is it better to daytrade or swing trade
- Thread starter ineedmoney90
- Start date
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Exactly;
but i seldom trade open except with a resting order
For sure exodus SQQQ+[spxu or spxs, not in that yesterday] related by3;00 cst
NOAH noted tell me if you find weather 5 hours late helpful=YES; that + 100 year$ of that.
USa is in a long term sloppy uptrend on floods, Mr Noah, really
,Out of curiosity speedo, is this representative of the type of trading you are doing? Are you using 3 points stops and target that are 1x, 2x, or 3x of this? It looks like for the second trade you suggest, that is a wider stop, so its clearly PA based, which is of course the best sort of stop. But I'm just curious if this is your scalping/trading style that you find works well for you?
It would also be helpful if I knew exactly what your suggested entry is. From what I can make out, the long seems to follow two consecutive white bars, and the short follows two consecutive black bars. Is it an anomaly or something that you actually look for as an entry signal?
My stops are always under/over the structure containing the signal and entry. As alluded to yesterday, an inferred or implied pullback appears as a one bar structure but on a lower time frame, it will print as a conventional flag, so a stop below/above that bar is actually under a flag structure. I used to take more signals eg double tops and bottoms, divergent lows/highs etc but I now only take two types of signals...various permutations of flags (consolidations) and zone (33-66%) retracements of measurable trend legs. There are no lack of signals in any given week. Typically on flags my target is 2x initial risk all in-all out. That target is not arbitrary but is commonly hit on entries of that type. I extensively forward test signals before I go live with them. Commonly meaning more often hit than stopped although I do go to breakeven stop on the ATM at 30 ticks if the target exceeds that. That BE trigger IS arbitrary, I don't want to take a loss if price moves that far in my direction. For zone trades I keep a couple of runners for fib extension targets...including full measured moves. Extension targets are commonly hit and the full MM worth trailing a stop as price moves beyond initial targets. My entries are stop entries, the afternoon long which I didn't take would have been entered after the third bull bar before the pullback inferred flag on the bull bar following it (13:50). The short later was below the 15:05 large bear bar on the bear bar following the 3 bull correction. Had it already been an established trend I might well have entered under the third bull (doji) bar as it was a clean 3 bar flag correction off of bear impulse.