When this occurs during liquid hours it tends to beat me up pretty bad. Best I can come up with so far is staying out when average volume drops and look to position on the first pop but would appreciate some tips from more seasoned traders. Setting channel lines with alerts? Any of you simply tighten profit targets and fade the wicks while looking to reverse if she breaks against you? trading hard.
Well, that's a trade secret no trader in his right mind will reveal, don't ya think? However, there are some key attributes you can look out for, such as low volume, inside bars, dojis, etc.
Yea I get it. Grateful even for minite hints. Like...are traders typically looking to anticipate the break and be positioned prior to the move? Example: selling @ prior highs if they have a downward bias...or...are they willing to give up a good portion of the move for confirmation? The issue I have with the latter is i would end up in the following...price breaks down below previous channel lows -> sell expecting continuation -> drops a few ticks then up as it moves against you on its way to form another doji (or worse) -> now where is the SL in this situation? No way i could hold till the The top of the channel... Lol...a trade being steady against you right off the bat and staying that way while you pray the price doesn't break upper channel highs lol. The worst. It's tough, on one hand you are fading low momentum but will usually end up either with some green cushion or stopped out pretty quick...not holding a bum for 15 minutes at least lol.
Are you familiar with SECOND ENTRIES? Are you also familiar with 3 BAR REVERSALS? Or, for that matter, HIGHER LOWS and LOWER HIGHS? **Hint, hint** Trust me, you don't want people to spell everything out for you. Only way to advance your trading is to think through on your own. Good luck!
Read & Study everything and attain a better understanding of market dynamics. It helps to develop a structured approach and know exactly why and when to trade. Just waiting for the market to move is not a game plan. (that's what 99% of losing traders do) Read and study everything from ... Linda B. Raschke Victor Sperandeo (Known as Trader vic) Michael Huddleston (Known as Inner Circle Trader)
are you trading such large no of contracts that volume is an issue. or are you trading illiquid stock ....
i do not believe in this.secrets. the most well known strategies work. second entries DB/DT when you enter the market you entering does not take it to your target
No to both. Almost no size and only trading CL contracts during liquid hours. Volume is not an issue, only looking at it against an average as an indicator of chop.
why not sell the first bear big bar closing on lows Brooks does that and his net worth is 675 mil. do the simple things.... use trend bars as entry bars