Pull backs or break outs
- Thread starter teaparty
- Start date
What do I think (you did ask)
I think youâre an alias, or at the very least a poserâ¦, stating a ridicules âneedâ.., given your âwonderingâ
I also think your post is ill conceivedâ¦, and being your first one â your content can only improve
(my last thought is more of a hope than an expectation or anticipation)
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Now without further ado
Trading pullbacks;
Unless price is in a range â trading pullbacks is the highest risk/ least reward trade there is
Not to mention trading thusly â one is constantly looking for an interim turnâ¦, if not the dayâs top / bottom â so youâre missing the current move â and who knows how long the current move will continue
âEnteringâ on a pullback howeverâ¦, is another matter
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Trading breakouts;
Breakout out of what? (rhetorical)
A / the - previous barâs O/H/L/Câ¦, the dayâs O/H/Lâ¦, the last swingâs H/Lâ¦, yesterdayâs O/H/L/Câ¦, last weekâs â last monthâs â last quarterâs â last yearâs - O/H/L/C
An opening range / a midday range / priceâs current range / some arbitrary range (however you define these)
Hell for that matterâ¦, and strictly speaking â in a trend (move in my vernacular) up / down â every tick higher/ lower is a break out
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As to whether I trade pullbacks / breakouts / enter on pullbacks â yes I do
Why â risk is acceptableâ¦, to make moneyâ¦, I am able to get a read on PA
Why not â risk is too highâ¦, PA is not clear enough for me to get a readâ¦, I lack the expertise to read what PA is broadcasting.
At these times - I simply sit on my hands
RN
I think youâre an alias, or at the very least a poserâ¦, stating a ridicules âneedâ.., given your âwonderingâ
I also think your post is ill conceivedâ¦, and being your first one â your content can only improve
(my last thought is more of a hope than an expectation or anticipation)
=========================
Now without further ado
Trading pullbacks;
Unless price is in a range â trading pullbacks is the highest risk/ least reward trade there is
Not to mention trading thusly â one is constantly looking for an interim turnâ¦, if not the dayâs top / bottom â so youâre missing the current move â and who knows how long the current move will continue
âEnteringâ on a pullback howeverâ¦, is another matter
========================
Trading breakouts;
Breakout out of what? (rhetorical)
A / the - previous barâs O/H/L/Câ¦, the dayâs O/H/Lâ¦, the last swingâs H/Lâ¦, yesterdayâs O/H/L/Câ¦, last weekâs â last monthâs â last quarterâs â last yearâs - O/H/L/C
An opening range / a midday range / priceâs current range / some arbitrary range (however you define these)
Hell for that matterâ¦, and strictly speaking â in a trend (move in my vernacular) up / down â every tick higher/ lower is a break out
==============
As to whether I trade pullbacks / breakouts / enter on pullbacks â yes I do
Why â risk is acceptableâ¦, to make moneyâ¦, I am able to get a read on PA
Why not â risk is too highâ¦, PA is not clear enough for me to get a readâ¦, I lack the expertise to read what PA is broadcasting.
At these times - I simply sit on my hands
RN
Considering your journal performance, wtf do u know to be offering advice.
This is the biggest problem with ET, people without a clue, acting like experts.
Performance within one journal and performance through the entire career are two different matters. You only have one piece of information, which I intentionally wished to share.
This is at first. And at second, suggest Baron to ban anyone from answering questions in whatever threads, unless a proven and audited positive track record is provided. How many ET'ers would pass that test and be able to participate in discussions? Would you pass that test?
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TeaParty=great nickname asks PB or break outs??
Yes, but mainly study, ponder, record, chart, candle chart trends;
study counter trends, but NOT near as much as trends
Why study trends , BECAUSE;; Wisdom is profitable to direct
===================================Damn, you might as well just log off for good then.
Your answer is much better than the answer of someone using a different breakout strategy than your breakout strategy...same with pullback strategy.
Simply, backtest and simulate trade both your pullback strategy and your breakout strategy to determine which of your trade strategies is best via whatever trading style you may have.
It is like half dozen of one or six of another, your question is way too early of evolving of a Trading plan. It doesn't matter which is better, cause if you can't manage the trade AFTER you get in, the best entry signal is worthless. Entries, with exception of scalping ES, should come near the end of your trading plan, there are so many questions you need to ask yourself and find the answers before making entry signals.
What is trend?
It looks like a trend change but really isn't?
When did current swing start and how many points?
In last thousand upswings, what can be considered "normal" for retracements?
In last ten years, does basing happen and usually for how long?
Out of basing, are moves strong and fast or weak but consistent?
Does this market work well with trendlines?
Does this market show good signs of reversing?
When you can answer like 100 questions of what ifs, then you can develop entry signals.
What is trend?
It looks like a trend change but really isn't?
When did current swing start and how many points?
In last thousand upswings, what can be considered "normal" for retracements?
In last ten years, does basing happen and usually for how long?
Out of basing, are moves strong and fast or weak but consistent?
Does this market work well with trendlines?
Does this market show good signs of reversing?
When you can answer like 100 questions of what ifs, then you can develop entry signals.