no need to apologize, appreciate the post. That makes more sense, i.e., having some kind of framework in mind before applying the tool. What I like about the forks is that they allow for entries that fly in the face of typical TA... Any other losing trade charts to share?
Shorted @ the red arrow (15/ 5 min - DT)..., trade broke down..., exited breach of same DT (circled on the 5) Within plan - I'd do it again in a heart beat eta - in this instance DT = double top.., and down trend line LH RN
cool RN. Interesting that you don't have your stop behind the previous swing high, looks like you play it very close to the vest. Good job keeping the losses small. Seems like the guys who thought double bottom against earlier morning lows were the cause of the spike.
Howdy M1 Vast majority of the time - I'm of the mind set - trade is either going to work - or it ain't This trade - expected to see a down move / with some momo - didn't happen Did move down w/ momo couple of bars later - but not on this particular trade btw - longer I hold a loser..., bigger the loss = more work it is to dig out I'm lazy RN
It's always at best a educated guess, going with the momo letting it run when right and killing it quick when wrong, is pretty much all there is to this game.
My (part-time) backtesting effort yielded a decent loser for you today. (It was a long shot, but within my plan.) As is typical for me, the losing position lasted just a couple of bars. (Too bad I didn't have a good enough risk-reward anywhere on the way down after that... Ugh. My trading plan's still young though, maybe it'll have something to catch such days in the future.)
First, great chart annotations, make it a pleasure to read, so thanks for that. Did your plan say that trend was up at the moment of your long entry? Or does the short term trend not factor into your thinking? If you don't mind me asking.