Disliked{quote} I see what your saying here. I agree when it comes to the hindsight analysis. Especially when it comes to fibs, oscillators, and moving averages, but don't knock this guy yet. He has been posting some entries before they happen and they have been going to profit.Ignored
And what if the price fluctuates a lot within a day? Putting a trailing S/L minimizes risk, but also profits.
Below is a simple and relevant example.
The middle horizontal line is the last day's low. According to Yaed's plan, you would want to sell at this point the next day. The trade can give us a potential gain of 40.3 pips, but we would get stopped out and gain only 9 pips. We can't see this in the daily candle, but it is easily visible here, in the 15m.
From yesterday's low, there are 26 pips between where we got stopped out and another 15m-chart-high. The question really is: what is the optimal S/L setting? A high S/L gives us too few wins, and a low S/L gives us too little profit.
Another option would be to manually close the trade, - but what is the exit signal?
'tis a struggle.
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