Hi Everybody,
Every once in a while, along comes a tricky question on what to do when you are in a good and profitable trades and an “opposing” signal comes in. Normally, I look to the larger degree (15min) trend and then go with that. But ever so rarely we get a situation like we had on Friday, when the larger degree trend was not clear, and we were long off a TS4 buy setup at 14:27EST, but at 15:27EST along comes a sell setup. Now, this sell was “valid” as the STF was black, but the question is whether you want to “stop and reverse” a good strong opposing position ?
As I say, normally I would look to the 15min trend for the answer, but in a case like this when there is no clear “larger degree” trend, I would suggest sticking with your original; position, especially as you were in Profit ant is was going well.
The result was to hold this long into the close (as the STF was strong) for a nice +3.9R Profit.
But trading is like this, just sometimes we do get a situation, when the decision is no clear and we just have to d the best we can at the time.
Thanks, Steve
Every once in a while, along comes a tricky question on what to do when you are in a good and profitable trades and an “opposing” signal comes in. Normally, I look to the larger degree (15min) trend and then go with that. But ever so rarely we get a situation like we had on Friday, when the larger degree trend was not clear, and we were long off a TS4 buy setup at 14:27EST, but at 15:27EST along comes a sell setup. Now, this sell was “valid” as the STF was black, but the question is whether you want to “stop and reverse” a good strong opposing position ?
As I say, normally I would look to the 15min trend for the answer, but in a case like this when there is no clear “larger degree” trend, I would suggest sticking with your original; position, especially as you were in Profit ant is was going well.
The result was to hold this long into the close (as the STF was strong) for a nice +3.9R Profit.
But trading is like this, just sometimes we do get a situation, when the decision is no clear and we just have to d the best we can at the time.
Thanks, Steve
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