The other point I'd make is that, by cutting my losing positions very fast (quite often on the day of entry), you get accustomed to seeing very few losses on your screen, and those that are there are considerably smaller than the profitable trades that you are holding. All this reinforces your belief and confidence in the system from a psychological point of view.
The first chart is of US stock Supervalu, which I entered at the end of last month. This has given more than one valid entry signal during this overall price move - one trader I know who uses the system opened a position on the entry signal given in late January - nice! I'm currently showing a near 5R profit on this position.
The last chart is that of US shipping stock Excel Maritime Carriers, in which I opened my position in early March. This has been a bit more volatile, but is again in a defined uptrend, and we wait to see how this develops.
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