How many times have my live room folks heard me say something just like this:
“If you enter before the bar closes, you might occasionally make a tick or so more on your trade. However, once or twice every day, the signal that you thought was going to happen does not and you will lose about eight ticks. That means that you need about eight early entries to work as planned for every one that does not, and that simply won’t happen.”
(from Reading Price Charts Bar by Bar: The Technical Analysis of Price Action for the Serious Trader)
My thoughts exactly!
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on Thursday, June 25th, 2009 at 7:15 am and is filed under Trading.
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I ordered this book, especially since I’ve concluded I need to start “scalping” more in the choppy times. I was developing a technique with EOT chop channels, the EOT indicator and a revved up volume indicator with some success, until I developed a case of intra-bar clairvoyance. David, let the bar finish it’s sentence!