SML
Sitting here watching the Olympics..., came across your thread..., figured I'd submit my random thoughts for possibly something to mull over
Ignore em if it makes more sense
Diagonally..., horizontally..., or both
When fixin to enter a trade - make damn sure you know / identify which one you are trading with "this" entry
One is a range (horizontal).., the other a move (diagonal)
(recall I do not use the term "trend" - but feel free to assume "trend" for the word move)
If you're trading move - is this move with..., or counter to the overall bias..., to the day's bias..., to the current bias (and this exactly why I do not use trend - show me a "trend"..., I'll change the TF and show you another "trend") - really the only time I'll use the term trend.., is to describe the overall
Nuff said here
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Not really - if ample RR not existent - sit on yer hands -> save your money / emotional capital
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Anyone telling you otherwise is FOS
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Depends
Horizontal or Diagonal
Trading a range..., a move..., a B/O..., a PB..., or what
You must know / be very clear on..., what it is -> you're trading in..., what you're actually trading..., and of course the signal you're waiting for
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Make up your damn mind
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Never..., no matter what stage a trader is at -> it also a really quick way to blow up
Anyone telling you otherwise is FOS
We are risk managers first..., profit takers second
We take trades on how much must be risked
To see if the trade will work
To capture the potential profit move that currently exists (take note I said "potential" - because till it happens..., it ain't happened..., and there are never any guarantees it will)
$ risked must always be at a bare minimum.., equal to..., and preferably a fraction of - the current existing potential profit
Stated the other way - existing potential profit - must be equal to..., or a multiple of..., the amount risked for each trade
And the $ risked must always be acceptable - to see if this trade will work
Successful Journey Sir
RN
