This is an important step to improve my watchlist logic to safeguard against fast moving whipsaws. When you open any random position, it can usually happen where it moves negative for whatever reason. I have struggled with this for many months. As a result, I now log the whipsaws in my fast moving instruments in each asset class I watch. This include forex, crypto, and CFD.
I like to use any potential instrument to cross reference against this list of whipsaws. I also track these whipsaws for about 6-8 hours. It seems this 6-8 parameter may need to be self adjusted depending on current market conditions. You would definitely want 8 hours in a negative moving market.
If any potential instrument is not on this whipsaw list, it would then be added to the watchlist. This is all shown in this short video.
FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!