goodoboy replies to: Measuring My Trading

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Hello,

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.

Questions:
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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