Is trading easy?

Is trading easy?

  • Yes

  • No

  • Fuck off cunt.

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NoahA said:
Luckily in this example your trade is safe since it never hit 3809, but you see that a stop right at the overnight low is actually a bad area for a stop? It ideally has to be lower than this. And ideally you would want to see what happens after the break. So often if can poke 2-3 points below a key level and then start getting bought back up after running the stops.

Also, if you know you're gonna try long again, it almost makes sense to not have such a tight stop. (but bigger stops of course get you in trouble as well)
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Let's do an exercise. Mark on the chart where you would get in if you were getting in at 3815. You are not allowed to get in any other price, only 3815
 
nooby_mcnoob said:
Let's do an exercise. Mark on the chart where you would get in if you were getting in at 3815. You are not allowed to get in any other price, only 3815
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If I'm forced to take a trade at only 3815, then either at A when it hits the first time, or we can take it at B as it comes back up. Seeing the double bottom a few minutes later would be nice, but I'd still be worried about that overnight low test at 3809

2022-07-06 1532.23.png
 
NoahA said:
Yes, it did, but the overnight low was lower, and I honestly don't see anything that significant about 3815. The green arrow points to this 8am low. The red arrow shows another low at 3817, and this is also a double bottom, hence why none of these stand out for me other than the actual overnight low at 3809.
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! eMini 1.png
! eMini 2.png
 
nooby_mcnoob said:
wrong try again
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3815 hits two more times. If we wait for the double bottom, we can catch it at C as it comes back up again. But often times, there isn't a double bottom. It hits a level once and takes off, so the trade would have to be missed.

If we wait till D, well by this point, its going sideways, and we almost have to wonder if the trade will even work because the momentum to the upside is clearly not strong.

2022-07-06 1537.29.png
 
NoahA said:
3815 hits two more times. If we wait for the double bottom, we can catch it at C as it comes back up again. But often times, there isn't a double bottom. It hits a level once and takes off, so the trade would have to be missed.

If we wait till D, well by this point, its going sideways, and we almost have to wonder if the trade will even work because the momentum to the upside is clearly not strong.

View attachment 288492
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The correct answer is D (and that was my entry)

Momentum to the upside is "clearly not strong" yet... Somehow it went up another 60 points altogether.

Consider what changed between point A and D to make that a decent trade.
 
nooby_mcnoob said:
The correct answer is D (and that was my entry)

Momentum to the upside is "clearly not strong" yet... Somehow it went up another 60 points altogether.

Consider what changed between point A and D to make that a decent trade.
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Between A and D we have some slight higher highs, but it was almost a gift that it dropped back down again to 3815. Any more strength and that trade would be gone. If you're waiting for an entry with this many chances, how many of these can you catch? Also, with this many chances, I'm not sure if it means the trade is still as viable since its taking too long perhaps.
 
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