DislikedI would like to try and breathe a little life back into this thread! Those who have been following my 2010 journal will know that due to the fact that I no longer have time to study H4 charts and babysit H4 trades I have amended my trading to suit daily charts.
Here is a brief summary of my current trading style:
Step 1 – Key Support & Resistance Levels
[color=black][font=Verdana]In my opinion horizontal support and resistance levels are the key to the...Ignored
This longer term trading adding to original positions is part off what I have been doing on GU and EU and of course works well in strong trend with only mild pullbacks to obvious PPZ areas. I tihnk the only difference is that I looke for PA on lower time frames when we reach a higher time frame PPZ area in order to try and get in with a smaller stop etc.
One question - how do you determine your risk for the original position and subsequent positions - i.e. do you base your risk on the extreme stop or the recent swing high / PPZ area and do you risk the same % of your account per position added?
All the best
Mark