DislikedHey Ryan! I think that you make a good point here. I take into account the R/R on my trades but rarely mention it when I post a chart. Granted, I have not posted many charts either as I have not traded that much in the past couple of months. My experience with this thread has been that price action has been the prevailing study of this group. Admittedly, I am one of those who feels satisfaction when I'm right. It's interesting though, in my other small business, the work is bid at a pre determined formula that changes with the variation of material/labor...Ignored
You hit it spot on, How many people do you know that are GREAT at what they do, everyone tells them to start their own business, they do then it fails..... It's poor planing just like how people trade. I see people posting up charts with 2-300 pip bars they would have to use for a stop, can it work sure but is it going to move 2-300 more to even make it 1:1 and are you going to just take 50 pips off and be happy until you get stopped out -300?
I think in risk that's it, that's all I do when I trade so I like the CT stuff of IB's due to the lower risk. I just see lots of people posting up charts and doing good TA but I really dont see anyone making any money or posting what they are looking for in a trade, or how they manage it if it goes bad. You made 50 pips, who cares, how much risk was in it? did you even take the trade? What was the target, what stop, what if it goes wrong?
Maybe I am asking too much but I have never seen anyone on here talk about what they do if a trade goes bad or how they manage a bad trade. For me I kill it if it starts going bad like I posted yesterday, I dont wait for the stop if it's going sideways I kill it, then I got back in short again 2-3min later due to it starting to look good again... Here is the chart
I killed it when it hit a new high, then I had a nice long bar up that I got short off of, if you throw up RSI you will see the divergence on the 1min with BB as well.
If no one else trades or posts about how they trade I think I am wasting my time here, I like to help but I like to learn as well and if all we are going to do is throw up charts that's just bullshit and anyone can show a great trade after the fact, put up a REAL account showing the trade then talk about it.
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Keep taking CT trades, I need more money