Hello Howard, I hope you don't conclude this thread so early. Some of us have just seen it and is very nice. I like very much the non system approach.
The stop loss discussion is great. Looking forward to read more about it.
Previously you said:
1) nobody know if price will go up or down next. (regardless of what indicator / system / analysis is being used)
This is true, and is nice that you pointed first in your list. We only can act by experience and have that "feel" that the entry will work because it has done so in the past, and the probabilities will play in our favor hopefully. Btw, do you have something to say about that "feel".
5) Don't use strict stop losses keeping in mind point 1)
What about the times a fake out results in a break out?
Regards
The stop loss discussion is great. Looking forward to read more about it.
Previously you said:
1) nobody know if price will go up or down next. (regardless of what indicator / system / analysis is being used)
This is true, and is nice that you pointed first in your list. We only can act by experience and have that "feel" that the entry will work because it has done so in the past, and the probabilities will play in our favor hopefully. Btw, do you have something to say about that "feel".
5) Don't use strict stop losses keeping in mind point 1)
What about the times a fake out results in a break out?
Regards
Best time to plant a tree was 20 years ago, second best is now