trading bar by bar......an experiment

[volpri]

Still I ask why didn’t you exit at the top of the range after your long entry near the bottom? What were you thinking by holding your position?

 

[themickey]

Dunno why Padu doesn't trade on ASX, we could do with some more money.

 

[Visaria]

entered after the high of the bar marked by yellow arrow was broken:two failed attempts to go down...after a strong up move however we may be in trading range
View attachment 199121

I would have shorted it at the yellow arrow with a stop at the high....but hopefully would have exited quicker for a small loss.

 

[wrbtrader]

took a holiday from trading for about six months...

when i was playing golf, i found it was very helpful, sometimes just to quit, when i was too confused and things were not going well as i would have liked, for a longish time....to clear the mind.

there is a similarity between playing golf and trading in the sense that both need a healthy dose of judgement: although in trading it is possible to have a system based method something which never did appeal to me.

The problem with discretionary style in trading is it is not so easy to sometimes explain why the trade was entered.

That said the aim is to use 5 min charts and try to mange the trade .....by getting out at the first sign of trouble.....so it may be a scalp or something more

I thought you were going to say you took 6 months off from trading to design a trade method and then backtest it to determine if its profitable or not profitable.

Instead, you played golf and discovered in your mind that there's a connection between golf & trading and now you've discover that your "intuition trading style" (I didn't say discretionary) is not easy to explain.

Yet, you're able to explain your trading plan via a "keep it simple" application by saying you're using a 5min chart, try to manage the trade and getting out at the first sign of trouble.

Several Variables to your Trading Plan:

1) 5min chart
2) Manage the trade
3) Getting out at the first sign of trouble
4) Look for two leg movements
5) Use a strong bar because it results in another strong bar after a retracement

Why you're so afraid to backtest something before wasting your time, energy and possibly your money in using ???

Why refer to it as an "experiment" when there's no statistics ???

For example, you say a strong bar results in another strong bar after a retracement...what stats do you have to support that statment ???

wrbtrader

 

[Visaria]

6 months playing golf....you should have written a trading plan!

 

[themickey]

I thought you were going to say you took 6 months off from trading to design a trade method and then backtest it to determine if its profitable or not profitable.

Instead, you played golf and discovered in your mind that there's a connection between golf & trading and now you've discover that your "intuition trading style" (I didn't say discretionary) is not easy to explain.

Yet, you're able to explain your trading plan via a "keep it simple" application by saying you're using a 5min chart, try to manage the trade and getting out at the first sign of trouble.

Several Variables to your Trading Plan:

1) 5min chart
2) Manage the trade
3) Getting out at the first sign of trouble
4) Look for two leg movements
5) Use a strong bar because it results in another strong bar after a retracement

Why you're so afraid to backtest something before wasting your time, energy and possibly your money in using ???

Why refer to it as an "experiment" when there's no statistics ???

For example, you say a strong bar results in another strong bar after a retracement...what stats do you have to support that statment ???

wrbtrader

6 months playing golf....you should have written a trading plan!

Whats all this nonsense? KISS

 

[Frederick Foresight]

What, exactly, do you mean by trading "bar by bar"?

 

[Visaria]

The problem with discretionary style in trading is it is not so easy to sometimes explain why the trade was entered.

If you wrote down beforehand why you are going to enter a trade....becomes quite simple to explain afterwards why you entered it!

 

[Visaria]

Why you're so afraid to backtest something before wasting your time, energy and possibly your money in using ???

Why? In case it's all a lot of bullshit! He thought he had it sussed, but no, it didn't actually work. Can you imagine the downgrade to his ego? Do u think he can take that chance?

 

[speedo]

Discretionary does not mean improvisational. You still need defined recognizable signals. It's discretionary because signals don't always look the same, especially in the context of multiple time frames but you still must determine if a signal is valid as to your trade plan.