Friday, April 22, 2016

Stops and Take Profits; A Fresh Approach


Anyone who spends any time with me trading, or simply talking to me about trading knows I am a support and resistance addict.  I use it daily, with every trade.  My approach to trading ANYTHING relies on the information given through S/R.  And; when people ask me about stops and take profits .yup .I say Put them around support and resistance. But what if I had to do it differently?  What if my trading REQUIRED me to choose mechanical, calculated values instead?  How the heck would I do it?  Could this S/R junkie really come up with a way that made sense?  I find challenges teach us more than easy street and going with what you know much of the time, and I spent some time thinking about it.  OK, so if I HAD to choose a method(s) to place my stops and t/p s not based on my favorite method here s how I would: Before I get to the actual nuts and bolts of the method I would employ, let me talk about the theory behind it first.  The name of the game here is Daily Range.  What is d
https://www.indicatorwarehouse.com/stops-and-take-profits-a-fresh-approach/

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