@jmutrades Why are you trying to defend the statement he made?
He made a mistake simple, apologize and move forward.
No matter certain people have agendas or what not. This doesn't justify his statement.
@vedictrades@Abhiishek45@vedictrades I have tried a $200 risk thing you are suggesting. But it often takes SL from a good trades as well. I think a $300-$400 risk per trade works better. Now I prefer ATR based stops which worked for me.
@TraderYush Took a screenshot for my journaling.
Reason : PD POC + low volume nodes and Current session POC + low volume nodes getting rejected after extended rally. Target 61.8 of recent low thats where it bounced off + High nodes of volume area. I have sold around 0.50.
@jfsrev Thank you. Is there anything else that prevented you from entering?
It has bounced off from 786 and reclaimed 618 and .50 Fib today as per my high low marks on fib. The reason to enter for me was purely based on breakout with fib reclaiming.
@jfsrev@junkie_defi Thank you for sharing. 100% agree. I have identified the same mistakes and learned from it. Now I am restricting my trades based on LoD distance and Rvol on ORB. Is there any better way to enter than this?
@jfsrev I agree. But I took the trade only because it was showing entries on my other system. I am still struggling with entry. I am prepared with the QS and a few more from Contraction Screener for better entry now.