One tick below base of stochastic low. Question????
Chronicles of an Idiot
- Thread starter VisionTrader
- Start date
One tick below base of stochastic low. Question????
no not now...do you triple that for your target...i was used to those 2 for 2 entries...
Michael B.
Michael B.
If you have time at some point. Look back thru the early pages of the journal.
My old long lost buddy Breakout has me doin it this way and I like it. If that low is violated, most of the time, not always mind you, it will go on lower anyway. Why give them the extra money. If I'm wrong, I'm wrong. Next.
Stopped out. -.75
Strange trade. Look for it again. The timing was off.
Stop 976.75
Well...I will not dispute the likes of breakout...he is a pro...there is some validity to his point...you can try again twice compared to the 2 point stop.....and hone your entry timing.
Michael B.
Michael B.
your in again with a 1.75 stop.....do you target according to price action and s/r or do you move your stop up? or...just merely triple 1.75?
Michael B.
Michael B.
Michael,
This last bunch of stuff is not normal. I have gotten in with mixed signals.
One thing I am trying to do is have a minimum risk/reward of 2:1. Some trades 3:1 or 6:2. Like the earlier one.
I am really concentrating on minimizing my losses first, then managing the profit. Whatever it might be. Focusing on controlling my losses is helping me and I take what I can.
This trade is a good example of the "issue". I would still be in the original trade on this one.
This trade took off initially as planned, then went sour. Probably should have gotten the stop to B/E earlier. Babbling a little to much today.
There you go, clear as mud.
No Good. -1.75