At this point I see NO advantage trying to differentiate between "good" and "bad" inside bars.
Just load the new indicator on a chart a see all the perfectly good inside bar trades that you would have missed.
Most of the losses that I see on inside bar trades are come from terrible money management and trading during "bad" times of day........I think time would be better spent noting WHEN a trade fails......is it at the index open, on options expiration day, low volume times of day ?????? etc.
Notice the great inside bar trade that Beth missed today because of a supposed "bad" inside bar.
So far.......I'm not buying it..........please SHOW me if you think that I am wrong.
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Cunparis when able would you please point out when did you enter your trade. I had the same trade I think and got stopped out. So just to make sure I would not do the same mstake on my entry. Thank you in advance for your help
I use 8 pips first target and as much as I can on 2nd. with low of the bar stop. I try not to take trades if bar is more then 16 pips long. If longer but I like set up I'll go wih one contract. If market is going my way I would move stop +4 after first is out. If continue to go my way I would move brkevn and then would let it go with moving my stop every 5 min to the low of the 5 min bar if long and high of the bar if short.
Since my goal is to get $160.00 on any trade I would keep moving my stop till get stopped out.
BTW I like to trade at defined levels such as MML, or High, Low of the day etc..
Could u pls just tell me when did u enter your trade at what time. THank you for your help!!!
anyone have an answer to an age old question..... why is it so difficult to scalp and grab 8 or 10 ticks in your trade... but if your wrong and dont have a stop your loses grow beyond belief in a matter of minutes,,,??
I think your Keltner channels are based on RTH data. Even if you want to just trade the RTH, it would be useful to use ETH data for Keltner channels. CL especially is active pre-market during the European session and hence gaps are very common. Currently, on any gap day, the Keltner criterion is likely result in bad IBs.
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