I’d love if traders who share their trades would say, for example, entered 2641.25 Elevator, or TB, or Swing out of chop, so that I understand why the entry. And, even more importantly, rather than just TP 2639.5, say something like, TP 2639.5 and then say WHY. I usually see why entries are made, though I see missed opportunities, seemingly. I many times don’t, on the other hand, get why some exits are made. Thanks.
good point. i think alot of times trading the chop its just based off whats happened in the last couple hours. and in that way a breakout would make my trade a loss.
Couldn’t agree more. This is something I’ve long struggled to understand when people post their trades here. I don’t see how its helpful to anyone to just show an entry and an exit and how much you lost or made (even the poster, unless they’re just using it as a ‘trade log’ of sorts to track them). If the idea is to share knowledge and help others, those kind of posts lack the depth that is needed to enrich those who view/read them.
For entries, everyone pretty much follows the Rules for the various systems they are using. Such as Apex E entries, IZSS, Alchemy V and X cross entries. SEES swing breakout is one of the favorites. You have entries off of slings, elevators, Trend Catcher and even MVP entries. When to take Profit is dependent on you-the individual trader. Some are looking for a 1:1 Risk Reward and then exit. Some only looking for 5 or 10 tick scalps. Profit Poppers take Profit based on you tick size bar you are using. And then you have the Trend Traders that are waiting to hit one out of the Park.
Most of us follow something like the 5% Rule based off of our account balance. This gives us the Max Daily Loss allowed and daily profit to shoot for. When Profitable Target is hit, Quit for the rest of the day… Knowing your daily number helps to figure how many Profitable trades you need for the day… Then depending on the type of trader you are you are able to figure how many Profitable trades you will need for you Daily goal. I hope this helps as there is no ONE answer or One way to trade.
Now it is up to you to figure out what type of Trader you are and how you are going to reach your Goals. Have it be Daily, Weekly , Monthly and Yearly-everything depends on you and only you can accomplish what you want.
Traders helping Traders. We are here to help when we can.
yeah craig thanks for the explanation but this was in regards to people posting if they had a valid trade, or just took it.
