Thank you Aviator- I Appreciate the advice.aviator4200 wrote: ↑Thu Jul 02, 2020 4:14 amAaven,aaven wrote: ↑Thu Jul 02, 2020 3:32 am
Let's say, one wants to be aggressive and takes buy trades when blue background and blue candles occur, how does one minimize the whipsaws i.e. getting in and getting out when an opposite candle color/grey color occurs? Does the profit accumulated suffice?i mean though you are trading from one arrow to other arrow- the exit on the 2nd arrow would not be at its maximum movement, do you exit when the 2nd arrow appears or do you trail?
I would like to repeat what "XARD" always says-"Trading is not rocket science". You have to find a comfortable way or style of your own to be profitable on a daily basis. No one can teach or find that for you. You have to develop your own style and be confident about it.
Now coming to your question on "how does one minimize the whipsaws" - That's where money management comes in place. If you are confident in trading from arrow to arrow you got to have proper money management so that in case there is a drawdown you will not blow your account. If you don't have a good money management then I would advise you to just trade in a conservative way and wait for the second arrow to complete it's formation and then trigger your trade. You will still make enough money daily by choosing this route if you trade Indices. Hope that helps!