That's I'm sure one of the biggest problems I have had at least recently. And I have noticed some 'pro' traders on here place their stops 1 tick above or below their entry bar... This would have definitely saved me a lot of money recently. Another issue is with my edge, which tends to be more long term.. obviously not for small accounts.
I just got finished reading over various posts from NoDoji. She purportedly possesses a trading method that has resulted in her not ever having a losing day. Of course most traders can only dream of this.... However, after doing hours of testing similar to the few examples she's provided, I can see that no matter the time frame, no matter the asset, there is a method that involves simple lines and a moving average if you'd like that can very possibly yield this result. I think what most people struggle with is the subjectivity of the lines (1a). However, in the tests I've done for the last several hours, I don't see there being much of a difference in the way that you draw the lines. You must realize the purpose of the lines: they are simply a guide that help you enter low risk trades with high probability of making a good bet.
I am doing some really hardcore subjective testing on methods that she has explained pretty thoroughly. I'm reading Al Brooks' book in addition.
I want to make a couple notes which I found funny about NoD. She uses a 5 and 1 min charts, however, the book that she so seemingly learned everything from states several times not to use a 1 min chart for several reasons. First, a 5 min bar chart contains all information a 1 min bar chart does if you know how to read it. Second, it's hard to react in such a small time frame.
Being such an anal-yst is difficult, because I have found contradictions in the book and the statements, but it's not important. The important thing is becoming a profitable trader...
rice Physics Trend Following, Pairs Trading, and Statistical Arbitrage.