Okay, why do I go from a can barely lose making 20% on the account, to a break even trader, that's the elephant in the room. Think the factors are......... 1. Patience, I get greedy and started pushing too hard and rushing trades. 2. Over complicated method, trying to time inner trades which aren't quite reliable enough. 3. Inability to take trend trades, to many counter trend reversals, think this is where I fell apart again. 4. Trading, when market is just NUTS wait for a clear direction to exploit. 5. Not holding long enough to capitalise on. How to improve?????????????????????????????????????????????? Well current method, range, speed and 60/24 rule for direction is good, so guess got to stick to that, in the not perfect but better than nothing. I like the 2 position trades and bigger SL, not 20 though, too much, thinking 13 so 10+spread on GA pretty much, so there a keeper. Holding longer is a function of understanding the longer trend and not trading counter trend, hopefully get that sorted here. Nearly at a level to get back in, not today, head was killing me damn cold bug again, likely not tomorrow, not trading well, feeling stressed while trading = STOP!! Why is trading so damn hard!!
Reduce work load, reducing Pairs to EurAud and GbpAud, dax still around just incase. Stay away from USD spikeyness, all EUR and Gbp pairs trade the same anyway, these have the most pip movement although higher costs. Confidence is growing, seeing my entries, brain is working slightly atleast, might remove the hold today, we shall see.
Right, break it down to as simple as possible. 1. Spot trend or lack therefore of, 15min check rotation. 2. Place Alarms at where i would like to enter. 3. Stop looking at screen going mad, getting bored, tsking none system trades. 4. When alarm sounds watch, make judgement call. It was 9:30 news maybe, GA hit alarm, by the time I had nearly clicked the buy button, 3 clicks with clearing alarm, it was too late, up 8pips already. This could be the case to often, if so also set limit 13sl that way i can get in on spikes. Most range tests reverse fast, giving you no time to get in and the ones that don't generally follow through, never easy.
"Why is trading so damn hard!!" If it were easy, everyone would do it. It's a tough, tough game though. One suggestion for you, well 2 actually. 1 Concentrate one just ONE instrument, get so good that you know it inside out. 2 Analyse what works and what doesn't by recording lots of trade data - time of entry, duration of trade, trend/countertrend etc etc. Hopefully your analysis will help you be more selective in your trades. Also do a weekly analysis of all your trades as this will again show what works & what doesn't. (Hint - do more of the former & less of the latter). Hope this is of some help.
Making money hey, its fun, thanks! It's my cycle, take a break, watch, build confidence, trade well like really well, take a slap, over think it, lose confidence, miss time trades, take losses, go on hold and repeat. Add in over complicate method then strip back to bear essentials I guess. Upon realising its the cycle not the method, how to break out of the cycle, guess being aware of the cycle finally and doh! Is a start, 10 year cycle so might take a while. Take a slap, back to trade well and repeat not the entire thing. No trades today, head is killing me, no focus or drive, break down most likely, 3 day weekend to sortvhead out, might trade Monday. -$204 on the week, nothing really, atleast the days of taking a 30% loss in 1 bad trade is well past friday feck it lets go ride a bike lol
Sorry mate, did I just now talked to you personnally about any psy stuff? Sorry if you do check my thread.
with something like "I wasnt me", I am now actually tempted to explain to you the benefits of a good psy. hmmm : is someone afraid of the power of the www.dhamma.org ? I mean this is something even used for hardened prisoners to reform them, so one can imagine the dramatic improvements for normal folks.
Snoooooozeeeeeeeeeeeee! I'm already a pretty perfect version of myself, i can find no one better to compare myself to.