Dislikedi will have a look at stairsteps breakout. but from what you are saying, it appears you hedge until profit occurs, or its similar to murray maths. both a big no no for me iam afraid.Ignored
Gone to a better place
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Dislikedi will have a look at stairsteps breakout. but from what you are saying, it appears you hedge until profit occurs, or its similar to murray maths. both a big no no for me iam afraid.Ignored
DislikedHere is a breakout setup I would not trade.
1. setting up during Frankfurt
2. Price has already moved a long way
3. The breakout would be straight into the origin of the initial drop, meaning lot's of selling happened there previously
If the breakout fails price could retrace a long way before eventually going higher.
http://i.imgur.com/5yMflvl.pngIgnored
Dislikedi concur. See, you already know how to spot potential false breakoutsIgnored
Dislikedi have my own way of dealing/identifying false breakouts. the purpose of this thread is to find out new ideas/ways of dealing with it , how other people deal with it, to share ideas, and techniques.Ignored
DislikedThere are about 149,000,000 opinions on the net. In Google, anyway. Maybe one of them has the answer? If you go to Forexhard's thread, I think it's called something like "stairsteps break outs", they have a novel way of dealing with it called "anti hedging". Basically it means keep taking a trade either side of your range until one covers all your losses and gives the original profit. You can do this without boxing a range. Just choose a (small) profit target and set a trade. It doesn't matter whether it is long or short. If it wins go to your...Ignored
Dislikedi cant find the anti-hedging stuff in the 'stairsteps breakout' thread. can you point me towards the correct posts numbers ?Ignored