Is the trend really your friend?
This is a short take. I'm showing a 30 min ATR trend line.
Loads of traders know that 'the trend is their friend', but do they truly exploit it? I don't think so.
There were three main opportunities to exploit this trend. The problem is - now you see it but when it's developing you can't. But at each of two points where price hit the 30 min ATR line, it was worth a short, with a very tight stop loss.
Trend following is a very difficult strategy, but rewards can well exceed other methods of trading. It makes sense to explore it, and develop the skill (safely on paper trading accounts).
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Loads of traders know that 'the trend is their friend', but do they truly exploit it? I don't think so.
There were three main opportunities to exploit this trend. The problem is - now you see it but when it's developing you can't. But at each of two points where price hit the 30 min ATR line, it was worth a short, with a very tight stop loss.
Trend following is a very difficult strategy, but rewards can well exceed other methods of trading. It makes sense to explore it, and develop the skill (safely on paper trading accounts).
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions and not intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which has a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
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