bim1

Unless you understand structure, actions, time, Money Management and relations You would miss the forest, for a tree...........................

Fear of missing out. Impulse. Raw Emotions , as Market Price fluctuate. " Don't make permanent decisions on temporary emotions " Look at the market structure, and the larger picture. Consider your time frame and your risk tolerance. Think of your possible Target Exit and Stop Exit price. Would you consider adding to your position? Would you scale in / Scale out of a trade gradually instead of all at once ? If you are prepared with your plan, you would not be prone to " making permanent decisions on temporary emotions " as markets moves in real time. Good Luck. Glenview Day Traders Community | Facebook

I tried reducing my position size, switching over to my simulated account and using Options rather than naked positions in currency futures. All three allows me to stay on the top of my game & be current with markets. Once I start seeing GREEN, I start with smaller positions and add to it as my strategy & trading plan works. Over the years, I learned that DrawDawns take away one's available resources for NEXT BEST poteintially PROFITABLE Trade. Some time it helps to stay out of market and keep the powder dry.

Thanks, JohnW. I missed opening point, but you still can use a broader view and make use of my comments. Good luck.

I am bad. I did not name my comfort time frame. Even if it is 100 tic bar, and the last bar is at the end of Friday. The Next 100 tic bar opens on Sunday evening, and lots of water must have run thru' the river. Each bar is controlled by its opening price. Each opening price is compared against last closing price. Some people thrive in the opening gap price. One need to study on its own and let all the good thoughts enter the mind as a seed. Good luck.

It is a great / gray discussion ! I consider CLOSE of the bar and Open of the NEXT BAR very vital to put on a new position or manage the existing one. I only look at my Comfort Time Frame. In different market conditions, my Comfort Time Frames are different. Try these criteria on your own, and may be you will find a whole new world! Good Luck. Bimal PS: Happy Valentine's Day, every one. and safe trading.

Good seed of thought for K'NEX master builders. Fractal. bridge ideas to inspire. Incorporate Golden ratio. All the trend line will make sense. Thanks. Ref: BlowFish I wondered if anyone would (bite). If you break an impulse into 2 you get essentially an ABCD type formation An impulse wave now becomes two 'bullish' ABCD's in a row and a correction is a single bearish ABCD. Image attached ,,,marvel at my paint skills I just think that these building blocks are much more flexible (though you might loose some predictive aspects). Attached Thumbnails

Borrowed but well used. "Because man is subject to rhythmical procedure, calculations having to do with his activities can be projected far into the future with a justification and certainty heretofore unattainable" said Ralph Nelson Elliot, the creator of Elliot Wave theory. A combination of Larger & Smaller time frames would help one get the most out of an established trend and a correction.

Using Futures Contracts or Options to hedge the actual portfolio is the name of the game for me. I could start with an Option ( Call or Put ) in the primary stage of a developing trend. Going against the Trend, I try to buy / sell futures, Day Trade and generate cash. Here I have original option as a Hedge! Daily / Weekly profit helps lower the cost of original option. Do I really need a Stop-Loss order in the market? For now, it is working well for me. I can sleep well.

A stop loss could get hit when & if you are not monitoring / fine tuning your open position. In all other situations, you should be in control. A break or make "Uncle" stop is far enough in price & time not to get hit in normal circumstances. A "Stop & Reverse" price/time stop acts as an entry/exit/entry strategy and should be used along with an "Uncle" stop.

A stop loss could get hit when & if you are not monitoring / fine tuning your open position. In all other situations, you should be in control. A break or make "Uncle" stop is far enough in price & time not to get hit in normal circumstances. A "Stop & Reverse" price/time stop acts as an entry/exit/entry strategy and should be used along with an "Uncle" stop.