One can lower the risk based on that same 1 min market structure...
This is a false (and widely held) belief – it all the same PA.., regardless the TF(s) we choose to break it up in
Smaller TF is a microscope – used to fine tune entries / exits / stops / targets
Note - I hesitate adding that we could use the smaller TF for trade management - because it simply too easy to get hooked on the 1 min crack - and turn into a ping pong ball
Handle: In my case risk is always lowered using one minute as opposed to five minute bars, the area of where the trade becomes wrong is the same whether one or five minute charts but cause entry is better on one minute, the risk is less.
but just to exit because of profit, isn't the right decision.
Agreed
Exit when the reason for entering invalidated – otherwise allow the trade to run its course
Handle: Except for long term trading, all my day trades have targets, but since I am scalping 1-50 ticks in crude oil and have several different signals, as market running up, am adding to original signal, but my me, targets way to go. I must have weakness in internal self to be profitable on most trades, but where my weaknesses do happen is I rather have less drawdown, smoother equity curve than more profits, there is ALWAYS one side or other that gives up something. Yuk, you should consider that when trading for others, whether they want smoothness or wild equity curves.
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One thought keeps popping in my head Yuk, you ever mention stats? Do you keep weekly, monthly YTD stats?
This is a false (and widely held) belief – it all the same PA.., regardless the TF(s) we choose to break it up in
Smaller TF is a microscope – used to fine tune entries / exits / stops / targets
Note - I hesitate adding that we could use the smaller TF for trade management - because it simply too easy to get hooked on the 1 min crack - and turn into a ping pong ball
Handle: In my case risk is always lowered using one minute as opposed to five minute bars, the area of where the trade becomes wrong is the same whether one or five minute charts but cause entry is better on one minute, the risk is less.
but just to exit because of profit, isn't the right decision.
Agreed
Exit when the reason for entering invalidated – otherwise allow the trade to run its course
Handle: Except for long term trading, all my day trades have targets, but since I am scalping 1-50 ticks in crude oil and have several different signals, as market running up, am adding to original signal, but my me, targets way to go. I must have weakness in internal self to be profitable on most trades, but where my weaknesses do happen is I rather have less drawdown, smoother equity curve than more profits, there is ALWAYS one side or other that gives up something. Yuk, you should consider that when trading for others, whether they want smoothness or wild equity curves.
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One thought keeps popping in my head Yuk, you ever mention stats? Do you keep weekly, monthly YTD stats?
