how do you determine your ratios (e.g. 4:1), damon...
But really I try to buy dips and sell rallies based on the previous weekly candle. So this week again the big money went into longs and smaller money went into my short positions.
Lots of times I don't even pick a target, rather wait for price to start fading out, but I use BB 100, and 200 along with know support and resistence levels where price has bounced before. I am starting to use fibs, but I find those even more subjective then puting in my own trendlines.
Trading the hourly like I am now, I will put stops on 5M fractals that occured during the trend and not the range, and just let it stop me out eventually.
Other times I just take a look at what the "10's" have picked for there targets and then evaluate them on my charts.
Today Worm Boy was looking at 1.54000, but looking at the channel it could go higher and then have to watch my support lines in some choppy areas along the way. My reisience once it closes above 5290 is 5444, and we are in an uptrend, so I have no reason to believe it won't get there, and I watch candlesticks along the way.
Seems like a lot, but what else is a manager to do except to try and make good decisions for the team (trade)
I have really gotten into reading candles and candle formations, and this has helped me out a lot, and probably has been my biggest asset to date.
I don't know if this answered your question or not, but basically I don't have just one way, but bring a lot of different things into play and just let it ride to it looks like it is all over.
"Keep your eyes on the helpers" - Mr. Rogers
