Not entirely true. You can still enter with a 1-point stop after getting confirmation, if you wait for a retracement. Breakouts usually retrace. The points you lose in execution should be made up for by a higher win percentage. That said, a 1-point stop is extremely tight. 1,5-2,0 points may forgive you for less than excellent execution. In the end, it`s a matter of style and preference. Yesterday was not the best example as the range was extremely small. I did eventually execute on the right side, my problem was that I did not take profit at obvious support. I was probably influenced by my last trade and tried to get back what I lost and then some. Completely irrational and losing behavior
neither direction really is all that convincing right now. I might call it quits for the day. Long looks more likely, but I'm having a hard time getting a handle on this price action :/
I suggest you prove it to yourself: Try entering on extreme tick readings, since you are already using that indicator, instead of 5 minutes after when the tick has backed off from the extreme, and do it for a while, and see if your bottom line improves.
I can see you are trying extremely hard and you may be still a bit nervous....that said, if I could offer you one little bit of advice... FORGET about LAST TRADE...it happened ;it is over and not a thing in the world will change it... Focus on what it is you see in front of you and make your best judgement....the only person you have to answer to is yourself.. Good luck/trading NiN
I`m painfully aware of this and have improved immensely, but it still sticks. I have however improved greatly since I started focusing on weekly benchmarks/targets as opposed to daily goals. Thanks NiN. Same to you