Dislikedthanks, I get that now, but what would have happened if that downspike had gone down a little further and taken out the stop from the previous trade, would you have been out of the market waiting for a new setup bar or would you reverse and go short?
thanks Steve.Ignored
As far as that trade goes tho the sell stop before it was cancelled becasue the trade failed so we were waiting for a new setup bar. At that point I moved the stop back to the original location ( I hadent made the new rules yet) but now we would have put the stop at half the max profit. Either way it wouldnt have affected the outcome. Hope that clears things up. Me and my cuz Eric are going to re-write the rules more clearly tonight so I hope that makes it easier to understand. None of the rules will change tho.
-Sterling
Founder of Day Trading Forex Live