no one picks tops and bottoms and entries so well that the trade never goes against them ,95% of your trades are going to go against you at the beginning,you sell 1256.25 ,it goes to 1257,5 and then if your right it'll go back down,whatever your trading ,pick a couple of 2 minute or 5 minute timeframes or 30, and see the hi-lo range,cut that in half and that avg is how much that trade could move against you and still come back in your favor,these avgs will grow and shrink with the volatility of the vehicle your trading,but be willing to lose that much and just a little more for a stop,this will keep you from jumping out and will keep you from jumping in unless you feel its a really smart setupQuote from increasenow:
Brocklanders...this is EXACTLY correct...as I stated before, being totally honest...every trade has been in the right direction...it is as you said, seeing that p&l starting to turn "red (-)" temporalrily that gets me concerned of it running for the long haul in the opposite direction..I'm getting a good pulse of the price action and if a market is getting weak or strong and trading in that direction...it is just those slight "temporary spikes" in the opposite direction that have been getting me to "trade out" too quick...yea, exactly, it seems to be all about staying in a trade longer, longer, longer...thanks again
not really a "concrete method" in the sense of all must line up to take a trade...right now...want to get to that point...for right now, I trade heavily off of signs of weakness or strengths in a market and follow the flow...wait for mild retraces/pullbacks from initial trend and then continuations in the big trend...also view intraday support and resistance..thanks!Quote from deaddog:
Increasenow.
You seem reluctant to share your method. Is this because you are afraid someone will steal it or is it because you donât really have one that you can define?
If itâs a viable method it should be working which doesnât seem to be the case. If itâs not then possibly the members of this forum might be able to assist you in adjusting it so that it might work.
Entirely your decision.
I agree...how would I change the name of this thread?...who do I ask or request this of?...by "private message" or?...If the monitor is reading...please private message me to change the name of the thread of maybe Swordsman nows?...ya, agree...the name needs to be changed...Quote from The Swordsman:
You need to rename this thread, so far you have shown little discipline to follow the "Only 1 daytrader per day" part of your approach.
thanks a lot!...very insightful and helpful...thanksQuote from ammo:
no one picks tops and bottoms and entries so well that the trade never goes against them ,95% of your trades are going to go against you at the beginning,you sell 1256.25 ,it goes to 1257,5 and then if your right it'll go back down,whatever your trading ,pick a couple of 2 minute or 5 minute timeframes or 30, and see the hi-lo range,cut that in half and that avg is how much that trade could move against you and still come back in your favor,these avgs will grow and shrink with the volatility of the vehicle your trading,but be willing to lose that much and just a little more for a stop,this will keep you from jumping out and will keep you from jumping in unless you feel its a really smart setup