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Forex Discussions
Trading Systems and Strategies
Price Action Swing Trading - The PAST Strategy
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[QUOTE="Nigel Price, post: 81293, member: 25485"] Just concentrate at least as much, if not more, of your attention on keeping your losers small, and winners big, rather than the candles and trendlines. The candles and trendlines are there to [B]help[/B] you keep your losers small and winners big - if you know what I mean! I find that most people I talk to have average losing trade sizes that are waaay too big relative to their average winners. That puts them under pressure to get more of their trades to be profitable. That isn't surprising, because there is broker data available that backs it up - I can't remember exactly, but I think the average for retail traders is something like an average losing trade size is almost twice the size of the average winner. If you check my stats from March above, my strike rate was only 13% for the month. I was wrong 83% of the time. When you make sure that your losers are really small, it takes soooo much pressure off you to get trades correct. If I were you geeno, I'd take a moment this weekend to calculate your average winner size, average loser size and strike rate - just out of interest. I bet there is a way that we could tweak them a little bit to get you profitable. (of course that's only if you aren't doing well already!) Ha, since very publicly announcing that Ireland would "tank" Wales in one of my video reports (they lost) I have promised to do no more sporting commentary, and certainly no predictions! So Rory languishing where he is now has nothing to do with me! Although it is teed up lovely now for a massive comeback from someone in the field - I don't think that Spieth can keep up that pace he has played the first two rounds with. Will be very interesting to see how he copes with a few bogeys in a row if they come along, coupled with someone coming storming through the field. But his first two rounds have been astonishingly good. I don't really play golf at all, but I do love watching a major! [/QUOTE]
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