Why do my breakouts smell?

B

Bogwaluth

So I came up with a fairly simple method of trading breakouts intraday off a five minute chart. When I go back and look at any chart, it works like a charm. When I try and trade it live, I always end up shorting the low and having my stop get hit. Same for longs.

My tape reading smells, I can't trade breakouts, I can' t put my finger on anything that may work.

Whining over. Just needed to vent. It's not like things don't move.

I feel like everytime I enter an order I am immediately fighting the market. Even fading myself ends up fading the fade.

I need a drink.

B
 
Quote from Bogwaluth:

So I came up with a fairly simple method of trading breakouts intraday off a five minute chart. When I go back and look at any chart, it works like a charm. When I try and trade it live, I always end up shorting the low and having my stop get hit. Same for longs.

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I need a drink.

B
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You never came up with any method at all. Maybe skip a few drinks.
 
NN, it's a personal thing, but I find that a few drinks help to distract me when my systems say I shouldn't be trading. Drinking performs a similar function as does ET.
 
Quote from N.Q. Enqueue:

NN, it's a personal thing, but I find that a few drinks help to distract me when my systems say I shouldn't be trading. Drinking performs a similar function as does ET.
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OK, no sweat.
I only did my best to help that poor soul.

Contrary to you, with me, drinking has no functional relationship to ET! :)
 
Quote from 5yrtrader:

You should just fade yourself.
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I did.. but, it is very hard figure out when you should just fade, or when to fade your fade..
 
Quote from Bogwaluth:

So I came up with a fairly simple method of trading breakouts intraday off a five minute chart. When I go back and look at any chart, it works like a charm. When I try and trade it live, I always end up shorting the low and having my stop get hit. Same for longs.

My tape reading smells, I can't trade breakouts, I can' t put my finger on anything that may work.

Whining over. Just needed to vent. It's not like things don't move.

I feel like everytime I enter an order I am immediately fighting the market. Even fading myself ends up fading the fade.

I need a drink.

B
More...


Are you using volume in your system? Check out this site http://www.chartpattern.com/
 
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