M pattern W pattern double top double bottom.. there's nothing new under the sun Most methods work Most traders don't
ok. i know i'm on ignore, but i decided to contribute anyway. however, i won't be that explicit. who understands my posts, fine, who doesn't it just means they are at a level at which they need to understand some preliminary stuff. here i go: most traders starting out look at absolute losers and absolute winners as per their setup, which are black or white areas. the key in profitable, successful trading is to be able to operate in the GREY area. no matter what the initial edge (entry) is ... the best way to operate in the grey area is to first understand that the market is always right, know how to take your cue from the market message and then make financial decisions based on that cue...
I like your posts. please contribute. can you give some ideas of how to take cue from the market message? are you using dom data or pa?
i use PA, but each trader can use whatever he feels in whatever way he feels after knowing his market. everything is custom made. change the instrument and you need to change your approach. change the timeframe and you need to change your approach ... and taking your cue from the market must be in correlation with the approach. if you are all about cutting your losses the shortest way possible you take one cue if you are more loose you take another cue and if you are all about profits you need to take another cue (however this last one is not reccommended) i think the best way to add value to this thread is for people to come up with ideas of how to play this setup based on different approaches (styles) as described above. and everytime the setup rules (initial entry) get too complicated, ... simplify because it really does not matter that much.