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Break Out of Fake Out
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Created: by tderrick Attachments:1

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Break Out of Fake Out

  #11 (permalink)
Membership Revoked
DetroitMIUSA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 193 since Feb 2012
Thanks: 26 given, 58 received


Quoting 
Rules

If you follow the ones you have set for your method you'll be on your way!!

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  #12 (permalink)
Elite Member
SF Bay Area, CA
 
Futures Experience: None
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tderrick View Post
Do we wait for it to break and then wait for the PB that sometimes never returns? Which also lets us
see if it is indeed a BO.

Do we enter at the best possible price after it breaks the channel and place your stop clear
at the bottom of the channel?
The same as above with some type of static stop?

...etc, etc...

I like neither of these options. I like to be in prior to the break out. I have no idea which way the market will break, but I can weigh my options based on a lot of different input and then pick a side. The great thing about trading a range is that your risk is clearly defined.

For a long bias I want to enter a trade toward the bottom half of the range with my stop below the range. Here is an example from today.

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  #13 (permalink)
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Calgary, Canada
 
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Deucalion's Avatar
 
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Same chart.....look at it a bit differently.........How about context and structure...would it be worthwhile to identify structure? the primary trend and force and the less forceful corrective......and then trade. Trade the primary with aggression and size and trade the corective with smaller size.

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  #14 (permalink)
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Ontario, Canada
 
Futures Experience: None
Platform: NT
Broker/Data: IB
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dario1's Avatar
 
Posts: 405 since Jan 2012
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PowerBroker View Post
Here is a pearl of wisdom that was told to me which I will now pass on cuz I am leaving here.

The market is ALWAYS going to be there. LET the BO run away. It's going to be back! AGAIN and AGAIN. Eventually you WILL get it. There WILL always be another set up coming. Just wait for the market to give you what YOU want.

Patience was one of the hardest things for me to learn. Admittedly I am Still working on it!!

Everyday is a chance for a new beginning!

Trade smart OR JUST DON'T TRADE...


I just cannot believe that nobody thanked for this post yet;

--but nothing surprise me these days (even the market hehe)

And patience is one of the hardest things for me to learn too.
D

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  #15 (permalink)
Elite Member
Nashville, Tennessee
 
Futures Experience: Intermediate
Platform: Ninja / Jigsaw / 9G
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dario1 View Post
I just cannot believe that nobody thanked for this post yet;

--but nothing surprise me these days (even the market hehe)

And patience is one of the hardest things for me to learn too.
D


I'll fix that ... just an oversight, I guess. I certainly remember the post


AJ
Nashville, Tennessee


"Life On The Edge of SR"
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