forexbob
You found me out, I am a kameleon rat; I like the colors red and green. Once I master green, I will master red, then comes the purple.
Ultimately, when the market is ranging I would just assume sit on the bench. When it is trending green or red, that is the direction I would like to be going.
Patch
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- TheRumpledOne
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Hi...,
Here are my two cents for those who can't let a trade opportunity let go (Yale students):
If you are a trader with a strategy and a trading plan (let's say a green rat) and in your trading plan you risk X% of your balance.
Then if another strategy opportunity appears in front of your eyes (let's say a red rat reversal setup) and you simply can't let it go...:
You can open a position accordingly risking (X/100)% or (X/1000)% of your balance. At the end of the month you can assess if all those rogue trades were adding to your balance or not.
Cheers
Francisco
Here are my two cents for those who can't let a trade opportunity let go (Yale students):
If you are a trader with a strategy and a trading plan (let's say a green rat) and in your trading plan you risk X% of your balance.
Then if another strategy opportunity appears in front of your eyes (let's say a red rat reversal setup) and you simply can't let it go...:
You can open a position accordingly risking (X/100)% or (X/1000)% of your balance. At the end of the month you can assess if all those rogue trades were adding to your balance or not.
Cheers
Francisco
Hi TRO,
I am not exactly sure why we can't be a green and red rat at the same time. Since the daily high and daily low will not happen at the same time, that means we can apply the same method to both ends of the daily candle right?
Is there not a time when we should change the color of our rat, such as when we see a trend reversal in the longer time frame (i.e. weekly, monthly)?
I am not exactly sure why we can't be a green and red rat at the same time. Since the daily high and daily low will not happen at the same time, that means we can apply the same method to both ends of the daily candle right?
Is there not a time when we should change the color of our rat, such as when we see a trend reversal in the longer time frame (i.e. weekly, monthly)?
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