Your an experienced trader and thus can make a good judgement call. Don’t want to lead anyone who might read this into thinking they can run before they can walk.
Max pips/Max risk is a wick outside the bollinger and a subsequent change of candle colour and enter. Some times when trade is entered, subsequent candle will break back up and retest the previous wick, especially on the shorter time charts.
Safer trade is to wait for a break of the bollinger and wick as an indication of a trade. Then wait till ma confirms before entering a trade.
R. we were talking about stops on that other thread but I’ll pick up the idea over here and not get the breakout gang too far off topic. So you mentioned using a 10 pip stop. But when you and I were talking about the red MAs and looking at using a price line rather than candles. you had mentioned a 100 pip stop with the price line vs a 50pip sl with the candles. So you would base it on the previous high or low and bigger stops on the hour chart and smaller on the 15m ?
The stop on that last trade on GU over on ‘Win Ratio’ was proportionate to the trade. Highest wick was at 10 pips and were into slow time right now. I placed my stop just above the highest wick outside of the bollinger. I entered the trade at the next solid candle. As the trade went positive, I moved to 10 pip stop in the direction of the trade proportionately. First to BE then on down in proportion to how much and how fast price was moving.
The longer time charts tend to require a bigger stop. Depends where the previous high low wick is?
Took a BUY at point A based on the bounce from the red MAs on the 15min chart - this inidcated the trend was still pretty strong.
Went +20 in my favour then came back, stopped out for +5.
Then because of the down trendline on the 1hr chart and a reversal candle, I took a SELL at point B, which did nothing for 5mins then dropped suddenyl. Currently +30.
A: original SELL
B: stopped out though if my computer hadn’t crashed I may have closed for around +20 of the +30 available.
C: re-entered short on MA crossover
