sfsamperi.blogspot.com

You have to survive

You have to survive
Every day is a battle, survival is rule #1

Friday, August 15, 2014

Researching

I know I get distracted easily and my imagination is rediculous but i have been thinking.
What I like about the way I have been trading is that it really tests and shows off my exit strategy.  The comparison between various sized gains and smallish losses means gains overall.  But i think it is time for me to increase my odds.  So i will add one more basic concept.  Reversals at major S/R lines.  Instead of just using minor S/R for my entry and letting whatever random trend tell me what direction to go in,  I will base my direction on reversing from the first major S/R that price hits after the open.

Major S/R lines drawn using recent peaks and troughs on 30 min chart.  Various lines can be drawn.  I will enter on 5 min chart, assuming a reversal at whichever line price hits first after the market opens.

It makes sense to me that It should increase the odds of me getting a gain and the overall size of my gains.  Looking back at previous days this works very well but now I will test it in real time for the next few weeks or so.



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