Hi Alex, after a terrible 2021 and an even worse 2022, I am still struggling with my stop losses. I used ATR but these momentum stocks are wild and ending up losing too much. Using LOD- i have a question similar to Jules because i didnt understand your reply. The market opens at 9:30 (4:30pm my time) and there is an instant breakout, my alert is on and I take the trade 30mins into the market hour. There is no LOD. Do I look at the previous day? Thanks
Mhh just to understand completely, if you take the trade after 30min then there is a low no? If the stock open below the entry pivot and then breakout after the open, it's sure that you get a LOD. If we open above it, then it's another story
Sure you can adjust the system like you want! In hard market I am adjusting it too. Taking more profits on that first sell or even selling all at the 10dma and not waiting for the 21dma. Being able to adjust to market condition is super important ✌️
Hey Alex, for when you place your SL at the low of the day after entering a trade, what do you mean by low of the day? You wait the day to be over then you place your SL at the low of that entering day, right?
I place on the low of the day I place the trade. If the trade squat and take out immediately this LOD, I will exit the trade and might re-enter if trig the alert again. But it's very often the LOD at the moment I place it. I like tight tight stops but open to retry the trade
Unser the Initial StopLoss section you mention placing the SL on LOD. Is that of the day of the DTL break or the low of prior day? I am asking as I imagine the day of DTL can give some very tight stops? Appreciate your time and help😊😊🙏🏻🙏🏻
can i ask how do you position your trades when you mention you don't layer in. e.g. does that mean 100% of your portfolio in a trade? or do you keep it a position at X% of your portfolio?
Hi Alex, after a terrible 2021 and an even worse 2022, I am still struggling with my stop losses. I used ATR but these momentum stocks are wild and ending up losing too much. Using LOD- i have a question similar to Jules because i didnt understand your reply. The market opens at 9:30 (4:30pm my time) and there is an instant breakout, my alert is on and I take the trade 30mins into the market hour. There is no LOD. Do I look at the previous day? Thanks
Mhh just to understand completely, if you take the trade after 30min then there is a low no? If the stock open below the entry pivot and then breakout after the open, it's sure that you get a LOD. If we open above it, then it's another story
ok, understood- many thanks. Even a 30min low is indeed a low.
yeah exactly! it don't need to be a "tail" could be the low of the body
I love this page. I wish I picked up your site sooner... Thanks for this
Never too late ! :) Glad you like the content, enjoy and happy new year!
what is FL?
A FocusList
Make sure to check that article out to navigate the terms :) cheers!
https://open.substack.com/pub/primetrading/p/trading-termsconcepts-beginner-guide?r=mst4k&utm_campaign=post&utm_medium=web
Hello, I have a question regarding the sale of the position
In a very difficult environment
Can we sell 1/2 at a certain profit and the rest when closing less than 5 ema
Were you using the average of 10 and 21 ema for the year 2021 to sell the remaining quantity
Sure you can adjust the system like you want! In hard market I am adjusting it too. Taking more profits on that first sell or even selling all at the 10dma and not waiting for the 21dma. Being able to adjust to market condition is super important ✌️
Hey Alex, for when you place your SL at the low of the day after entering a trade, what do you mean by low of the day? You wait the day to be over then you place your SL at the low of that entering day, right?
I place on the low of the day I place the trade. If the trade squat and take out immediately this LOD, I will exit the trade and might re-enter if trig the alert again. But it's very often the LOD at the moment I place it. I like tight tight stops but open to retry the trade
much appreciated info
Glad you liked Victor! Cheers
Simple and easy
Hi Alex,
Unser the Initial StopLoss section you mention placing the SL on LOD. Is that of the day of the DTL break or the low of prior day? I am asking as I imagine the day of DTL can give some very tight stops? Appreciate your time and help😊😊🙏🏻🙏🏻
great insights!
can i ask how do you position your trades when you mention you don't layer in. e.g. does that mean 100% of your portfolio in a trade? or do you keep it a position at X% of your portfolio?