I must confess, this got me blown away. Thanks for this
1
- #162
- Jun 1, 2018 3:15am Jun 1, 2018 3:15am
- Joined Aug 2011 | Status: Mos P from Cape to Cairo | 2,712 Posts
Let it turn and find your entry.
- #166
- Edited 7:36pm Jun 1, 2018 3:58pm | Edited 7:36pm
- Joined Jun 2007 | Status: trader | 1,703 Posts
As an additional aid, the Gann hi lo indicator may be of help. If waited until the reversal is confirmed with Gann, the loss wouldn't have been there like in the picture. The input value is 5 in the pic, but try other numbers like 4, 6, 7, 8 ... As the number increases more conservative. Just a suggestion.
But soon or later, positions will turn to positive as Brian's method is intended.
RS
But soon or later, positions will turn to positive as Brian's method is intended.
RS
- #171
- Jun 2, 2018 9:58am Jun 2, 2018 9:58am
- Joined Mar 2017 | Status: Impeccable | 2,829 Posts
IMO ...eurnzd will not go north yet, because, trend line slope is down,... price action is down.....tdi direction is down...currency strength meter is still weak.
Self discipline It is a practice
- #178
- Jun 3, 2018 10:24am Jun 3, 2018 10:24am
- | Membership Revoked | Joined Dec 2016 | 1,824 Posts
da n0o0b + $hit_Disturber 
- #180
- Jun 3, 2018 4:59pm Jun 3, 2018 4:59pm
- Joined Jun 2007 | Status: trader | 1,703 Posts
As you will notice in viewing Brian's charts, positions are added up as the trend goes in his favor; Pyramiding up.
This topic is well explained here.
An excerpt:
"Adding to Winning Positions
It is now fairly recognized among experienced traders that one of the best trading strategies you can adopt is to add to a WINNING position (as opposed to a losing position/averaging in). The other is of course to take profits before the trade turns into a loser!
This is easier said than done in practice because the theory is (which is against human nature, because when you lose you tend to try harder). Human nature dictates that if a share was worth buying at the previous price, it must be even more worth buying if the share price has gone further down. But this is flawed logic, as the original reason for entering the trade in the first place was in the expectation that the share price would go up, which it plainly has failed to do so far. So while it may feel unnatural, adding to winning positions essentially demands that you buy more when the share price has gone up, because then your position has started to look like a good one."
Take a look if/when you have time.
RS
This topic is well explained here.
An excerpt:
"Adding to Winning Positions
It is now fairly recognized among experienced traders that one of the best trading strategies you can adopt is to add to a WINNING position (as opposed to a losing position/averaging in). The other is of course to take profits before the trade turns into a loser!
This is easier said than done in practice because the theory is (which is against human nature, because when you lose you tend to try harder). Human nature dictates that if a share was worth buying at the previous price, it must be even more worth buying if the share price has gone further down. But this is flawed logic, as the original reason for entering the trade in the first place was in the expectation that the share price would go up, which it plainly has failed to do so far. So while it may feel unnatural, adding to winning positions essentially demands that you buy more when the share price has gone up, because then your position has started to look like a good one."
Take a look if/when you have time.
RS