DislikedThis is why I'm practicing recovery; have to follow Al till I can make this my own...learning the longer trend you can hang on to is the most important part and so little has been discussed so far...but I know it will with time.Ignored
1- Following the four basic rules.
2- Giving price plenty of room to do its thing until it relents and goes the way you want. This is similar to Deep Sea Fishing. To bring the big Tuna in, you first have to give it plenty of line. If you have a short line (Tight Stop Loss) the line will snap and the tuna will go free.Once the tuna tires of the fight, it will give in like price does.
3- Following Recovery when price gets far enough away from you.
4- Making sure that your position is small relative to the size of your account (2% to 4% maximum initially). This is what will keep you stress free and will allow you the maneuverability to be able to use Recovery.
Observation is the path to discovery.