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Right now I am focusing on entries so I am very happy with my results. However, what my comparison showed is I dont have confidence once I am in the trade. When the trade appears to be going against me I panic and exit the trade. What I need to do is keep my hand off the mouse and let the trade play out.
In the future I would like to manage the trade from the stop side or with a larger logical target such as support/resistance, trend lines, etc. This will give me the occasional home runs which would take my trading to the next level.
Playing around with Tradervue. Below is a summary sheet and statistics of last week. Included a view of MAE.
The MAE view is interesting. I take a average of 3 ticks of heat on a winning trade. My take away is my entries are solid and I should continue to doing what I am doing. I currently start out with a 15 tick stop. This could be moved to a 10 tick stop based on the this data. However, to be statistically accurate I need more trade data.
Long night.. Power came back on about 1:30 am. Resetting and checking everything till 2 am. Tired this morning.. Writing this from my iPad @ McDonalds while sipping a large cup of caffenee so I have no idea how my trade turned out.
Weekly chart is up however CL has not cleared the last weeks high. Will be watching closely to see if it re-tests last weeks highs. The 15 minute and hourly chart are in agreement this morning via the trend line and support: A break below 9318 would be a entry point to go lower. A break above 9346 would be a entry to go higher. Currently in middle of this range.