I've been looking at all my entries and pendings and it appears that I have this wonderful ability to buy tops and sell bottoms, hah. Just a few pips off most time. Fortunately I've been able to get in and get out quick most of the time to get small pips. But I'm thinking my entries could definitely be improved. As it stands, the way I'm currently trading I'm minimizing the possibility of a homerun and maximizing the possibility of a bunt. Not even a clean base hit! ;p
While I don't want to focus on the homeruns I should be trading in a way that at least increases their probability. Or even just increase the probability of doubles or a single base hit. Which means I'll have to get in the trend sooner. If I can get in at around 50% of the move that would increase the probabilities by huge margin. Hell, even getting in at 75% of the move would be better than what I'm doing now which is getting in at 97% of the move! hah.
But how to do that with reliable entries? Hmmmm. I keep coming back to the idea of those small consolidation breakouts. It's usually several of those breaking out in the same direction that constitutes a strong trend to me. And on the next breakout, I enter on the continuation after the retrace. Looking at my charts it appears that by this time the trend is at a short term end and begins to reverse. So perhaps I should get in one of those earlier breakouts. I'm hesitant to do that because it seems that I often get faked out and take a loss. But perhaps the larger gains will offset those small losses. Or I could just fade the moves, hah. But nah, I'll stay away from fades for now. Maybe add that to the 'ol rep-a-twah after I've become better with pro-trend moves.
Again, I ponder.
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