We are going to lose money... that's the nature of the business, and the cost of learning.dydynamic » Fri May 12, 2017 10:08 pm wrote:
I analysed the chart again and I believe your shorts are in order....... :hi:
Most times we see it, we know what to do, we do know how to trade, we are just too scared to pull the trigger at the right time, timing the market entries is very difficult when one is too scared to let go of past mistakes and losses, and this clouds our judgement and blinds us from seeing how the market truely moves...THAT IS MY MAJOR PROBLEM...I hope I fix it soon..... :youknow:
Trade small enough, and you can afford to make enough bad trades that you learn how to make good trades
When entering a trade, ask yourself, "How much am I willing to pay for this lesson?" Never look at how much you could "win"!
Good trade management is more important than the perfect entry...
A well managed sloppy entry will, more often than not, pay better than a sloppily managed perfect entry
Let your current trade on a pair cover the cost of your scale-in trades, and still put some money into your balance...
Look at Steve's DIAD stuff... I tend to put my BE line 40% (of the gap between trades) below the first scale-in trade, so I get to pocket 20% of the gap if the BE line is hit... If I add a second scale-in, (using a fixed pip-step) I put the BE line at 80% below the second scale-in, which gives me 60% of the pip-step in profit.
I currently have a buy trade of 0.01 lots on GBPCHF, which I opened on March 9... Its server-side SL is $46 in profit, its locally monitored trailing SL is $50 in profit (Swap is currently 64 cents)... If the market comes to within 10 pips of my trailing stop, I plan to drop a 0.1 lot buy on it, with a 12 pip locally monitored SL, (20 pip server-side SL) and, if price goes my way after that, I'll be doing the DIAD stuff, with a 20 pip gap between trades. Not today, though, as I don't trust the weekend gap
I've been playing with this train wreck for over 5 years, using god knows how many EA's which win money quickly, and give more back even quicker, blowing accounts along the way.
I opened an account with $750 in June last year, trying to learn how to pick my trades, and took until three weeks ago to lose all of $100... In the past three weeks, I have regained $81 (all with 0.01 lot trades).
I'm getting there, slowly, but I've got a hell of a long way to go yet
Have fun!
Radar =8^)