Andas, 2 quick questions: 1) what does LOTM mean? (low of the ? possibly) any other terms similar to those I should be familiar with? 2) your arrow around 16:49.. was that ideally a short or long trade? If long, how did you decide the trend had changed from a downtrend? Me personally, could only catch the afternoon session, and caught 1 scalp.. I thought today was tricky after the initial morning move downward... All I kept watching is the bouncing around forming a triangle in the afternoon on my 30 min anchor chart. This led me to believe there would be alot of "bouncing around" and no solid moves... So I thought perhaps even fading S/R with tight stops might be the right thing to do... Which begs the question, I know it seems like a bad idea for a trend following system (AHG) but are there days where you sense "no real action" and change the methodology and scalp or fade? Or is that just asking for trouble? advice?
Traded poorly this morning, made up for it in the afternoon session. I need to work on taking entries closer to support/resistance. 6 trades + .25 1-Loser 2-Loser 3-Loser 4-Winner 5-Loser 6-Winner
Each buy/sell is sent with a 2 point stop. After my order is filled, I look to tighten...if possible.
Casper, Seem like I take a couple of full stops a day. Most of my full stops come from fullish trades, but I could stand to sharpen my entries on my good trades as well. Also, I have been working on trailing my stop further behind, trying to let my winners run....so I am trying to get used to taking the occasional full stop BYF
This seems odd because on numerous occasions in his thread a year back he mentioned that this issue did not seem to affect his trading and didn't think it was worth switching platforms.....