Rise or fall....a better me!
- #642
- May 4, 2020 10:24am May 4, 2020 10:24am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Simplicity is the Ultimate Sophistication.
- #644
- May 4, 2020 12:38pm May 4, 2020 12:38pm
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Simplicity is the Ultimate Sophistication.
- #647
- May 5, 2020 5:18am May 5, 2020 5:18am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Simplicity is the Ultimate Sophistication.
- #649
- May 5, 2020 5:31am May 5, 2020 5:31am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
Simplicity is the Ultimate Sophistication.
- #653
- May 5, 2020 7:01am May 5, 2020 7:01am
- Joined Oct 2012 | Status: Trader | 1,696 Posts
{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.
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...
Simplicity is the Ultimate Sophistication.
{quote} What counts is to have a (risk) plan from the beginning and it seems that you have one so all good
- #658
- Edited 5:54pm May 8, 2020 5:31pm | Edited 5:54pm
- Joined Oct 2012 | Status: Trader | 1,696 Posts
{quote} BT what do you say? Already 30% in? Waiting for news? Waiting for the next week?
{quote} Currently it's one head-fake after the other.
The reason I see is that we are approaching the end of this compression triangle on the 4 hour chart so the more we go to the right, the shorter the trends...
And it ends only begin of June.
Time to be careful...
Simplicity is the Ultimate Sophistication.
- #659
- May 11, 2020 2:06pm May 11, 2020 2:06pm
- Joined Oct 2012 | Status: Trader | 1,696 Posts
What to do when contrarian signals appear very closely.
I know that it looks counter-intuitive to continue to add to losing positions and moreover continue doing so after a sell signal appears.
The logic here is that since I began building a long position when the long signal appeared after trend 20-14, I don't want to switch between long and short that fast during a so weak and slow market.
So I'm waiting the price action to either invalidate my long trade by making a lower low, lower than last swing low or on the contrary validate it by making a new high higher than the last swing high.
So as counter-intuitive as it seems there is some logic in this, hopefully ;-), and most important, I'm trading according to a plan and with a pre-determined risk.
Let's see what the outcome will be...
I know that it looks counter-intuitive to continue to add to losing positions and moreover continue doing so after a sell signal appears.
The logic here is that since I began building a long position when the long signal appeared after trend 20-14, I don't want to switch between long and short that fast during a so weak and slow market.
So I'm waiting the price action to either invalidate my long trade by making a lower low, lower than last swing low or on the contrary validate it by making a new high higher than the last swing high.
So as counter-intuitive as it seems there is some logic in this, hopefully ;-), and most important, I'm trading according to a plan and with a pre-determined risk.
Let's see what the outcome will be...
Simplicity is the Ultimate Sophistication.
