"Earlier entry didn't really affect the probabilities, yet, and once it moves in my favor, I pyramid quickly thereafter on the next retest/breakthrough to counterbalance in case I have/had few failed entries on being early."
Could you expand on this a bit for me? [/B][/QUOTE]
Once I determine what levels should hold for the current trend to remain in play, I enter on retracement to that level with a stop under it. (stop is entered with the buy order).
I used to wait for a confirmed bounce before entry, but TF is very quick and since I am discretionary I used to end up chasing it higher/lower. And since I set my stop based on price level, I exposed myself to too much risk. (Chase it 5 pts higher, with a stop 5 pts lower than the initial signal = too much risk) I don't change my exit based on entry, it is based on what the levels are.
Entry before confirmation should in theory expose me to more losers, but I alleviate that somewhat with following the market though several time frames. Once that level is confirmed in 2 or more time frames, it adds confidence (at least to me
) to the trade.
Also, like you, when I first started few years ago, I bought the CMT curriculum to study as much as I can about TA and indicators, and then I came back to price/volume. I only watch few indicators over the weekend; during the week price first, volume sometimes, but never intraday volume.
I also use the method that Zr1Trader mentioned about points. I find that it disciplines me in the "hunt".
Good luck tomorrow.