I've noticed that the first trade which I took off M5 and exited on M5 was a mistake. Reason being, whenever I target a fifth wave on M5 I usually would manage it on m1. I dont remember why I did it this way, but this way is not bad either. However M1 entry and exit would have been slightly earlier and earlier respectively.
Hello, erik here and thanks for your chart! I have few questions regarding setup to enter new trade. I am struggling making profit so I wonder: 1) When the aligator is sleeping and you break a fractal, would not be this fractal, often, inside the aligator so not a valid one? 2) When aligator is sleeping, trend can easily go either ways, so would you not get your SL reached often before getting a trade following the market? Specially has wave 4 can last longer than the other waves 3) Would you not have a safer entry (but later one) like a new break of aims outside the alligator? Thanks
3 comments:
I've noticed that the first trade which I took off M5 and exited on M5 was a mistake. Reason being, whenever I target a fifth wave on M5 I usually would manage it on m1. I dont remember why I did it this way, but this way is not bad either. However M1 entry and exit would have been slightly earlier and earlier respectively.
Hello, erik here and thanks for your chart!
I have few questions regarding setup to enter new trade.
I am struggling making profit so I wonder:
1) When the aligator is sleeping and you break a fractal, would not be this fractal, often, inside the aligator so not a valid one?
2) When aligator is sleeping, trend can easily go either ways, so would you not get your SL reached often before getting a trade following the market? Specially has wave 4 can last longer than the other waves
3) Would you not have a safer entry (but later one) like a new break of aims outside the alligator?
Thanks
Erik
Imran, I can tell what it is... and what it is not...
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