Ambiguity on which should be the "true" entry candle? In hindsight we observe two candles that might be entry candles, but in realtime if the first candle showed itself we would have entered on the close. In that case with the second candle will our SL be taken out? How would the SL be set for this trade in particular in relation to the 4hr resistance turned support? This will be case study #1 in my notesCheers to everyone for your candid sharing! Thanks Rob for teaching us how to fish, wishing you great health! {image} {image}
1. trading is not about precision. it is more like an art.
a level is not a line drawn by a pen. it is more like a stroke drawn by a brush.
so a level is a zone. a SL is not on at the candle wick but with some buffer.
2. each trader has different amount of risk tolerance.
each will have their own estimate on much buffer to allow for SL.
3. we have different brokers servers resulting in different candles shape and wicks.
3. each trader has different trading experiences accumulated through the years.
then we have to ask ourselves what type of trader are we.
due to different personalities trading like scalper, intraday, swing, position.
in other words, it is only good that a trader after learning a method
to come up with a system that belongs to him.
incorporating things that he had previously learnt and build a system that better suit himself.
and all these come with experiences which involves discipline, hard work and only time can teach you.
ITB - Seeing Orderliness amongst 'Randomness'
