Screen time will do wonders for confidence. I'm an added believer that scaling out of a trade shows a total lack of confidence in the trade where as scaling into or adding to a position shows more confidence in the strength and direction of the trade. "Adding to the winners" comes with experience and shouldn't be something you work toward very soon. I know traders that still prefer not to and have successfully traded this for years. Don't confuse Money Management with Risk Management.
I had only one 2401 perfect trade set up this morning around 9:54 . . . well sort of . . . The 343 had already "run away" by the time the 2401 histo started bottoming/oscillating . . .
The Convergence in the 343 was a heads up that the 2401 Trade Area was valid. Wasn't a lot in it though, couple points. Remember what I said about patience? Some days will give you many great trades on a single chart. Some days you might have to look to a few markets to get those same perfect trades. It's not even lunch either. We might see one this afternoon. This is a perfect reason to watch a couple martkets if you want to be done by noon each day. Euro FX just creat a pretty short about 20 mintes ago and March Soybeans created a nice short on open. DO NOT PUSH TRADES . . . allow them to play out naturally and simply wait on the great set-ups.
Prof, i saw the soybean ppf at 900.00 but the Histogram was far from prime..and then it ran away..too late for me..altough the erg in the entry was major prime.. it was deer in the headlights for me. Would you elaborate? when you have time?
Takes time to learn to trust what you see. That trade was worth about $.04 but consistency is the key. In the last week there has been almost $.50 in Soybeans and that is more than some traders get in a month. Patience patience patience & screen time, screen time and then more screen time. This will create confidence.
True about the 343 convergence, like you said . . . screen time will create the confidence to act in a timely manner . . .
It used to a long time ago but I don't know of anyone anymore that still has it. A friend had a copy but his computer toasted a few months ago before I could get it off there. Sorry.