goodoboy replies to: Measuring My Trading



Just making sure I am on the right track. Need your advice or just comments.

My trading style is to : Draw levels daily. Identify trend direction each morning. Trade Breakout and Retracements.

Trade 1:
R1 level trade Breakout retrace Limit Order
Once a bar get above Level and retrace, back to level, go long. Vice versa for short.
The blue arrow is the entry bar

Trade 2:
R2 Level
After a failure to breakout of R2, and starts to retrace. When price starts heading back towards to R2, i enter a buy stop above the most recent high.
The blue arrow is the entry bar

Both these trades were winners.

1. Is this type of trading called price action trading?
2. Would you consider trade 2 very risky? I think of this as a retracement and trading in the direction of current trend.
3. What type of performance metrics in backtest or forward test would qualify as a trading style worth investing in or prove my edge.

What do you think of my trading?

Thank you

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