Newbie here looking to learn a strategy

Discussion in 'Index Futures' started by Calinorth, Jun 22, 2020.

  1. graz

    graz

    Exactly. I've been trading for 3 years and STILL, the most difficult thing for me is training my mind, training my emotion and developing patience. Controlling emotions or programming my mind to react a certain way is still VERY difficult. I guess in time, it gets better. Things I'm still working on:

    -Let a winning trade go and not chicken out at the sight of a (seemingly substantial) red candle or even a green topping tail/spike down.
    -Don't stop out too early or set tight stops.
    -Don't let a losing trade go down too far (occasionally, I get very frustrated/spiteful and average down as the stock is sinking, thinking it will come back) Things I need to work on.

    After looking at charts day after day for months and years, you begin to understand price action. Not only how candles form, but how fast/slow. Each instrument has different price action. After a while you learn specific aspects of specific stocks in terms of price action.
     
    Last edited: Jun 27, 2020
    #21     Jun 27, 2020
  2. easymon1

    easymon1

    #22     Jun 27, 2020
  3. graz

    graz

    Last edited: Jun 27, 2020
    #23     Jun 27, 2020
  4. easymon1

    easymon1

    maybe invest some time in reading that trading plan thread, there are some very wise posts in there, none of them mine, lol. just sayin'. it'll save you some wrinkles, maybe.
     
    #24     Jun 27, 2020
  5. Learn price action strategy from a mentor or you can watch some useful videos on it from youtube.
     
    #25     Jul 9, 2020