So wouldnt it be safe to run a trailing stop once a trend is been established, well thats
my tatics atm but I'm green to all this...
What could you share about your system, that would benifit me/us.?
Thanks
SevenFX
As stated earlier I do not trade trends and place stops waiting a large move.
Nothing wrong with that approach but my trading is based on short term scalps
of 4-10 points max. with a 10 point hard stop.I do not always wait for the 10 points to exit a losing trade.
I am firmly of the belief that each trader has to find "their own way".
But I'm happy to explain my approach to trading.
It is critical for me to form an opinion as to the the likely direct of the market intra- day
I do this a number of ways.
1.Look at the overnight action in the US and Europe.
2.Look at the action of the Spi especially into the close of the previous day.
3.Observe the price action in Asia during the day.
4.Aud should be looked at continually.
5.Study a Spi chart looking for supp/res areas.
6.I always look to find optimum areas on the chart to enter a position from intra-day to
a month out.
7.Eventually you get a feel for the likely direction of the market on a given day.
8.Plenty of screen time to observe and learn.
I don't have a system