Consolidation breakouts

Discussion in 'Trading' started by mario0887, Sep 29, 2019.

  1. Turveyd

    Turveyd

    Your better off if you find a consolidation which is 50/50 kinda on the direction it'll turn after, getting in low on that consolidation pattern and SLing out cheap on that range failing and hopefully making many times the profit.

    The issue is, buying on the break out the break out could be false and your SL is likely going to be a fair distance below at new lows, so less upside and bigger risk.
     
    #11     Sep 30, 2019
  2. Usually 4h-weekly
     
    #12     Sep 30, 2019
  3. padutrader

    padutrader

    i have heard you voice this opinion many times.........TA is vast subject and to call it bs is very presumptuous.
    World class traders like Soros have gone on record saying that they use this TA 'bs'.

    so forgive me if i am stupid enough to follow Soros rather than you.

    and of course this is not a thread on whether TA is bs....so it is totally irrelevant.
     
    #13     Oct 2, 2019
  4. padutrader

    padutrader

    it is obvious that there are traders who do both.
    the successful traders do either one but they keep doing the same thing.
    there is nothing wrong with buying new highs.......and taking huge risk......because that increases probability of the trade working but because of this you cannot expect high reward and you have to adjust the reward expected to less.
     
    #14     Oct 2, 2019