DislikedHi Dan,
Thanks for the answer. So let me try to summarize my understanding and you can tell me if it is right or not :-)
When you enter a trade your stop is located at the other side of the signal candle that got you in. So the extreme if you like.
Then you move your stop to break even once price reaches a level that could pose as an issue to break. You then generally leave your stop at break even until you get another entry signal at which point you may take the new entry and also move the stop from break even to where your new stop would...Ignored
A's to your Q's in blue...
When you enter a trade your stop is located at the other side of the signal candle that got you in. So the extreme if you like.
Yes. Sometimes directly above it, sometimes a little further if I feel a little extra room might be needed.
Then you move your stop to break even once price reaches a level that could pose as an issue to break.
Yes.
You then generally leave your stop at break even until you get another entry signal at which point you may take the new entry and also move the stop from break even to where your new stop would be placed which one would assume again is at the extreme of the signal candle?
I do take the new position but the stop of my earlier position isn't necessarily moved at that point. I only move my stop to protect profit once I am sure price is far enough away that it will only get taken out once the trend changes, which leads on to...
Finally you exit all positions when the trend changes? Is that all about right?
You got it!
Regards,
Dan