Hello Edward,
I know the stop loss is psychological thing,but consider this, without having rules to place stops the decision lies in the traders hand.
Now Market moves by institutional moves and they follow pivot zones,now why decide the target for yourself when you could see the Max potential of the trade right away at S/R line.
I posted the bar chart for sequential exit.
Now Sumit and all entered with crossover, i saw Engulfing pattern and entered based on that now we both have the same entry different reasons,then why not the same exits,because in the end he was also using the same pattern that i was in some way.
As i saw every entry in lazy boy revolves around those 4 Patterns that i said earlier.
So if Price action trader and Crossover traders,Institutional traders enter based on the same pivot zone,why do the traders believe they can max out the trade above institutional buying/Selling.
Now this say that institutional traders place entry based on these levels is true,because i don't think so they place orders based on Mechanical system.
They have buy 1.25 sell 1.60 etc
Now i have examples of Lazyboy when after crossover the trade was setting up the price was going north it hit the level 12 pips away then headed south with the south going candle becoming the candle with the bearish crossover(ie another crossover in lazyboy) and the third candle from the first crossover as the new trigger.
So i say exit part is not that difficult.
Regards
Tavnaz
I know the stop loss is psychological thing,but consider this, without having rules to place stops the decision lies in the traders hand.
Now Market moves by institutional moves and they follow pivot zones,now why decide the target for yourself when you could see the Max potential of the trade right away at S/R line.
I posted the bar chart for sequential exit.
Now Sumit and all entered with crossover, i saw Engulfing pattern and entered based on that now we both have the same entry different reasons,then why not the same exits,because in the end he was also using the same pattern that i was in some way.
As i saw every entry in lazy boy revolves around those 4 Patterns that i said earlier.
So if Price action trader and Crossover traders,Institutional traders enter based on the same pivot zone,why do the traders believe they can max out the trade above institutional buying/Selling.
Now this say that institutional traders place entry based on these levels is true,because i don't think so they place orders based on Mechanical system.
They have buy 1.25 sell 1.60 etc
Now i have examples of Lazyboy when after crossover the trade was setting up the price was going north it hit the level 12 pips away then headed south with the south going candle becoming the candle with the bearish crossover(ie another crossover in lazyboy) and the third candle from the first crossover as the new trigger.
So i say exit part is not that difficult.
Regards
Tavnaz