newscalper wrote:es/pip wrote:newscalper wrote:One thing that's been bugging me - why are a lot of people moving stops to break even when they are trading a method which is predicated on taking out stops which have been moved to break even?
i move stops to be ( when scalping) when i am close to my entry and the PA is not agreeing with what i am doing/thinking---- or below piviots which happen to be close to my entries at -1 or -2
i do not move stops to be after a trade goes my way ---- i take the profit
there is a difference
I see. So for example, if you're managing the trade on 5 min and you're up a few pips but a 5 min bar closes against you (but you're still up a couple of pips), you move the stop to b/e?
its hard to explain
i dont do anything the same any of the time
i dont have any set rule about anything
i dont let things close against me i just get out if i do not like it
like, lets say i have a m5 momo i short, i am looking for +20 into the s/r target. It goes down 5 or 6 and starts to pullback in, i am looking at the m1 and how they are forming and where the supply/demand s/r is on the m1. if i have a momo or s/d that it is coming back into i let it spike into it first and if it doesnt roll i just close it or pull stop in above a bars high.
if it does go and say my tp is 20 and it goes 10, i am watching how it went that 10. did it come into any s/d and how did the bars form on the way if it didnt make any new s/r or momo i will prob just bail when it stalls. where is it stalling? if it is into an extreme i will just take my +8 9 10 6 5 4 or whatever. if it creates s/r s/d or momo i will use that to maybe hold it against the pullback
i really cant explain it, it is just different every single time
maybe AJ can explain it as he seems to do the same thing