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Looking at the big picture and focusing on smaller time frames we
may see some high probabilities for a future move and its direction.
Unfortunately...
...we do not know by WHEN.
With that knowledge and being alerted - our very next trade may
go to the other direction than expected!
For this I use my signals of the the beginning of a session to decide
to take the very next trade even if we see the big pictures elements.
Our final results are only a result of taking a trade and an exit + SL
included. As long as we do not want to trade overnight - the
day trade(s) result are the only one that count(s).
Even if other traders do not share the same opinion - the setup to take
a trade on some significant past movements on a weekday to decide when
to enter and when to go flat means a high probabilty to make some bucks.
That is - in my opinion - all it needs to
a) Get some extra dollars / euros / roubles
b) To stay alive in the market
c) To be enough motivated to take the very next trade
GFIs1
PS: I am a longtime follower of FT71 and I am very happy about his
indepth comments / explanations about trading - live and in webinars.
Although I see his points - I am still a fan of past movements gives us
the whole story of setting SL and of entry and exit times to survive in
a foggy market.
The following user says Thank You to GFIs1 for this post:
... I left some nice money on the table. BUT
to stop a wrong trade with a little loss instead
of seeing the stoploss being hit is the best I
can take out of yesterday.
Nothing to worry about though.
As there is one trade per day only I have
to look forward to TODAY's trade.
