Monday, 20 April 2015

3 comments:

  1. Thanks URD.
    I took the second trade BPB short a little early and missed on the main part of the move.
    I can say it was bad luck, but these "bad-lucks" are too frequent for me. :(

    http://traderinthezone.blogspot.in/2015/04/18-04-2015.html

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    Replies
    1. TZ

      There is really nothing like bad or good luck in the market, though we use this term quite often.

      What you refer to, has to do something with the entry tactics. Entry point depends on your feel and read of the market and acceptance and rejection of the price at the DP/range. You can enter either on direct BO or on pullback to the DP/range once you perceive it as a good BO or above/below the pullback swing. As a trader, it is up to you what you choose as your entry point.

      If you choose to enter only on above/below pullback swing and your SL gets hit but the validity of the trade still holds, I feel one can reattempt. Like in second trade, even if it got you out hitting your SL, once you felt it is still a valid trade because it held the flip and it was just a deep pullback after the break, you can reenter at a level where I pointed out in the chart.

      I hope I could convey what I wanted to. If still any doubt, please let me know.

      URD

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  2. Thanks. Yes you could very well convey the message.

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