It seems however some things are only to be learned by the stern hand of hard experiences ... I do believe it's possible to daytrade using the 30M charts ... I however am at the same time convinced it can't be done by me as a person ... or by many others for that matter ... you need an almost robotic stamina and personality
The idea is letting trades more run; this should help me provide me with more profits. Letting trades run is just not possible in daytrading ... I have no idea whatsoever what would be my long:short ratio and at this point I couldn't care less. I have closed this chapter and like to think I have learned some things that I can use into a better way in my future swingtrading ... Like I said: it's obvious now daytrading is nothing for me ...
nope, I managed to fuck things up overall ... it just was one big rollercoaster ride with way too much emotions and my account followed the rollercoaster ... like I said three times allready it's nothing for me ... I probably wouldn't be saying that if everything was peaches ... like I said I think it can be done, but it will be hard to find a person that can actually do it consistantly ... the only good thing looking backwards is that I didn't put a lot of money into this account ...
Okay. So how do you plan to go from unprofitable to profitable? Something has to carry you between those two states. I can tell you this, you either know what you are doing or you don't. Admitting that you don't know, is the first step.
well, my main problem probably wasn't not about not knowing what I was doing ... it was me more sabotaging myself in the realtime process of mostly seeing things right caused by my emotions ... it was quite easy analysing a market in the evening and knowing how to play it than doing the actual thing live ...
There is a disconnect here. If you were looking at the market correctly, you would be profitable. How do you 'analyse' the market?
the disconnect is because of emotions taking over (I hope I don't have to repeat that anymore ...) There really is no point in discussing this any further ... while I was daytrading (and I did get some ideas from that) I was working also in the sidelines at more a more swingtrading orientated approach and that is what I am going to do from now on ...
A stop loss at 1.1516 seems reasonable, since it’s arguable that a drop below this level might be a pretty good indication that the rate is not really headed higher. As for where to take profit, that will be dictated by price action.