Why do my breakouts smell?

Discussion in 'Strategy Building' started by Bogwaluth, Jul 12, 2006.

  1. So I came up with a fairly simple method of trading breakouts intraday off a five minute chart. When I go back and look at any chart, it works like a charm. When I try and trade it live, I always end up shorting the low and having my stop get hit. Same for longs.

    My tape reading smells, I can't trade breakouts, I can' t put my finger on anything that may work.

    Whining over. Just needed to vent. It's not like things don't move.

    I feel like everytime I enter an order I am immediately fighting the market. Even fading myself ends up fading the fade.

    I need a drink.

  2. Trading what?
  3. Why not post a chart to show us what you mean.
  4. You should just fade yourself.
  5. You never came up with any method at all. Maybe skip a few drinks.
  6. NN, it's a personal thing, but I find that a few drinks help to distract me when my systems say I shouldn't be trading. Drinking performs a similar function as does ET.
  7. OK, no sweat.
    I only did my best to help that poor soul.

    Contrary to you, with me, drinking has no functional relationship to ET! :)
  8. I did.. but, it is very hard figure out when you should just fade, or when to fade your fade..

  9. Are you using volume in your system? Check out this site http://www.chartpattern.com/
  10. I think he has a good question, Jackevant, even. When and where do BO's work? I still want to know what he is trading. I'm here to help.
    #10     Jul 12, 2006