of my short position until 10:44 where price based for around 20 minutes. Even then, price was unable to take out the last swing high and continued lower until the last swing high was finally taken out at around 1444.00 around 11:40.
Option 2 seems like the more sensical approach to take, but then the question becomes how would you trail / move stops to protect profits but not get stopped out when you shouldn't? Seems logical to just keep moving stop above/below the last swing high/low in the overlying trend (not including all of those incredible 70-80 degree burst moves that reverse hard and heavy). Let me know what you think and how you approach this with protecting profits, etc.
~Cx
