@Raheel_Shaikh You’ve said that right. Trading without a journal, without a plan, a risk management strategy or analysis is nothing but another form of gambling. I never dare to go against my trading plan, not even in a fit of excitement after continuous winning streaks.
Automation wise, I have stopped 6 of 8 scalping systems cause very low average per trade got under $4 per trade, one might say keep going as you making something at end of the week, but seldom do most traders take in the risk of $100 to make $4 Yesterday, morning session was 30 trades to net 10.75 points, risking 2-5pts, had whooping 3 losers for minus 11pts, averaging less than a tick profits don't make me warm and fuzzy. Afternoon session of 90 minutes had 22 trades, identified smaller one minute bars thereby dropping most targets to 1.00pt and dropping risk to 5 ticks to 3pts, netting 20.25, but at least this was closer to making one point. Trading crude oil produces more per trade, less loses, but harder to get filled on limits when scalping under 10 ticks.
Another thing I like is that the market offers so many opportunities to catch 1.5 / 3.0 points, whereas if you're trying to trade the major moves you're usually limited to 2-5 opportunities per session. Got greedy today, so 5 winners in a row: + 3,00, + 0,25, + 0,25, + 1,5 and + 5,00 for a total of 10 points per contract. Done after one hour.
I know nothing and my lucky break is probably going to end soon. There are far more able traders in this thread who should take you on. Yes, sir.
Absolutely, a trading plan helps the trader to leave the table as planned and to stay in control. Without a trading plan, it is difficult to be successful in forex.
I don't see many people here posting winnings. Credit to you, @Laissez Faire I was tongue in cheek. I do like the idea of trading the morning and having the rest of the day free. Not really free for me but able to perform duties of my day job I have been swing trading SPY for a little while and now curious about day trading the ES emini. Right now working on seeing if the stuff I use to trade SPY on the daily might apply ES intraday. Thank you for your responding to me.