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Re: My Entry vs My Stop vs My Exit
Nice one Walter. I use two approaches in trading. I am mainly a anticipated trader because I rely heavily on key price levels that I identify. So my order goes in as soon as tape tells me to. To me I consider this an aggressive approach.
On the other hand, I am a confirmation trader when I use a countertrend trading strategy. I like to play safe instead of trying to catch a falling knife. Thus, I wait for additional confirmation like higher lows or new TICK high's. This is a more conservative approach.
In my trading, entry is everything to me. I scale out on all my positions: half positions at either +10 or +20 (depending on tape). Exiting is the easier part of my trading because I usually exit at pivots or known S&R levels. The only drawback behind my style is... I'm a Ichiro. I can hit singles and doubles across the board, but its rare when Im in a homerun trade.
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James Lee
TradersLaboratory.com
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