yes 100% imo you are letting the market decide where its going, rather than forcing your opinion on something that doesnt give a damn (doesnt even have a conscious) if people decide, they could fuck it up - like jack said 'money blinds'
In the case of bracket entries, let me add that I think it is far superior to try to predict which direction the BO will occur and to take the entry inside the consolidation at the maximum contrary move before the BO, or during a false BO. That prediction also offers the lowest risk entry if you are wrong. I don't understand this bias against prediction. We do it all day long. Call it forecasting, modeling, simulation, projection, extrapolation, thresholding, whatever sounds better to you. I predict when I step off the curb into a two way street in the U.S. that there won't be any traffic coming from the right, but that doesn't mean I don't look that way anyway.
shhhh....don't be giving any advice about low risk trades in here. i also like this approach and like to place a stop-loss just above/below where I take the position. that way if i'm wrong, I'm not out much (as long as the stop is triggered) Anyone who enters a position is predicting the direction of the market unless the position is taken as a hedge.
Scotch, this has devolved into a Grob109 thread, and I am just doing my part to support that by mentioning risk. My reading of him is that he is building up certainty and reducing risk, in spite of his abhorrence of system trading words like expectation. His claim of being able to exit a bad trade ("wash", as he says so quaintly) with little or no loss is consistent with that. Otherwise he would be so badly wrong that the trade would quickly get away from him. Regards, Al.