My Anchor Bar told me not to go long. First Entry common stopped out. Second Entry is Hell. I got 2 ticks slippage and the price teased my Stop Losses. So, when it -5cents I got out, planned to short again at 102.29. And Price just blast through my order, Damn!!!
Holding my -15cents cause of operation error really make me unease. Then price stalled again, added another 3 Stop Losses of Chopped. I am -45 ticks, only 5 ticks to called it the day. Lucky I took my last trade which move my favor pretty fast. It stalled for a while around 101.20, I trailed my Stop to 50 ticks. Still minus if stopped. Then I waited and waited. Raised my Stop Order to +50 ticks when price made one ticks faked at the low. And it only one tick away to stopped me out and price dived down again. Got out at my 100ticks Profit Taking and call it a day.
If I didn't screw the second trade, I may made $700-$900 today. But it's part of trading. The thing I only hope is I am not messing too much.
The Anchor Bar worked very well today. Still getting lot of chops even after I raised my ticks. But if I used faster ticks, I'll end the day with ugly losses again. Worse, without my Anchor Bar, I might have double my early losses. So thanks to the slower ticks chart and Anchor Bar. The Renko Bar pertty useless for filter today. I should worked out more on my choppy filter.
Yes, the tick chart...I dont understand/never learn Renko :-) how about your range chart ?
ReplyDeleteTST,
ReplyDeleteRange Chart almost the same with renko. I only look range at short period of time. and it's more useless than renko IMO