Dislikedi face this problem too and i kinda have my own rule now.
usually for PB and engulfing trades (BEOB/BUOB) the next daily bar (i only play daily for now) should follow through with the direction of the trade you're taking. something like this:
Attachment
If it hits a stalling pattern then its advisable to close at a loss and wait for the next A + set up.
IMO its useless to try to stay in the trade and hope it goes your way. the toughest thing to do is to take a loss but we have to think in the long term - this trade MIGHT work out...Ignored
great stuff F, this is EXACTLY the type of stuff to track.
Losses happen, but it's about making them tolerable and easier to recoup. For me avoiding my full bar losses and keeping myself int he game for the runners is where I feel most comfortable. Take 2-3 losses in a row that are quarter, halfbar etc, is WAY easier emotionally to deal with and overcome.
But again it depends so greatly on what is comfortable and works for the trader
Best
Mike