DislikedWhat other factors do the more experienced and successful traders consider while performing "discretion" as it seems that the technicals of this system are hard to beat and the trick lay in picking the winnersJMSIgnored
Quite a few have posted their Fozzy variations, but true discretion is very hard to define, because ultimately it comes down to "feel", which is anathema to the true, mechanical trader (and also negative to the P&L of most traders). For me, my discretion comes down to whether I like what I see on the chart or not. If all my personal filters say "Yes" to a trade, it is unusual that I will not take it. However, I will occasionally take a trade that does not conform : this Monday morning, there were a number of possible trades & I felt uncomfortable with all except one, which barely fit any of my parameters : long GBPJPY. Nevertheless, something about the chart said "Buy", so I am long from 232.10 (first profit target at 232.89). Let's see.
J.