15 min. Breakout - tradingisfishing

[MSN1979]

Yes I am learning, so no shame in it. But lost you. I am scratching my head.

PS: this is not a PA strategy

 

[vivek.civil17]

Yes Consecutive losses does make one introspect his ways. We must do that too.

A great Trading system willl give majority wins and very minimum losses: GOD Level ( Not looking for this)

1. A good trading system, should give 1 win in 2 trades, and winning trades must be greater then loosing trades.
(Target 3)

2. Average trading system should give 1 win in 3 trades and winning trades must be greater then loosing trades
(Target 2)

3. Below Average Trading system should give 1 win in 3 trades and winning trades might be equal or slightly better then loosing trades. ( My Target 1)


Anything else we are wasting time. Right now my system is not in above mentioned 3. So Idea is to keep testing when we get 3 and 2. Giving up is not an option.

I suggest you to read something called EXPECTANCY ... cannot judge a method based on Win/lose ratio .

 

[Newbie Day-Trader]

I suggest you to read something called EXPECTANCY ... cannot judge a method based on Win/lose ratio .

It always astounds me how many traders trade without ever knowing about expectancy, which is absolutely integral to judging the profitability of any trading-strategy.

 

[newtrader101]

PS: this is not a PA strategy

Mack (PAT's trading manual) does use trend lines and channels.
Waiting till it hits the top or bottom of the channel, or for the pull back entry or 2nd entry--this is crucial.

 

[newtrader101]

It always astounds me how many traders trade without ever knowing about expectancy, which is absolutely integral to judging the profitability of any trading-strategy.

Perhaps there are different types of traders as there are individuals. For me, feeling good/comfortable about a trade is important, after the logic and risk analysis. If I'm feeling disturbed/emotional/uncomfortable etc I'll skip.

 

[Newbie Day-Trader]

Perhaps there are different types of traders as there are individuals. For me, feeling good/comfortable about a trade is important, after the logic and risk analysis. If I'm feeling disturbed/emotional/uncomfortable etc I'll skip.

Of course, there are different types of traders, & of course, feeling good about a trade or a strategy is important but no method & no amount of good feeling can cause a strategy with a negative expectancy to yield profits in the LONG-RUN, which is why understanding expectancy is so important. In fact, there's no better calming-influence as knowing that one is trading a strategy that has shown a positive expectancy over a sufficiently long period of time.

 

[MSN1979]

 

[newtrader101]

Perhaps there are different types of traders as there are individuals. For me, feeling good/comfortable about a trade is important, after the logic and risk analysis. If I'm feeling disturbed/emotional/uncomfortable etc I'll skip.

But greed is my biggest obstacle.

 

[Sunny1]

But greed is my biggest obstacle.

please elaborate on your greed

 

[newtrader101]

please elaborate on your greed

Point taken ☺️