Mark, before you go any further it may be worthwhile taking some time and identifying some of your problem areas. Why not make a list of some of the mistakes you've repeatedly made thus far. Next list your strengths and weaknesses as you perceive them and in this way you can "gear" your trading strategy accordingly.
Your definition of a trend is good but I think you should define a time period. In other words a "trend is in place when the market is making higher highs and higher lows for "N" hours. (mins, days or weeks)
I think your "stop" strategy is pretty solid but how do you determine when and by how much to move your initial stop once the market moves in your direction?
Which market do you intend trading?
Steve
Your definition of a trend is good but I think you should define a time period. In other words a "trend is in place when the market is making higher highs and higher lows for "N" hours. (mins, days or weeks)
I think your "stop" strategy is pretty solid but how do you determine when and by how much to move your initial stop once the market moves in your direction?
Which market do you intend trading?
Steve
I was here, here I was.
Was I here? Yes I was!