TheRumpledOne wrote:If you entered at 105.49, you could have had 3 trades.
Are these the 3 trades?
If yes, the 2nd and 3rd trades are above 20 pips daily low, why would you enter the trade?
RunnrX wrote:Hi TRO,
I hope you don't mind my question -- I've got the 2011 Motherlode pack and am loving the indicators in it, but I have one question about your execution and trade management in the rat reversal trades
according to your interview with Tim Bourquin you said you had a plan A and a plan B
Plan A was to use inital stop loss of 10 pips, then if it goes up 5 set stop to +3, then if it goes up 10 stop goes to +5, and up 16 gets the stop to +10. From there I've decided to use a 5 pip trail stop for anything over 20 pips
So that's plan A, but you said plan B was to exit fully at 10 pips without using profit stops --- but under what conditions would you want to use plan B? Is there a PDF out there somewhere that explains this? Or could you please write a line back to tell me about it?
TheRumpledOne wrote:This is funny, check out what the well respected trader, Sam Seiden, had to say this week:
http://www.tradingacademy.com/lessons/2 ... rticle.htm
"You see, this is where most people stumble. They don't go down the simple logic path we just went through. Instead, they buy a trading book that teaches them conventional Technical Analysis which is a very flawed school of thought. Or, they dive into the world of conventional Fundamental Analysis which has you buying when the news is good (at a high price) and selling when the news is bad (at a low price) which is a disaster for you, but a gift for those on the other side of your trades and investments."
Where have I heard that before?