Twice in today’s session, my STE at BE strategy cost me profits, but I know that overall this strategy saves me money. Better still, it means that I can forget about trades once I have opened them and that leaves mental capacity for looking for the next trade – or deciding whether I would re-enter the trade if stopped at BE.

What are the options of lessening the negative impact of strategy while maintaining the positives?

  • Better entries: the closer the entry is the level, the less the chance of a stop out on a retest.
  • Keep 1-2 pips breathing space if the entry is exactly at the level. This would increase risk from 0R to 0.3R
  • Accept the stats and build the skills to re-enter the market if a level is retested – the downside is that I pay the spread twice.

Stats

[table “34” not found /]
I definitely did not want to be out of this trade – a higher low above the TL was nice, confirming PA and not time to exit. If the entry had been sharper, a 2pt SL after 1:1 would have worked.
This is the same trade as above, shwoing more of the PA context

The better my entries, the better the chance of this working. It would also be possible to give it 3pips – in certain circumstances, but this will lead to wooly and inconsistent decision making.

There was at least a minute in which I could have got a better entry here; I must ahve seen the red and jumped in, but the next bar gave a much better entry, which wouldn’t have been stopped on the retest of the level. It would have made sense to leave the stop on this trade above the leve.
Comments are closed.