Disliked{quote} What were the factors/conditions you used/saw to make this decision?Ignored
As you can see from my chart posted, price broke the 15 Minute opening range of the London Open 3 times before finally moving up. A rather rare event (trending day). However most days are not like that and so without setting a limit on the amount of orders i will place, i then get stopped out to death, making these 1-2 trending days a month not paying for all the losses.
I also tried to apply some filters. So instead of placing orders every day like a monkey, i would then only enter if price is above a moving average or similar (to go with the "trend"). In sum i then still end up net unprofitable because you not only filter out a few losing days but also the important winners.
Btw, i got stopped out of my little trade. Now Rick it's your moment to write "I TOLD YOU SO!!!" Obviously consolidating now. Always easy to see after the fact could have same as good dropped like a rock (my "opinion").
Update: Here is an example of a more typical day on GU.