Three bar plays stopped workingfor me about 3-4 weeks ago. It might be because of other factors though clouding my entries (head). I find it really hard to believe it was all luck since 11/2021. Last week mostly green. Yesterday green with a bunch of hypothetical green trades as well. I'm quite picky and even more so now, thus, wont force a trade if i'm not 100% happy. There were plenty of plays I could have taken today but, they didn't fit my rules 100%. Revenge trading....ME. NEVER! My risk risk remains the same no matter what. But if I'm down 2R....I'm done for the day. I'm thinking of changing that though in the future though. Almost did before I hit a wall a few weeks back. I may change to something like.....down 1R....next trade will be .5R. after 2 red trades i'll be down 1.5R vs 2R. So on third trade, i'll risk .25R. if red again...this is -1.75R vs -3R for the day. So on the contrary, I'll risk LESS and not more (revenge) on subsequent trades. This keeps me trading longer with a chance of recouping. This is based on my previous profitability rate of 75-80% green. I have to wait a few weeks of full risk to recalculate profitability rate then make this change.
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When the trading is going against you, I think it's better to do fewer trades. Don't feel obligated to get back the money and the more trades you make, the higher the chance of you making a mistake.
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