Rise or fall....a better me!
5/6 candle swing low swing high Indicator 5 replies
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Trading Swing by Swing 39 replies
Swing highs and swing lows 3 replies
swing high/swing low indicator and volume tic history 13 replies
DislikedYes it looks like, we still need a close below SMA for confirmation but have already entered 30% of next position. We still must be alert, there is the possibility of a fake signal if we come back above the trend...Ignored
DislikedWell sometimes the market don't want you to make profit with stop hunting. {image}Ignored
Disliked{quote} You will have a hard time trading this system with such tight stops. It's normal to cross the SMA and test the previous trend-line before a move, we see that almost all the time... That's why I only enter 30% of my final position on the signal and wait for the retracement to add more. I have now closed it for a small profit as I'm waiting for the retracement, we could bounce again near the SMA or even beyond so I think you will maybe have another opportunity to enter...Ignored
Disliked{quote} You will have a hard time trading this system with such tight stops. It's normal to cross the SMA and test the previous trend-line before a move, we see that almost all the time... That's why I only enter 30% of my final position on the signal and wait for the retracement to add more. I have now closed it for a small profit as I'm waiting for the retracement, we could bounce again near the SMA or even beyond so I think you will maybe have another opportunity to enter...Ignored
Disliked{quote} I agree with you, I'm just testing different type of risk management. For the moment the tight stop loss works great for me since early march with a total of profit around 20% risking 3% per trade. It allows me a decent risk reward ratio. My risk management is not the same as you, I close half of my position at RR 1:2 then set to break even and close after a trend break-out. I'm just a beginner and I'm learning so this is just a test for me. Of course I gladly take your advice into consideration.Ignored
Disliked{quote} What counts is to have a (risk) plan from the beginning and it seems that you have one so all good Then, remains to see if that plan gives you enough room to trade these swings, that's what you're testing like myself and think most of us. I think that the system is quite good, the only issue is that it behaves like a wild horse at the beginning trying to catapult you out of the trade, so finding the most secure way to stay on the horse at the beginning to enjoy the ride once that the trend is established...Ignored
Disliked{quote} BT what do you say? Already 30% in? Waiting for news? Waiting for the next week?Ignored