Weyk replies to: The Killing Floor


{quote} Yes, very good point. I find that I am getting stuck in some trades that go against me initially, however they never go more than 10 pips against me so essentially I am holding until it hits my TP. Based on other stats that Sis.yphus has shown us, as long as the trade does not go to 15 pips against me, it is most likely going to turn into a winning trade. I have a hard stop loss of 36 per post #1 for if I am away from the desk, but I will cut trades manually if they go 15 pips against me. I should look at refining[/highlight]…


Ah yes! You have pre-empted my reply!

Elsewhere, I ”trade lines”. This in itself has no bearing here, other than there is a method of trading pivots for instance, which has you wait for a break and close over a level, then wait for a retest and fail to close back over the other side. The entry then comes as you open a new bar below the level.

This is in effect what I was going to suggest you look for in relation to refining your entries – and is what you yourself have suggested is a possible solution. Cool.

My initial concern was that when scalping, we are looking for momentum to get us in and out of a trade very quickly and avoid the very situation you are finding. To me, this suggested that perhaps you were not maximising your trade entry time (in too early before in an established trend / move gives you our momentum).

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