Thank you for this great advice. Although it seems so obvious now that trading within the chop is a bad idea, I guess is the inability to "do nothing" accompanied by the hope that the "new" range bottom will be the last and the fear that the BO will have no close enough RET, that draw traders into trying to trade within the chop.
It must be remembered, however, that chop can become a trading range. If so, the upper and lower limits of the range can be traded via reversals (which are not among the subjects of this thread). Thus one can be already in a trade when the breakout occurs. This always puts a nice shine on the day.
I just wrote down some facts in terms of the method which should lead to a positive attitude and outcome over time if the basics are applied correctly. Maybe there are a few more - and maybe some of them go beyond the lines stuff, but I decided to post them here - for whoever they might be from use... - the possibility to analyse the behaviour of buyers and sellers in real time using the lines - cleary defined entries - stop limit orders a little away from price to avoid getting caught on the wrong side - winners which could be way bigger than the potential losses - the rule to stop trading after a certain amount of losers in a row (two or three) - the global context - an overall positive expectancy in terms of winners and losers and wins and losses
9:31 Fast move, no entries so far, SL traced. 9:34 SL broken 9:37 Faster that I have expected, DL traced but no "actionable" RET so far. 9:40 Long at 98 DL fanned
Is this a tradable TR? The only entry I can come up with (out of my hat really) is a short at 96 at 10:01.