No system will work on all types of days, say whatever system we trade should be the one that gives big profits on trending days and keeps losses low or gives small profits on ranging/slow days. Large profit trades and small loss trades make a good system. I think this is what ST Da was saying.
It looks like a rangebound market rather than a reversal. If trading on rangebound basis, I guess it's okay to go short as price rejected a range high, but doesnt look ok if underlying thesis is a reversal.
Your short entry is within large green bar, also within yesterday's afternoon range, such an entry can go either way, we should not enter within this range.
#TIME STOP
I have observed that after I am swept into a trade via SLL/SLM order as per IDF(mostly breakdown and breakout trades), if the trade doesn't go my way within 15min., I mostly end up in loss in 80-90% of such cases.
Fellow members what do you think about time stop?
#TIME STOP
I have observed that after I am swept into a trade via SLL/SLM order as per IDF(mostly breakdown and breakout trades), if the trade doesn't go my way within 15min., I mostly end up in loss in 80-90% of such cases.
Fellow members what do you think about time stop?