Fair enough. Although I suppose it depends on just how choppy that chop is, eh?
But I get your point.
TECHNIQUE: After three profitable trades, skipping the next setup.
- Thread starter Iwilldoit
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But I get your point.
Exactly, there has to be adequate range within the consolidation.Fair enough. Although I suppose it depends on just how choppy that chop is, eh?
3 wins in a row - means you and your approach are in sync with the current PA
We're exploiters - exploit when / while the exploitin good
Helps make up for when you can't buy a profitable trade to save your ass
RN
I think it comes to your back testing of Swings, if the 3 trades were within one swing, and going back like 300 previous swings it shows that after so many trades you encounter losing trades, then you can have a rule to stop you from taking more trend trades. That's what I do, I can only take so many trend trades within a swing, I can have other ways to get in on same bar or area and all count as one but once price leaves that area, then any other signals count as next within the same swing.
As far as skipping trades, it has never back tested to skip trades to be favorable. Really all comes down to your stats, dividing up segments of your trading day like morning, lunch and afternoon, in ES for example, each session trades a little different cause volume changes "normally", so you can expect more chop during lunch and afternoon session can be harder to trade than morning even with more volume than lunch, afternoon is more of how to really screw the uneducated than making and so called thrust in one direction. Knowing what an "average" break of a pivot helps, as the break becomes smaller, then you can expect reversal.
As far as skipping trades, it has never back tested to skip trades to be favorable. Really all comes down to your stats, dividing up segments of your trading day like morning, lunch and afternoon, in ES for example, each session trades a little different cause volume changes "normally", so you can expect more chop during lunch and afternoon session can be harder to trade than morning even with more volume than lunch, afternoon is more of how to really screw the uneducated than making and so called thrust in one direction. Knowing what an "average" break of a pivot helps, as the break becomes smaller, then you can expect reversal.
If your trading plan gives a signal, it should be a real reason to trade, no?
And when it doesn't give a signal, it should be a reason to stay out, yes?
So the better/safer your trading plan, the more you should trade it.
If losses come, they should anyways be made small. They can also be inputs on how to improve.
Just don't get cocky or scared and break the rules for nothing.
And when it doesn't give a signal, it should be a reason to stay out, yes?
So the better/safer your trading plan, the more you should trade it.
If losses come, they should anyways be made small. They can also be inputs on how to improve.
Just don't get cocky or scared and break the rules for nothing.
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after the first winner, you start looking for conditions or markets that are in the same similar condition, if you can't find any how can there be a "next trade"?
%%%
Good points; do NOT miss a trend also.
But i prefer to be selective, in my trends original poster; so dont over trade
Same here, never understood that part.
if your discretionary eye is good..why?
