222: 8 Years Studying Larry Williams… But He Loves This Trading Book More…
Trading Nut | Trader Interviews - Forex, Futures, Stocks (Robots & More)
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How to Get Out of Breakout Trades
Stop and reverse strategies have a 35% win rate on some of the breakout strategies. The only way to get out of that trade is either a stop loss, or typically it's going to be if the price breaks below the low of the last 20 bars. So as you're taking the profit, okay, so you're not necessarily losing, but you're getting opposite signal, and you're getting out. I don't actually deal, I don't really obsess too much on things like risk and reward, because I'm not, I don’t often use profit targets.
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