I am sorry to sound so negative in my post but I do know to cut losers quickly, I do know to stay within current volatility and adjust as well as position size, I do know that I am supposed to let winners run. I can't grasp it, my best strategy breaks even. I know I am close but losing energy, I am still relatively young but I am close to losing my mind.
If you cut losers and let winners run, you're in the 60% of traders that are not so dumb. If you want to be in the 20 or so that wins, perhaps you need an edge...
I know enough to know that edge is money management whether you trade mean reversion or trend following. This much I know.
If price goes my way, I Hold, if price goes my way for another distance I exit. If price goes my way and reverses, I reverse and hold. If price goes against me as soon as I place the order, I exit.
The amount of effort you are exerting is probably a reason why you are not seeing the light. One is supposed to work hard and all that, but taking breaks and having obligations outside trading is key. I strongly encourage giving up trading for a while. Magically, the insights you need will come to you without any effort on your part when you are relaxed.
You have provided no info about your strategy of when to take profits et cetera nor chart examples to explain your exit strategy. Simply, most are going to assume your just venting and have conceded defeat. Mark
That's not a strategy and if that's your exact trading plan you use while trading... There's the problem...it's extremely vague or subjective. Mark
You are right of course and I do take breaks, often though I find myself trading in my head during park walks, I could be obsessed :eek:
Yes this is exactly my strategy, distance can be 20 points or pips and is played as explained. I tested many complex ideas but in the long run they failed, one experienced trader told me to Keep It Simple This is my attempt at K.I.S.S.