Giving up on waiting for reversals??

Discussion in 'Trading' started by Rashid_G., Oct 3, 2011.

  1. Years of waiting for reversals after price level is tagged and still suffer stop outs.. Thinking of just trading at the level and be done with it as the frequency of stop outs after reversal is no better, possibly worse... The varied behavior of reversals also frequently complicates the entry as well. Yes I could go to a lower time-frame to "fine tune" but I frequently end up in the type of battle I don't want to fight and usually lose.

    Even though the odds of the return to the high or low is remote after the reverse I just can't get myself to set a stop that far out.

    FYI, I am referring to countering reversals back to key prices IN the direction of the trend... like a 30 min against a daily.

  2. N54_Fan


    I find this post hard to understand. If you post an example trade it may make it easier for us to give you constructive feedback.
  3. NO REPLIES?? Traders deal with this every day..

    See attached... In an established trend buy NQ right at 2103.5 and 2164.5 supports OR wait for bar confirmation, then the risk is the trade is not validated over 5 to 8 points back, a risk amount I am not willing to take..

    A smaller time frame MAY allow me to get in BEFORE the signal bar is ALMOST complete but it's been hit and miss.