Same Trades

brewski1984

Senior member
2,073 356
How many times would you take the same trade at the same level?

For example, DOW reaches the 14000 level and you go short and close your trade at a profit. How many more times would you go short at 14000 in your relative time scale and/or if your specific set up appeared? If you were trading a 5 minute timeframe would you take the same trade 3 or 4 times in a day? If it keeps retesting 14000 surely it's likely to break through at one point?

Sorry this is in the wrong place, it wont let me create a topic in General Trading Chat.
 

wackypete2

Legendary member
10,229 2,055
How many times would you take the same trade at the same level?

For example, DOW reaches the 14000 level and you go short and close your trade at a profit. How many more times would you go short at 14000 in your relative time scale and/or if your specific set up appeared? If you were trading a 5 minute timeframe would you take the same trade 3 or 4 times in a day? If it keeps retesting 14000 surely it's likely to break through at one point?

Sorry this is in the wrong place, it wont let me create a topic in General Trading Chat.

I rarely take more than 3. IMO the more often a level is hit the more likely it will break. Also, in the event I can get 3 consecutive profitable trades early on then I just pack it up for the day. Why risk turning a good day into a mediocre or bad one? Discipline!

Peter
 

brewski1984

Senior member
2,073 356
It's been my experience that the more times a level is hit the more likely it is to break and that's the way I always play it however I remember reading somewhere that somebody thought it was the opposite. I never feel as comfortable taking the same levels after the first time.
 
 
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