Is break through and retest better than break through?

Beginner Questions
21

@jcena44 I think you should let the OP speak for him/herself, and come back when you have something helpful to say.

22

When you say you’ve had brilliant people on your team, what do you mean by your team?

1 Like
23

Curious, so what then is the correct answer? :open_mouth:

24

To help you on this, it is better to wait after a breakout for a retest as this will give you more clarity and confidence when placing a trade, as it allows you not to be stopped out by any fake outs or change in direction of the market. Hope this helps.

25

Since it involves support and resistance level. It’s better to wait for it to retest for sure in case of a fake breakthrough. Once it actually breakthrough and establish new resistance/support level then you can apply the strategy, don’t immediately trade after a breakthrough cause it can be quite risky.

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26

Since you are all in agreement then i must be wrong. k sorry to disturb this thinktank

27

Both the strategies are profitable in their own way and solely depend on the way the traders manage them. But, in order for the strategies to work, you’ll need to be patient. Most of the times the early moves prove to be wrong so it’s better to be patient and let the trade show its side first.

28

If you’re talking about a single trade, that goes the correct way then you’re right. But if it’s a fake breakout and shoots down then you’re wrong. The question is which is more profitable. You’d have to study a lot of charts to definitively answer that question, but the safer option would be to wait for a retest and trade when confirmed breakout

29

Ive done the research. Everyone here in agreement is guessing.

30

Are you able to share your research?

31

I’m happy to admit when I’m wrong. But unless you prove that then I stand by my comments. And you’re going to have a tough time convincing me due to the many different factors involved.

But please, indulge us…

32

Conviction is an internal process. I dont mind if you persist in this frame of thought, it works in my favor since this is a zero sum game. We all want to believe we are right, especially when others think like us. Keep an open mind. You might be wrong.

Answering the question requires deep creative thought and an extensive research campaign. There are no easy answers, just lazy ones. Ive looked at everything from every angle and taken both sides of the coin at every turn. That is all i have to offer on a public forum. The details i will keep to myself. I dont owe you an explanation, i dont even know you, i can say youre wrong and get you to think. Want specifics, look in the mirror and demand them. Ante up

33

@jcena44 - I have to wonder why you’re visiting a public forum for traders. Especially as this particular site has a structure and operation especially aimed at new traders who are in need of guidance.

2 Likes
34

I thought you were just an arrogant know it all, then I just read this statement that you made 6 months ago; ‘A good system ends every single day with at least 50% profit, and a perfect week hits 24k%’

So I now realise that you know absolutely nothing and have probably made diddly squat out of trading. I may well be wrong, but you’d be the richest man on earth starting out with £100 and performing at the lower end of those numbers for 1 year

35

I think both are good, I wouldn’t really choose one or the other. As long as the retest doesn’t turn into a false breakthrough, that is, haha. :smiley:

36

Chesterfester thats an ideal week. Just because you dont know how to do it, doesnt make it impossible. If its mathematically sound then it can be done. Stop claiming to know the limits because you have no clue it seems. 50% in one day is not easy but there are traders hitting 100% a day. I used to be like you setting limits acting like i knew what could be done before doing the math. You have a long way to go, in terms of trading math.

37

So what you meant was in a ideal week not in a good week. Make your mind up. I think you need to carefully read Tommor’s post. This is a forum to help people not play games. Either put up or shut up.

Fei-yu it is annoying when you set up for a retest and price shoots off, but trading is about winning more than losing, and in my experience a retest occurs more often. You could set pending orders for both. A simplistic answer I know.