Wow the first 5+ pages thread in Elite traders where I did not learn nothing, let alone even the legendary post on why technical analysis is good was way more instructive. The point is how can OP, if is not trolling ,assert that exists a reasonable method to avoid always SL(~= the trade goes against the direction foreseen) if the market has a component of variables that per definition cannot be controlled? A manipulation, a news, a flash guy, a fed idea, How many roads must a trader walk down Before you call him a trader?
Well, it's easy to say after the fact where a stop or target should have been. Here is a chart, one like you requested, in this scenario i have just entered a long trade, following what you have described earlier as the entry rules. Red line indicates early support like in your example, somewhere around the blue line is the suggested entry point. (i used the example you gave on page 5 of this thread). Please tell me where the stop and target should be, to make sure the stop will be avoided. (You can click the image to see the full resolution screenshot).
Sorry for my delayed reply bro.... Thanks for trying the early trend strategy. This is my exit strategy... 1. Have a bit more liberal stoploss more you experience your stoploss hits and immediately turns back and moves in your expected direction. (This only increases your confidence in early trend strategy) 2. My Target is when i see sudden-huge raise (profit) i will immediately exit, otherwise i will continue traveling with the trend. (Sudden-huge raise usually marks the end of trend) When you become an experienced early trend trader you may even FORGET to place a stop. But that's OKAY. Who needs a stop when trading early trend? This is pure confidence, NOT arrogance.
I have clearly/explicitly defined the early trend strategy that's why one buddy trader was able to try it in the a above trade.
For your convenience i am putting all the stuff in one place. BACKTEST Setup (Index only) (Non currency/commodity) 1. INTRADAY chart only (LANDSCAPE view only) 2. ONE minute LINE chart only (see my example charts BELOW) 3. No indicators at all First and foremost CAREFULLY recognise sideways market movement otherwise you may MISREAD it as early trend. Early Trend Look for one of these... 1. Market opening 2. Breakout from sideways movement 3. Trend reversal Early Support/Resistance 1. In a volatile market wait for RED mark and enter at BLUE mark like in my FIRST example chart (See my below post) 2. In a relatively sideways market enter at BLUE mark like in my SECOND example chart. (See my below post) EXIT Strategy 1. Have a bit more liberal stoploss more you experience your stoploss hits then immediately turns back and moves in your expected direction. (This only increases your confidence in early trend strategy) 2. My Target is when i see sudden-huge raise (profit) i will immediately exit, otherwise i will continue traveling with the trend until it fades out. (Sudden-huge raise usually marks the end of trend)