That is it , when I post my vids and get emailed etc I always say its the mind game rather than the charts that will fail you. Conquer that and you will gain better results
that why im probably intrigued by the game, whats ironic im not even materialistic could nt give a monkeys about money, having freedom nice though
Thats a good start , dont swing for the fences and trade what you see
10 months on demo… and still counting.
i didnt mean that to sound flippant just the challenge is as important
I agree. The emotional and psychological side of things really has a huge impact. Still trying to sort that out myself, It also might take a long time to finally figure out how not too get too affected with each trade but at the same time learn from my mistakes.
Soon as I made this my job and started to follow a business plan , using the capital as a tool rather than income it became easier as never consider the money till I bank at the end of the month.
Read or buy the audibile book
“Trading In The Zone”
By Mark Douglas
Go to youtube and watch every “psychological video” from Etienne Crete - Desire To TRADE
90% of this is your mind, how you analyze and control emotions, how you let emotions affect your processing of information.
You said a mouthful!
That’s very difficult. But definitely possible.
How long have you been in the learning process for?
I started just looking into forex and started my MT4 demo about 4 years ago before Trump was elected and I am now just becoming profitable with equities on a fidelity account and about to switch back to forex
Do you have more of a fundamental news approach or price action?
I’m mainly price action - however some fundamental events can’t be ignored.
Luckily fundamentals dont change that often - we are currently in a long term structural gold bull market as we are in a long term structural tech bull market.
I see. how long do you usually hold your trades? I like to close my trades within a few hours
I trade daily charts mostly.
I hope to hold my trades as long as possible but with the trailing stop strategy I use the market usually kicks me out between 2 - 5 days.
On the occasions the market is being very kind I get to be in a trade about 10 days
How big are your moves? I hate to tie one trade up for more than a day especially with limited funds…also do you trade equities with the same strategy?
How big are my moves? I can’t say - some are big some aren’t
However I trade predominately inside bars - meaning I can use tight (ish) stops and the resulting moves can be large multiples of that. I’ve a preference for volatility breakouts and inside bars are a perfect way to catch that.
I don’t trade individual equities but actively trade the NDX1O0
If you use candlestick charts it would be great if you could send a screenshot of one of your past price action setups including the timeline, your stop and your target for that particular trade. I will do the same …our timelines are vastly different and I would like to compare the two
And since you use a trailing stop just tell me where your stop originated
I have a blog you can get to the link via my profile - I tell all.