Hello Es america is sleeping! can you publish your worksheet for today? I draw my own lines and it would be interesting to compare . I had 65 , 70.5 , 72, and this last one seems to work nicely
Some thoughts for today from a question I received earlier. Success in trading comes from 3 elements I believe, (in order of importance) 1. Trade Management/Risk Minimisation 2. Mechanical Trade entry (i.e. being efficient with your dealing station) 3. And lastly Trade entry Whenever I have posed this order to other traders its always aroused debate, I believe that the reason why 90% of people fail in this business is because they place Trade entry and Profits top of that order. The few that make it focus on controlling their risk, managing their trade and being mechanically very efficient with their dealing station.
Aamar - Would you mind explaining a bit further on what you mean here, specifically what a "dealing station" is. Is that Brit-speak for trading platform? Thanks.
Oooops, Buy near support, sell near resistance - I wanted to say, this is the conventional wisdom No 4, I guess ... How do you trade trending periods?
lol Long at 48.25 based on 47.75 area. Trade is now risk free. Good question Petrov, I have a method that I use on these kinds of mega trnd days, which I will document for you all when I have the time. But essentially... 1. I use S/R levels to go counter trend (based on a good set up). 2. If we get a retracment to a S/R level I will use that to go with the trend. 3. In a strong trend I use "dynamic" S/R will detail this for you all soon. apologies if any typos trying to manage trade at same time.
LOL....to be perfectly honest, when I first saw "dealing station" my immediate mental image was of a black jack table in a casino!