The best way to overcome emotions is to pick a system and stick rigidly to it.
I use the 3 ducks system a lot. If you jump in early to try and make more pips you run the risk of the trade going against you. Much better to ignore that little voice in your head and follow the system
Hi,
Scalping is just a way of trading and there are lot more than one strategies, so I would like to believe that you have one. EA cannot be a strategy. Only if you have created a good working strategy than you can create an EA with your strategy parameters in it.
So, I am not sure if you really know what you are talking about.
Happy Trading
My scalping strategy combine many methods:
one MA and SRI with S&R, order when trend clear at D1/H1/M5 TF and space enough and good momentum.
It work only following the rule, but emotion issue caused violate the rule.
I think out a solution to solve my emotion proplem:
I need a reviewer when I want to place any orders, my wife will be my reviewer and boss,
only she agree my order, then I place the order.
My EA is my other strategy, work well.
Eurgbp long +200pips more now, still running.
Maybe rayner’s strategy is fit for me: long term trend following.
Always pick most strongest or weakest pairs.
Check month, week, day TF, order at h4 bias.
big stoploss.
Man, you have to keep in mind, because its weak or strong, doesnt mean its sustainable at that price.
Looking for turns, peaks and valleys in those same pairs is where your bread and butter is.
If the pair seems to be making a run, and your indicator says its weakest or strongest, Id start to find areas of correction.
Just sayin, Good pips to ya bud,
Learning is good to make profit in Forex and you can learn a lot from watching videos ,visiting different Forex related forums and blogs .
hi cledid,
i think knowledge is enough for me to make profit, my problem is discipline and emotion control.
each strategy, scalping,swing, position, trend following, all profit for me until i break discipline.
i create each ea to verify these strategy, all can make profit if you can obey discipline.
but human emotion control is different, hard for me to tfollow disciline always.
The good thing is that i am good at coding.
I use codes to verify every strategy, so i know it very much.
Sheldon, any news about your Journey? Really hope you are doing great!!
Hi Rokerij,
I quit trading from manual operation because my discipline and emotion control always break
my consistent profit, and turn to loss.
I try most of strategy scalping, swing, position, trend following, all can be profit if i obey discipline.
But my human behavior is not a consistent discipline.
we should respect market rule, trading is easy to learn, but discipline and emotion control is really hard.
I know my fault, so I quit manual trading.
but my EA is still running, I have put all strategy into EA, especially with Nikita’s strategy,
it work well.
Learning is a very necessary part in learning about forex trading and if you could spend sometime in the market then you can learn quickly, moreover you can also depend on forums and blogs to get you queries answered.
It is not easy to make millions out of forex starting with very little capital no matter how good you are with your discipline. There would be only few examples of such.
Let us continue the journey from my EA.
Not manual trading until i respect discipline and good emotion control.
EA short audusd, +80 pips , and move to BE , still running.
EA nzdusd long +60 pip, be now .
pin bar is a good setup chance.
EA nzdusd long +150 pips now and still running.
After i observe running result from my ea , it’ s perfect at execute
discipline, but it still has weak.
1). ea is designed to win at long term, so max dropdown maybe big
enough to blow out account.
2). position size can impact strategy success.
3). BE is two side sword
4). setup moment has some space to improve and filter
5). exit with max profit is a challenge
I will improve my ea to fit next stage milestone
The more long term order, the less order, the more discipline, more calm down
to analysis.
My long term order usdoil long at 28.0,+200 pips out by future rule.
long again at 30.9 , +300 pips more, still running.
usdoil long term target is 60.
Again, pin bar is the key to setup for success.
It’s time to continue this million journey from long term trading.
Long term trading is less impact by emotion, more time to observe
and analysis.
Three oreders are running now
gbpusd long +100 pips more
eurusd long +100 pips more
usoil long +500 pips more
when you really understand reading charts,
trading at M1 is same as at D1/h4/h1
today M1 short eurusd, +10 pips
