[quote=SABTrader;4066802]
LOL... that's my 'old' style of trading... 'set and forget' type entries via bracket orders. Better for my life style but not very profitable.
With Graeme's approach, we need to wait for confirmation based on when and how the current candle closes (and not just take a trade based on touching a price level). We are also 'forced' to watch our entries and move to BE and start stacking etc.
I struggle with this aspect as I want to trade to improve my life style and not just spend my 'life' taking low risk razor sharp entries on lower timeframes. I plan to quit my job and go full time to reduce stress and spend more time on the beach :- currently exploring ways to (semi)automate some of the strategies discussed in this thread.
DislikedDang it! Missed this spike down in the direction of my anticipation. Anyone trading on their smartphone? I think it is a must for any breakout strategy !
Why not place a stop order to enter on the breakout?
most brokers have this order type for entries and exits.
I consider my broker as my business partner.
They do half the work for me.
If I don't trust them I don't do business with them.
"I'm trying to embrace the reality that WE DON"T KNOW what will happen."
But when it does happen it is good to be positioned...Ignored
With Graeme's approach, we need to wait for confirmation based on when and how the current candle closes (and not just take a trade based on touching a price level). We are also 'forced' to watch our entries and move to BE and start stacking etc.
I struggle with this aspect as I want to trade to improve my life style and not just spend my 'life' taking low risk razor sharp entries on lower timeframes. I plan to quit my job and go full time to reduce stress and spend more time on the beach :- currently exploring ways to (semi)automate some of the strategies discussed in this thread.
Staying in my lane...