Okay getting head sorted maybe. Getting too range biased which leads to bigger SL size, which gets me emotional and screwyuppy, when wrong, small loss, when right bigger profit simple. Setup..... Envelope 7sma 0.02, enter with direction towards outer. Envelope 7sma 0.06 sl point. Envelope 14sma 0.01 direction to trade with. Stop trading chop, take small losses, job done, repeat!
No Trades, different day, same shit..... Today, was an easy, slow direction day, 13sma calling it. So still tweaking. Envelope 13sma 0.01 and 0.05 and a 6sma 0.02 Need to work on my likely to change trend or logic I guess. NQ Just, long down move, entries with, then looked to turn up, but 13 range capped then double bottom and back up again, bloody hard to call. Need to get more, it's travelling slowing in X direction and join, so much easier when it was nutso last week.
I've went back to being lazy and trying to make 50+ pts or whatever per trade again, rather than going, +5 hmmm looks topped, exit. Digging in, being emotional, profits look too small so holding for more, averaging in ( training account size and proving that's flawed ) if I get more than 1 entry then I'm likely counter trend and doomed!! Around in circles we go, massively profitable for a day then back to shit
Stick with what you know! It seems you are good at softs/grains etc? F the Equities! I'm'a bout ready to bail on this equity shit.
Remembering how I made that money last week and kept losses small!!! ( OLD AGE !!! ) Direction, jumping on direction, I went from playing direction with a tight SL to playing a range which = certain death as by that time odds way to high. Yes been there done this many a time before, but maybe 1 day it'll stick. Bought myself an old Classic 2001 Saab 93 2.0i Petrol Turbo, High mileage fully services, new clutch, good tyres, good body work, insanely FAST, don't ask about MPG LOL for £550, saw it, thought that's pretty, then spotted for Sale Sign. Front Left Shock just died less than 100miles, JINXED LOL
Setup/Plan ( I just looked up my cars MPG, nearly 1/2 my 1.3 Diesels LOL, need to making $$$'s, effortless motoring compared to HARD damn work ) Envelope 13sma 0.02 looks to be direction to trade with and enter near Envelope 6sma 0.03 is my proven edge I need to exploit, if 13 upward then enter low 6 area. SL at Envelope 6sma 0.06 and will track automatically, but not plotting Envelope on the chart as it'll just make me take stupid markets changed direction already trades, then have a run of losers. And I need to get over the switch on MUST Trade, need to wait for the right conditions, ie existing direction join it, ride it. Rather than being counter Trend and if I don't take 6pts profit pretty damn quick then I'm going to get SL'd, after moving a few times and averaging in and the hope that it turns before the SL, BAD BAD Plan. Head getting back in the game!! SAAB MAN again finally