AHG - Profitable Strategy for Struggling Traders
- Thread starter Anekdoten
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I may just have to go to a longer timeframe.
Best days, best setups
Here is an idea that might or might not help.
Today the market had a clear sense of direction as opposed to days where it has no idea where it wants to go.
Same thing happened last Thursday and Friday. These days are fairly easy to trade, when you can't tell for sure what's the predominant trend, just stay on the sidelines until your skill level increases with time.
Like it has been said in the past, sometimes the best trade is no trade.
Remember, you don't have to trade every day to have a great month.
Patience is a valuable asset in trading not only to wait for the best setups but for the best days.
Anek
Here is an idea that might or might not help.
Today the market had a clear sense of direction as opposed to days where it has no idea where it wants to go.
Same thing happened last Thursday and Friday. These days are fairly easy to trade, when you can't tell for sure what's the predominant trend, just stay on the sidelines until your skill level increases with time.
Like it has been said in the past, sometimes the best trade is no trade.
Remember, you don't have to trade every day to have a great month.
Patience is a valuable asset in trading not only to wait for the best setups but for the best days.
Anek
Anek,
I hope this is not too much of a pain:
I swingtrade, in a somewhat similar fashion to what you do scalping...am interested in precisely how you scale up your position if it goes your way... could you direct me to the part in your thread where you discuss your method, criteria etc (if you did, that is)?
Thanks!
I hope this is not too much of a pain:
I swingtrade, in a somewhat similar fashion to what you do scalping...am interested in precisely how you scale up your position if it goes your way... could you direct me to the part in your thread where you discuss your method, criteria etc (if you did, that is)?
Thanks!
Vienna,
Scale up on subsequent confirmations but only when you were blessed enough to catch the birth of a new major trend.
For instance:
If long and next resistance became support, that's an extra confirmation.
If riding a trend, bounces off the major trendline.
etc...
Hope it helps.
Anek
Scale up on subsequent confirmations but only when you were blessed enough to catch the birth of a new major trend.
For instance:
If long and next resistance became support, that's an extra confirmation.
If riding a trend, bounces off the major trendline.
etc...
Hope it helps.
Anek
Yeah I know exactly what you mean. What you are speaking of is an art though. Deciphering that they are merely mini swings in real time instead of major is a whole other story then in hindsight. With your experience, how do you filter mini from major as they occur?? Thanks for the input as always.
~Cx
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