Hello.
Thank you for replying, it definately cleared up some things for me.
I will always have more questions though.
You mentioned that you get alot of losses, but you recover them all by catching alot of pips. What i want to know is if a good chunk of those losses were once in profit before it went down.
My trading style is still in development, and my buddy whose attained success does alot of scalping. I am not sure about your feelings towards short term trading, but couldnt you just combine both methods to eliminate some of those losses?
The reason why i am asking these questions is because i want to combine both your method and my buddies method, to have different reasons to take trades both short term and long term.
Thanks.
My Response:
When it comes to managing my trades, I often find myself in a few scenarios…
Some trades I close have previously been in the green, while others I manage to exit while they’re still showing a bit of profit. This usually happens when the market structure hints at a likely shift in the opposite direction of my open trade.
Hence, I’m able to exit before it takes a turn towards a loss.
As for scalping, it’s not my strongest suit.
I can do it, but it’s not where I excel.
Merging a scalping system with my strategy could bring about some advantages… It might mitigate some of the losses you’d experience by solely applying my system. However, persaonally, I’m not sure I could make it work—too much pressure!
Balancing focus between quick-fire scalp trades and managing larger positions in the backdrop would probably be too much for me, and I’d end up losing more.
If you can make it work, though, by all means, go ahead.
Enjoy the rest of your week!
PAN.