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Nubrand
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I have been learning candlesticks for some time now and I have a question regarding setups and stops. I have been told that instead of using a fixed amount for a stop, place the initial stop at the point where you are absolutely certain you are wrong. I am not too comfortable with this since this can mean having a fairly wide stop. For example on a bullish englufing pattern, I would enter on the second green bar. By using an initial stop mentioned above, it would be right below the first tall green bar. This is usually a fairly wide stop. How can I adjust my stops to a more conservative way and avoid using wide stop loseses? Thanks!
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I have a similar problem. I get pretty drained mentally by the end of the way. Im planning on trading either the morning session or afternoon session only. Anyone know if either session provides a more profitable opportunity?