momentum cycle, congestion, moving averages..expect each correction,counter trend move, to be longer focus and check all these before entering any corrective move because a corrective move is also a trend. always proceed with extreme caution when going counter trend to a corrective move. with trend moves can be trusted more than corrective moves be careful of reversal bars ALWAYS CHECK WHAT IT IS REVERSING. this is for me to remember......i am not coaching anyone so please not discuss it
there is another point i want to stress or explain. there are a no of things: momentum moving averages price etc these are like the alphabets of the English language....you can learn each individually but you will NOT understand English literature by knowing those alphabets alone. so some traders swear by Brooks price action or by momentum or by something else so just testing ma will not help...you have to put it all together and that is what has taken me 12 years. I understand many traders focus on ma or momentum or volume or price.....and if you do that... then you are understanding a small part of market language and you have to a use stop loss because maybe 4-5 trades will be wrong.
if i am not bothered about my loosing why should anyone else care. this journal is for my record not for others to appreciate, make fun of or laugh at.... you may do all of that but please do not clutter my journal...do it somewhere else start another thread if you like
That's why you don't hold over the weekend close or over news for that matter. And Yes a SL can protect you and you can buy the highs and the lows ( not with 100% Accuracy ) you just don't know how to yet. It's all about having real entries where your risking 10pts with the potential of 30+++ pts.