stopped out
Tribute to Brooks
- Thread starter padutrader
- Start date
long failed wedge and breakout pullback long....target height of wedge....60 pips....risk 20 pips
stopped out
long two leg break out.....trade it like a two leg correction so long stop 5 pips target 35 pips
closed profit 6 pips
sold stop 14 pips target 45 pips
today's trading....
Yes TA works. You can also use your chart program to generate reports on your trades. This is mine for the month of Jan 2021. I use PA and TA. I read Brooks but only like 2 things in his book. One of them being don't trade during barb wire.
My thoughts on stops is that they should be placed where the market proves your trade direction is incorrect. This will prevent as many stop outs. However, feel free to do exactly what the book says and see what is better for you.
Also, my thought is the more automation you can do, the better. If you can use your charting program to automatically set the targets and stops so you don't need to watch the trade, it's better. If you want to watch the trade, feel free. Too much stress and boring for me.
Also, my thought is the more automation you can do, the better. If you can use your charting program to automatically set the targets and stops so you don't need to watch the trade, it's better. If you want to watch the trade, feel free. Too much stress and boring for me.