DATE: Fri, 15 – 03 – 2019
Oh, well… Occasionally, we see OPs don’t get triggered; expected risk of doing pending order. This was one of those days. However, as far as the Price dynamics go, they have been anticipated in the Rulebook; especially with the new rrr-based trailing stop. The Results below assume my OP was triggered to describe the play by play of the Trade.
This early-bloom Breakout started on Candle 05:00. Candle 08:00 formed the first bullish Candle in the signal period, which was my signal to open Trade. Next, Price moved strongly up to 0.5 – 1.0 rrr area creating 2 TBuCs already, but it got halted around TP zone. The next Candle touched and pulled back down. Since it’s only 2 TBuCs showed up, I won’t close the Trade just yet. On the other hand, it was also time to move SL to Level 50.0 since two Candles were already staying in 0.5 – 1.0 rrr area. Price moved around that zone since then. Candle 14:00 touched TP again, but closed below it; creating the 3rd TBuC. I would’ve closed the Trade here immediately after the Candle closed. Later on, Price moved down and up and down again. before started residing gradually until end of day, and closed slightly above 0.5 rrr level.
1. Reminder to myself that OP not triggered is part of the game. Specifically, part of the risk of pending order policy.
2. This was rather a smooth-sailing Trade. Hence, the new rrr-based Trailing Stop wasn’t much needed, unlike in previous day’s Trade. But that’s the point. Better be flexible than less profits, right?
3. The TP policy also worked well in this trade. I have some ideas to combine it with the rrr-based trailing stop. But decided not to undergo it. It’ll just complicate things unnecessarily.