When retracement has become a trend change? | Page 2 | Forex Factory

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When retracement has become a trend change?

  • #21
  • Jun 23, 2012 5:11am Jun 23, 2012 5:11am
Quoting forextraderx
no, your totally right here. no doubt. i'm just saying for ME... i am psychologically uncomfortable with anything less than a 60% win rate, aiming for at least a 1:1 RR.

it's hard for me to keep "stress free" if i don't have at least this, and a 1:1 or better RR (none of this risk 100 to make 10 pips nonsense)

I also absolutely hate drawdown. even open trade drawdown.

most of my winning trades never move against me more than 30 pips at any time before hitting targets between 30 pips, and 100+ pips.

again, a very personal thing...but I like...
Can't disagree with any of that, nice to find your own comfort level for sure...

Also... if you're unsure about the trend, or your idicator is muddled, you only need wait for the next impulse move and trade the retrace of that... it's impossible to miss all of it, the market keeps going.

Wait for the big guns to show their move and ride the wave... of course you need some patience, and traders are as impatient as any...
tradewith60
  • #22
  • Jun 23, 2012 5:14am Jun 23, 2012 5:14am
That's exactly it. If you have criteria, you get an idea whether it's a bull or bear market. Or just a lukewarm range - which means trend traders better be working on a lovely tan instead of trading.

Quoting forextraderx
great question. I personally have a couple criteria that I screen through to determine this, most technical, but some sentiment and even some fundamental.
forget about tomorrow, just steal away into the night
  • #23
  • Last Post: Jun 23, 2012 7:43am Jun 23, 2012 7:43am
Quoting forextraderx
no, your totally right here. no doubt. i'm just saying for ME... i am psychologically uncomfortable with anything less than a 60% win rate, aiming for at least a 1:1 RR.

it's hard for me to keep "stress free" if i don't have at least this, and a 1:1 or better RR (none of this risk 100 to make 10 pips nonsense)

I also absolutely hate drawdown. even open trade drawdown.

most of my winning trades never move against me more than 30 pips at any time before hitting targets between 30 pips, and 100+ pips.

again, a very personal thing...but...
You just described my trading style to a tee. I absolutely detest any sort of drawdown so like you I had to devise a way to enter trades as stress free as possible once the market makers had captured every bit of liquidity on the table.

Nice post
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