Re: A Little Breakout Here and There
Today I jumped the TP in GBP/USD with an operation that was book: closing above the previous 2 candles, breaking entry, SL below closing, TP 1.5x ATR. It was not lucky. It was applying logic. This system, with clear rules and without emotions, gives results.
Re: A Little Breakout Here and There
Another idea I'm working on is to use Asian ranges as a filter. If the pattern occurs outside of the Asian range, it's more likely to explode. It looks snug, but it makes sense. During London and NY it's when the market really moves.
Re: A Little Breakout Here and There
People, please stop inventing ridiculous names like the blue arrow strategy or the magic triple candle. This is a logical, technical and replicable pattern. It�s not a Hogwarts spell. Let�s take it seriously.
Re: A Little Breakout Here and There
I'm fascinated by how this pattern is so ignored in books, but so effective when it's executed with criteria. I guess the industry doesn't care that people win with simple things. It sells more complicated everything with weird names.
Re: A Little Breakout Here and There
I�m using a dynamic stop trailing as the price moves in favor. I don�t leave it fixed, but adjust it every time the ATR increases. This protects gains and lets the operation breathe. Very useful in volatile pairs like GBP/JPY.
Re: A Little Breakout Here and There
I am designing an exclusive journal for this system, with space to write down the context, the emotion, and the results. It�s amazing how everything changes when you see the numbers and not just what you feel happens. Recommended 100%.
Re: A Little Breakout Here and There
One last thing: stop obsessing about being right all the time. This system doesn�t need you to hit 80%. With 45% of hits and a RR of 1:2 you�re already winning. Learn to lose well and the rest comes alone.