General Trading Chat

[manish9300]

 

[vivektrader]

I think you are right, the breakdown of the outside bar should not have been entered into because the price closed with in the range.
Thanks

 

[manish9300]

I wasn't talking about the exhaustion gap here, my query is this,
If we take the OPENING TRADE as per IDF and within next 3 to 4 candles you realise its not going your way, does it make sense to reverse as it is likely to give trade in the opposite direction (as people are trapped in the direction of my original position which I took as per IDF entry rules), I mean only in context of opening trade.
The reason for my query is that most of the entries as per IDF are breakout/breakdown entries be it from range, mp or VP,so a failure which is soon detected after entry many a times rings a bell that we should either exit or reverse it.
I consider you much more seasoned as compared to myself so, if you find the above queries as idiotic, accept my apologies in advance.
Thanks buddy.

I think you dont need to wait for 3, 4 candles.St sir has shown the technique of early exit on close against you.As far as reversing trade is concerned what if there is a failure of failure and than again failure of failure of failure.There is a risk of falling in sideways overtrading trap here.Exiting is okey but reversing.... i dont think so.Perhaps one time reversing is worth it if we are trading at range extreme any other place its not worth the risk.But this is just my view.

 

[manish9300]

I think you are right, the breakdown of the outside bar should not have been entered into because the price closed with in the range.
Thanks

Its an outside bar but not a BO outside bar.Its a doji outside bar.:lol:

edit. i mean the bar has no bias.It closed inside previous bar range.

 

[TracerBullet]

I wasn't talking about the exhaustion gap here, my query is this,
If we take the OPENING TRADE as per IDF and within next 3 to 4 candles you realise its not going your way, does it make sense to reverse as it is likely to give trade in the opposite direction (as people are trapped in the direction of my original position which I took as per IDF entry rules), I mean only in context of opening trade.
The reason for my query is that most of the entries as per IDF are breakout/breakdown entries be it from range, mp or VP,so a failure which is soon detected after entry many a times rings a bell that we should either exit or reverse it.
I consider you much more seasoned as compared to myself so, if you find the above queries as idiotic, accept my apologies in advance.
Thanks buddy.

ok. Best leave answer for ST.

I have stopped thinking in terms of traps and BOF, only try to trade trends and reversals. Once its back in range, we can treat it as BOF. Even by Pivot method - If Range High is vERL, then we can short on pivot break below it - But only after there was some visual distance close above VPH. Best to take failures in direction of existing trend i think.

In an uptrend, i will go for short only after price pivots below vERL / or exhaustion gap / or lower degree trend. Else all longs. If short below vERL fails then - wait for price to move above vERL before taking longs. In sideways - trade sideways method. No rule for specific SAR trades

 

[manish9300]

ok. Best leave answer for ST.

I have stopped thinking in terms of traps and BOF, only try to trade trends and reversals. Once its back in range, we can treat it as BOF. Even by Pivot method - If Range High is vERL, then we can short on pivot break below it - But only after there was some visual distance close above VPH. Best to take failures in direction of existing trend i think.

In an uptrend, i will go for short only after price pivots below vERL / or exhaustion gap / or lower degree trend. Else all longs. If short below vERL fails then - wait for price to move above vERL before taking longs. In sideways - trade sideways method. No rule for specific SAR trades

Trading can be simple.Price can move only in two direction,up or down. If we can eliminate one direction through trend analysis than trading is reduced to a waiting game.(for entry). Trust me it really gets very boring when you do this.

 

[vijkris]

Trading can be simple.Price can move only in two direction,up or down. If we can eliminate one direction through trend analysis than trading is reduced to a waiting game.(for entry). Trust me it really gets very boring when you do this.

one should not trade for excitement as well..

 

[manish9300]

one should not trade for excitement as well..

Surely.If one doesnt feel sleepy during trading hours than he can be sure something is wrong with his trading.:rofl:

Not a single yawn during whole trading day.....ask yourself......Am i overtrading?

 

[rjshem]

Vivek avoid entry below such bars when u get such bars wait for actionabove or below such bars. Manish tracerbullet very nice going .s good trading is boring manish . Vivekthere was no trade there so no reversal too.

 

[wisp]

Trading can be simple.Price can move only in two direction,up or down. If we can eliminate one direction through trend analysis than trading is reduced to a waiting game.(for entry). Trust me it really gets very boring when you do this.

no sideways move?