Day Trading & Forex Forum

barjon

Many aspects of TA and trade entries rely on a break of support or resistance of one sort or another.

Fair enough, but what - for you - constitutes a break? A tick, a point, an x number of points, a percentage, a time above (below), a close above (below), a reaction not re-crossing the line, or what.

Me? I don't have a fixed definition. If there's good momentum I'll mostly enter on a point or two break, if it's staggered through I'll mostly wait for a close and maybe see where any reaction goes on a lower time frame.

good trading

jon

tomorton

Good idea, I bet we've all been sucked into a position that just breached a target level then reversed.

I am trying to improve my daytrading and have picked up this - using candlesticks of your preferred time period, look for first candle to close beyond your target, then enter during period of next candle if it pushes further past target than extreme of the first.

wasp

If I was looking at one on say, a 60m chart, I'd zoom down to 15m/5m for a small pullback to give me more faith in the breakout.

rathcoole_exile

all too often though, i have observed, people give up after one failed attempt at breakout, then miss the big move they had correctly anticipated.
price has to break one way or another eventually, so I keep my stops tight and re-enter, re-enter, re-enter .....
the discipline is the hard part - not giving up, 'cos Sod's Law says that the moment you cease re-entering is the moment price explodes :-)

__________________
how to speak Norn Iron:
http://www.youtube.com/watch?v=zJH3_...eature=related
if u can't accept that only 2 or 3 trades out of 10 will be small winners, & that 2 or 3 will be scratched for even & that 3 or 4, even 5 will be losers, with possibly only 1 in 10 trades being "payday" then u shouldn't even consider trading

my Opinion is never "humble "

karl6666: 'Why doesnt anybody like you R_E is it because you shout?'

new_trader is to trading advice what air france are to aviation

fibonelli

Successful backtest of the prior support/resistance/stops rinsed. Then enter beyond the first breakout price level with a tight stop.

__________________
Audere est Facere

"The trend is your friend and divergences are your best friend until the bend at the end"

Party on like it's 1930, until Mr C (Wave) gatecrashes the party.

senyorqueso

Enter at the b/o level on the retrace to it. Why? Too many right on direction at the breakout, too many wrong, or thinking they're wrong, on the retest.

Splitlink

I prefer to watch the breakout and trade the first pullback.

Splitlink

Any relation to anyone around here? A Catalan, perhaps, or doesn't your keyboard have an "ñ" ?