Sure I will give it a try. I used to use space that I would accumalate to pad my stops. I dont do that anymore. Now that Im stacking and conviced its the way I want to go it has become very important that I keep my losses extremely tight. I target sl 's at recent high or low or based on the 50simple and or 8 ema... as s/d for a sl. So if I am short I would be below the 50 simple and or 8ema, if price crosses back across the 8ema im out. Its not worth it. I am usually never wrong more than twice. When Im right, well here is where it takes some mental power to stay in! The 8ema helps me with that also, a lot of trends stay above or below the 8 ema which enables me to hold out longer. Another big tip is the colored boxes on my stacking charts, look at them. Those are session trading boxes. When price makes a new high or low from previous session, it tends to be bigger moves. which helps me hold longer also. If you look at the charts where my friend stacks(i post those too) he gets 15 to 40 pips per trade.... which is right in my comfort zone. He also has me convinced one good trade per session is all it takes.
I figure if I can master this like he has, I can trade two days a week and be done. Which is very interesting to me and my style of trading.
Let me know if you need better clarification...hope this helps.
judokamak wrote:doji....can you please explain a bit about your profit taking/SL. Where or when do you close your profit position-s and how do you set your SL?