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I am setting this up with tough stops and large percentages. I am going to start considering any candle body that enters the red territory to be Massive Fail. While others may be using the stop as a crutch (in their head telling themselves, it's ok if we dip into the red a little bit). Meanwhile, I will consider anywhere chilling around that line into the red... my death. If I am not going the other direction and gaining distance than I did something wrong.
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Here is a pic to further illustrate. You see where the support was broken and a 3/1 short call would of been made and liquidated? And where I will call. The difference.
It can be argued that many smaller trades are better and I completely agree with that. This is generally something that is done without charting on the 1Min charts. And what I am also doing. Only Longing. The largest amount of money to take off the table is always taken.
Memento Mori
Here is a pic to further illustrate. You see where the support was broken and a 3/1 short call would of been made and liquidated? And where I will call. The difference.
It can be argued that many smaller trades are better and I completely agree with that. This is generally something that is done without charting on the 1Min charts. And what I am also doing. Only Longing. The largest amount of money to take off the table is always taken.
Memento Mori
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Actually they should of taken profit on the return, so maybe not the best example. However you see a little further the thinking behind what I am doing.
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Bad visual example will add better one later.
We are hanging on the side of this cliff here.