Who's emg ? I have some shares in EMG that's for sure. Showing your PnL is no good to anyone. If you want to show PnL, you go make your own thread. In this thread, we are trying to show OP the light. If you want to really help, put up your trades and show the OP how it's done. This is a trading forum, there's no shame in showing people you are trading.
The first mistake I see by the original poster is that he has no edge. You can't possibly become a successful trader if you don't know what your edge is before you put your capital to work. This is the biggest reason why most fail. Do yourself a favor, stop trading and start doing some hard research, and then develop a business plan. Trading is a business, not a hobby.
I see..., The ole ole deflect…, minimize…, endear...., and of course - crawfish Go figure Minimize or Crawfish (either one works me thinks) Traders get paid for one thing only – our performance We produce one thing only – a PnL No ass to back up your mouth - go figure Endear We??? Just who invited you into Note’s Journal Oh..., and before you step on yourself more…, Yeah...,I was Simply Bullshit Both these statements are beyond idiotic More Deflect This is between you (ej)..., and me Try to remain on track RN
Instead of dog piling - how bout we allow him to sort through this shit - and come up with a path He fully knows he up against the wall RN
Let's get back to helping the OP @note My respect for getting up at 4:30 to trade before your job. First, I believe you should find a better instrument or time frame for trading than EUR/USD. EUR/USD is very tough intraday. Rather start with a cash future, like ES, YM and NQ for daytrading. If you don't have the time to trade intraday, do swing trading, best on the hourly timeframe. You can also swing trade currencies like the EUR/USD if you like. You asked for feedback on your trades: Of course it's easy to say in hindsight, but I'd say your reaction is too slow. You must to make plans before any trade. Look at two things: trend and support/resistance. For your beginning, trade with the trend and use S/R for timing. That's it. 1) The first trade was contrary to the trend, started from a s/r low. The entry was very good. Your SL was beneath the S/R low? That's fine. But you must take your profit!! You see, the EUR/USD ran up to the other S/R (=1,2472). Take your profit there! 2) The second short was far too late to work with a small SL. You see how much the EUR/USD travelled down from the previous S/R at 1,2472? It's likely to get kicked out in a pullback. Either you set your SL at the high of 1,2472 and let the trade run for a day or two, or if you want a small SL you must to get in earlier. The best bet would have been to go short at the S/R of 1,2472 any time of the day, because this was a downtrend day. Good luck and don't give up.
I've spoken at length with at least a couple dozen people at ET over the years. The successful traders in this group had a plan and the ability to follow it. One without the other results in a 90%+ chance of failure. The majority of these people had trade ideas (a lot really good ones, too) but no real plan such as how to enter, where to place a stop loss and how to take profit. Most had never done a statistical analysis. A few had a pretty detailed plan, but it was not well-defined (using terms such as large bar/small bar, extended, choppy, really high, trending, etc. but no specific definitions of these terms) and so they were usually confused in real time. If those with good trade ideas had simply traded every appearance of their setups and implemented a fixed positive R:R using bracket orders, they'd all have been profitable. Instead they had all sorts of reasons for not trading valid setups (price had already gone too far, wanted to protect a profit, clawed their way back to even and called it a day, the price action "felt" weak, the dog needed a walk, mercury in retrograde, and so on). If you're confused, you hesitate on setups, you think price is random, you believe the only way to make money is to have an edge limited to big professionals (inside info, HFT algos, massive capital to average down with), then you haven't studied price action and tested ideas based on patterns that appear every day.
90% fail in trading because those 90% would have failed to reach success in any competitive environment. Period.