If you want to fail as a trader, study TA

[xburbx]

entry 1749
pain - 1717.9

half off at 1817.8

if s/r flips let rest run to 1885.2

if it does not , stop to BE

 

[The Expert]

Quote from xburbx:

retest of 1213.8 with a target of 1183.8 and pain threshold/stop of 1226.7

Do you want to change your mind?

 

[xburbx]

on this TF yes

 

[The Expert]

Quote from Fibbin-Archie:

hmm, sell a retest of 1250-60, good risk reward...

Play nice y'all...

Sure if it's going up there then why not BUY it now?

 

[The Expert]

Quote from xburbx:

on this TF yes

And now?

 

[xburbx]

you dont know if it is going up there or if it isnt. he also needs to know his risk/reward defined and his stop area. predicting price isnt possible which is also speculating. rolling the dice with good RR makes sense because it may or may not get there but if it has a clear road, it's worth the roll.

 

[The Expert]

Quote from xburbx:

entry 1749
pain - 1717.9

half off at 1817.8

if s/r flips let rest run to 1885.2

if it does not , stop to BE

What if it does not get down to 1749 in the next n period?

Do we have Plan B?

 

[The Expert]

Quote from xburbx:

you dont know if it is going up there or if it isnt. he also needs to know his risk/reward defined and his stop area. predicting price isnt possible which is also speculating. rolling the dice with good RR makes sense because it may or may not get there but if it has a clear road, it's worth the roll.

But surely that is what TA is all about, helping a trader to PREDICT where the price might go?

Why not place the trade right now?

 

[xburbx]

If it gets above 1197.7 I would enter long to try 1201.1 and stop at 1196.4. I'm not sure if that answers the question

Quote from The Expert:

And now?

 

[xburbx]

Limit order at 1749. If it doesnt give me an entry dont take it

Quote from The Expert:

What if it does not get down to 1749 in the next n period?

Do we have Plan B?