Oh very IMPORTANT. Don't misunderstand my use of the word bail.
The ability to use this correctly is based on your screen time experience. We should only be entering trades with the highest probability based on our analysis. Anything less and we should not enter. Too many little bails equal big losses in the end. Bigger because you don't realize it at first. So these need to be used wisely and based on lots of screen time. A trade really should not be taken without the utmost confidence. Bails must be used carefully. You enter a trade with full risk so you don't want to keep bailing on possible winners because you got skittish. Practice and screen time. This is why you read everywhere that you should focus on one or two instruments at the most. Of course I don't take that/my own advice and I'm all over the place but you should do as I say and not as I do.
Good Luck
The ability to use this correctly is based on your screen time experience. We should only be entering trades with the highest probability based on our analysis. Anything less and we should not enter. Too many little bails equal big losses in the end. Bigger because you don't realize it at first. So these need to be used wisely and based on lots of screen time. A trade really should not be taken without the utmost confidence. Bails must be used carefully. You enter a trade with full risk so you don't want to keep bailing on possible winners because you got skittish. Practice and screen time. This is why you read everywhere that you should focus on one or two instruments at the most. Of course I don't take that/my own advice and I'm all over the place but you should do as I say and not as I do.
Good Luck
DislikedJoe thanks for the explanation your horizontal lines along with the trendlines have helped me immensely I now see my chart in a completely different way and I have a better understanding of what is going on. ie When to enter and exit also to bail if price stalls which I did not do before. As you said it is a puzzle until a person gets their head around it.Ignored
SPC * Swollen PocketZ Crew!