Hi snsdmonkey,... The trade only risks about 0.5% of my capital?
I am not quite sure the bottom support is drawn correctly though, could it be moved up a bit or is this one fine?
I know that 8% per trade is high, I also know 0.5% is low.
I think you are talking risk to total capital,
because I make $0.77 in $35.72 to be 2.1%
As I said, I am no expert.
Question is, do you want to learn about stopping out often or learn about losing big money.
I think stop losses should generally be set say a point under the previous support. What percentage that is depends how close you enter after there is a base of support. That comes back to picking tops and bottoms which is a subject of that other thread.
Hi snsdmonkey,
I am not saying this is correct, but please consider!
I looked for and found the post regarding the 8% SWEET SPOT:
https://www.aussiestockforums.com/forums/showthread.php?t=27620&p=801036&viewfull=1#post801036
@Trembling Hand
Thank you for understanding what I meant, rather than what I writ.
If you were to move it "up a bit", could you show us where you would move it to?
If you were to move it "up a bit", could you show us where you would move it to?
I found a relevant thread:Here is where I also thought it could be which would make the trade worse given that the channel is a lot more narrow. Also it didn't make sense to me because the SP seems to have clearly punched through the 'support' twice. ...
Here is where I also thought it could be which would make the trade worse given that the channel is a lot more narrow. Also it didn't make sense to me because the SP seems to have clearly punched through the 'support' twice.
View attachment 56785
Here is where I also thought it could be which would make the trade worse given that the channel is a lot more narrow. Also it didn't make sense to me because the SP seems to have clearly punched through the 'support' twice.
View attachment 56785
Just started learning candlesticks,
I wouldn't bother....
I've wasted years looking at charts, trading 'levels', 'support/resistance', 'patterns' etc etc.
I'm convinced that answer to real profitable trading (as opposed to punting and sometimes getting lucky) lies somewhere else.
Something that is never discussed out of the fear of letting 'cats out of bags'.
(nothing to do with DOM /t+s / Charts etc etc)
I'm sure It's out there though, Mulder....
You're right, its called....
Insider Trading
that would be even better
But I think there's something available to those not privvy to insder info, that isn't discussed.
Maybe John1 (a fellow aussie, begins posting at around post no. 66 i think) alludes to it in this thread:
http://www.trade2win.com/boards/home-trader/72058-trading-without-charts-9.html
that would be even better
But I think there's something available to those not privvy to insder info, that isn't discussed.
Maybe John1 (a fellow aussie, begins posting at around post no. 66 i think) alludes to it in this thread:
http://www.trade2win.com/boards/home-trader/72058-trading-without-charts-9.html
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