Hey guys, I'm a trendline trader, My setup is to look for trendlines with 3-5 touches off the h1 chart. I like to trade with the trend. I also use fibs, s&r, 200 & 50 ema to find confluence with areas where PA touches the trendline.
I just wanna know what everyone thinks the best method of entry is. as of right now i like to wait for some confirmation, let PA to go in my direction first, then look to enter about 20-30 pips before the Last swing high or low.
But im wondering if my win / loss percent will go up if i wait for the swing low or high to break before entering. Is there another type that i'm missing? please share.
1) Entry off the trendline, which is aggressive, but is more profitable, higher probability of loss
2) Entry 20-30 pips before Last swing lo or high
3) Entry 1-2 pips after last swing high or low, does it come with a higher probability of success? seems like there's a good chance price will definitely come back and retest that level, possibly triggering your SL breakeven. Also your risk and reward would be smaller.
Below is a chart example from last friday. I've gone live since January, 2011, I've won 485 pips lost 277, total of 207 pips, Not impressive at all, and would like to reduce my losses. I'll admit out of the 277 pips loss, some of them were not because of my system, but just psychological stupidity, and inexperience to live trading.
thanks.
I just wanna know what everyone thinks the best method of entry is. as of right now i like to wait for some confirmation, let PA to go in my direction first, then look to enter about 20-30 pips before the Last swing high or low.
But im wondering if my win / loss percent will go up if i wait for the swing low or high to break before entering. Is there another type that i'm missing? please share.
1) Entry off the trendline, which is aggressive, but is more profitable, higher probability of loss
2) Entry 20-30 pips before Last swing lo or high
3) Entry 1-2 pips after last swing high or low, does it come with a higher probability of success? seems like there's a good chance price will definitely come back and retest that level, possibly triggering your SL breakeven. Also your risk and reward would be smaller.
Below is a chart example from last friday. I've gone live since January, 2011, I've won 485 pips lost 277, total of 207 pips, Not impressive at all, and would like to reduce my losses. I'll admit out of the 277 pips loss, some of them were not because of my system, but just psychological stupidity, and inexperience to live trading.
thanks.