DislikedI am no good with ranging markets, so I just don't trade them. Almost every day some pair is breaking out somewhere. My strategy is to find that pair and trade it.Ignored
1-) You jump to a break-out (no matter if you jump early or not) then it turns to opposite direction and you may hit to your stop.
2-) It's not always so easy to stay "on the trend" although you jump to the trend on time. A sharp bar could:
a-) Could trigger your "close" condition earlier
b-) If you are using stoploss in positive region it could stop you out
May I kindly ask what is your approach in order to confirm (somehow) that the breakout is the real one and how do you close the order?
Thanks
PS: Actually I'm moving the stop to positive region (+5pips) and wishing that the trend will continue without a big volatility. It's a trade-off to wait until your closing conditions/levels reached or you sacrifice from your profits in order not to make loss.
If u want to be successful, u must respect one rule: Never lie to yourself.