Quote from icarus618:
I parsed your post below for clarity.
No argument here, just some clarification and expansion of my earlier comments within the context of your post.
To start, I think nothing negative can be said about entering a trade just in time. Having said that, I don't put any special emphasis on the entry as a person interested in making money. Regardless of entry, taking action when called for is what grows the account. Jack calls this "staying on the right side of the market." I do not see this as being the same as saying "always expect to come out ahead between every action." So in the context of entering on du in anticipation of a bo, the fact of being in the market is not that important as opposed to taking action (which includes holding) when the bo arrives.
With regard to the second part of your statement, whipsaw and FBO, let me begin by saying I take it you see them as a close pair. From my viewpoint, the natural pair is BO and FBO. I would pair the term "whipsaw" with what I call "wtf" because the feelings resulting from them are probably similar, something like "what the fuck just happened I took a trade based on what I saw and what I've seen in the past and it didn't do what I expected it to do and I lost money, damn." Well, I know FBO is always on the table. I know all FBOs require action, which is not a hold. Whipsaw and wtf feelings do not belong on the table labeled "Making Money."
Alright, I might have thrown a curve with my reference to failure to pt 3. I put that amongst the World Trading Federation experiences. But let's look closer at the FP3. A failure to pt 3 is a BO. It is a BO from a DU where a person may have had expectations for a new trend but instead got a continuation of the current trend. So in that sense, an FP3 is just a misreading of the current trend and in and of itself does not exist. In any case, the point is still the same. A BO requires action, which includes holding if I'm in the market during DU.
I'm not sure if I get what you mean here. Where a person's stop is or whether a loss results are, to me, irrelevant to an FBO. An FBO is always on the table with a BO.
Yes we operate on different fractals, but trading "loose" is relative to the operating fractal, is it not? You don't mention what bar duration you operate on.
Yes, certainly, looking closer gives a heads up. The important thing is to take action when called for, whether looking within the bar or at it.
Look at bar 55 following the BO on 54 as being illustrative of an indication. Also compare that series with what followed the BO on 68.
No comment, other than to say successful learning is the only way.
Happy New Year.
