General Trading Chat

[TracerBullet]

ST da,
Also, how do we manage inside bar pullbacks in 2 bar trail. Where should TSL be when we have those 3 inside bars pullback within WRB.

My guess - keep it above WRB initially and if price moves down then move it above inside bar pivot High. This will allow us to hold through weak pullbacks and wait for new low but give us bigger stop on v reversal.

TSL and exit are tougher than entry, but I think as a general rule, (I am still working on practicing this) move SL on pivots only when there is new low, unless price does something like give a virtual low or arrives at a support and pulls back with a hammer or something like that. I think also if 60 min bar closed at Support could exit. ...most of the time to earn a few points we move SL without lower low and it ends up costing more in terms of missed moves over several trades. 2 bar back on vertical type moves i think not on sideways. Best to forget FTC bro.

Its personal preference but would you prefer to trail though sideways chop? It can get a bit unnerving. In this case it made lower highs, but we can also get reversal.
In ST-style entry management, we will get out at BO Bar(First line). I think in this case i will prefer to exit using same and look for new setup. Shouldnt Price failing to hold BO be sign of trend weakening?

 

[mittens]

If one has properly back tested his strategy and it is profitable then why run away before it hits SL. Thats why i always recommend to do bar replay than running backtest afl. bar replay gives you confidence to hold the trade in good and bad conditions.

Yes, right always enter with proper MM and SL.
SL is always the hard stop, beyond that out under any circumstances.

But their are situations where you need to get out before the SL is hit.

Sometimes markets will go in your direction with force, Sometime they will limp. Always be with the direction of force, a entry and a limp move does not always works.

Sometimes you get entry and the candle reverses its a tail, your entry was touched and now you are at loss.

Sometimes you enter the next candles goes against strongly.

Exit, protect your capital. You can always re-enter.

Always be ready to re-enter, as your analysis suggests.




Let me add something :
This is all good if you are trading above 1H candles or daily candles.
If you are trading 5min candles and get out every 3 points it goes against..that's suicide.
When you have a SL of 50-100 points, then have more benefits of getting out and re-entry.

 

[Smart_trade]

ST da,
Also, how do we manage inside bar pullbacks in 2 bar trail. Where should TSL be when we have those 3 inside bars pullback within WRB.

My guess - keep it above WRB initially and if price moves down then move it above inside bar pivot High. This will allow us to hold through weak pullbacks and wait for new low but give us bigger stop on v reversal.

Its personal preference but would you prefer to trail though sideways chop? It can get a bit unnerving. In this case it made lower highs, but we can also get reversal.
In ST-style entry management, we will get out at BO Bar(First line). I think in this case i will prefer to exit using same and look for new setup. Shouldnt Price failing to hold BO be sign of trend weakening?

Will try to answer in the evening...during markets cannot apply my mind to long posts and charts ....not diverting to anything except the market trading.

Smart_trade

 

[copypasteaee]

Profitability and RR of the system increases in most cases....but these depend on each individual...some will say I have kept my stoploss so let the market hit it...some will say the trade is not working out so get out fast and re-enter if necessary.

Smart_trade

I was just writing about my way of doing things. I used to make losses in buy-sell-buy-sell entries trying save a stop loss and re-enter. The brokerage and other charges used to cost more than the cost of SL hit and some times SL didnt even hit.

It depends on skill level and i feel i am not that skilled

 

[wisp]

ST da,

Its personal preference but would you prefer to trail though sideways chop? It can get a bit unnerving. In this case it made lower highs, but we can also get reversal.
In ST-style entry management, we will get out at BO Bar(First line). I think in this case i will prefer to exit using same and look for new setup. Shouldnt Price failing to hold BO be sign of trend weakening?

Very true, but I would not call where you have marked your two bar exit as sideways chop because of the fall prior to that. After that fall price would require some room for play. I wouldnt hold in sideways/

 

[copypasteaee]

Yes, right always enter with proper MM and SL.
SL is always the hard stop, beyond that out under any circumstances.

But their are situations where you need to get out before the SL is hit.

Sometimes markets will go in your direction with force, Sometime they will limp. Always be with the direction of force, a entry and a limp move does not always works.

Sometimes you get entry and the candle reverses its a tail, your entry was touched and now you are at loss.

Sometimes you enter the next candles goes against strongly.

Exit, protect your capital. You can always re-enter.

Always be ready to re-enter, as your analysis suggests.

I keep my mind out of the trading mess. just blindly taking system trades and no real time analysis.

 

[mittens]

I keep my mind out of the trading mess. just blindly taking system trades and no real time analysis.

Good, a strong mechanical way of trading.

You know we have rules saying when to get out, and if those things happen get out. The few points I mentioned is in our trading rules.
Once you have enough experience you will follow these rules blindly.

Enjoy,

 

[copypasteaee]

Good, a strong mechanical way of trading.

You know we have rules saying when to get out, and if those things happen get out. The few points I mentioned is in our trading rules.
Once you have enough experience you will follow these rules blindly.

Enjoy,

trying to learn from you and other esteemed member of TJ (ST da, Pratap Ji, XRAY ji, timepass ji, TR Ji, PT Bhai and the list is very long). hopefully some day i will get enlightened.

 

[copypasteaee]

looking for SBIN to hit sub 140 levels soon.

 

[mittens]

trying to learn from you and other esteemed member of TJ (ST da, Pratap Ji, XRAY ji, timepass ji, TR Ji, PT Bhai and the list is very long). hopefully some day i will get enlightened.

Thanks, but I am also learning from ST and Pratap.
Lets have a fun journey.