trading breakouts

[pt9091]

Hi Hoping someone or some peolpe can answer this would be greatky appreciated.

When trading a breakout (start with a drifter) when is the best time to get involved or whats the best stratgey/indicators etc as I get muddled with the different amount of outcomes:

Ive noticed that when a horse is drifting and its hitting its upper level and all of sudden it breakouts out, at times it will just keep going and going and going and level off at some point and come back in a tick or two, usually I miss this opportunity, then other times I get invlolved and the price breaks and comes back down and tests the breakout level and I am in a losing situation and cancel the trade only to see it start drifting like a barge again and again I am kicking myself, other times it breaks out and comes back in to the breakout level then starts steaming like a barge amd I am kicking myself for missing it, I have tried to categorise this behavour to different types of races, courses and differnent days of the week money flow etc and cant get a grip on it, but I know traders are doing the right thing as I watch the money lumping on,so there must be more to it that I cant see at this moment and always just miss the opportinity or come out with a small loss?

if anyone can give me some tips on getting this more in my favour I and I am sure others would be very grateful!

[Squirtle]

I tend to watch a race as it trades sideways with low volatilty. I watch the volume chart for a spike and then jump on that, whichever direction it is in.

[pt9091]

Thanks very much squirtle, I will watch out for that happening today!

[misimiki]

I have had the same problem so I adjusted my style. Instead of trying to make several trades in a market I wanted to make only one or two. This meant I spent more time following the charts and trends and made mental paper trades. This way I found I began to get a small feel of the market without the frustration of money on the line. Simply as an exercise it helped my discipline and concentration by removing the emotional element.

michael

[Point2Point]

Watching the charts for a while before you attempt a trade is a good way to get to grips with the market before it really gets going. Very often you will see it trade in a certain manner before it suddenly takes off in one direction or another.

Following the weight of money can often give you a clue that the price is about to turn.

[pt9091]

Many Thanks guys, seem to be alot better at this, progress being made! and much appreciated your answers! be good to get this forum a tad more lively!