I’m a long term trader and I trade on the daily. I also don’t care if I am in a trade or not, so NNFX works fine for me. And actually, his rules can be easily translated to day trading if required in terms of finding your own indicators for the algo and taking care of your pysch and Mny Mgt.
I also got a lot of good info from this thread - MeiHua - it’s very old but there are nuggets of gold that, without them, I woud not be successful now.
Finally, I also credit YouTuber Trading Rush in helping me realise you have to look at the bigger picture (in his case 100 trades) - which is where I think you possibly went wrong Emily.
My suggestion is to be prepared to accept that a single position may cause you to lose a small amount, but confident that, as part of the bigger picture (over a year/100 trades), the algo that caused you to open the position in the first place will actually end up giving you a decent return over the long term.
It is a FACT that not every trade taken as part of any strategy (profitable or otherwise) will be a winner, and it is a FACT that if you go for gold with every trade and do not treat it as a small part of a grander strategy, you will lose.
So it is a very good idea to get used to closing losing trades, accepting the loss within a (hopefully) winning strategy, and moving on. I sincerely wish you a lot of luck.
Hello Emily!
I saw you have couple of people offering help to your problem.
I am a full time trader and does have a tradingview account, and if you are keen can follow me over there.
I do see a couple of issues here.
1 - not putting stoploss as you also know is deadly it can be a vicious cycle and main cause of blowing you r account.You might get lucky 1 2 3 times but once you got a Stoploss that is bigger than what u gain previously…you are pretty stucked…work damn hard on this.bad habit number 1,number 1 killer for account and bad for trading psychology.
2 - 2k account, what is your risk per trade? 1?2? 3%?
3 - understand volatility by using ATR, tune your setup according to ATR of the day.it changes.if ATR is 10, do give ur trade a bit allowance to breath…MM are out there to take your SL! (this is to you dont know where to put SL)
4 - 66% rate is good…but on what horizon?6 months?1 year?
Hope it helps.