**I did place new pending orders for buy and sell at PSAR change points after closing my open trades.
I feel like I already had a good trading session. Only 1 pair that looked like a trend (Eur/Usd), but 1 trend combined with other winners that averaged probably 8 pips each while ranging was satisfying.
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It seems like I would catch all trends with this PSAR strategy. There surely will be some losers. Wonāt catching a trend easily wipe those out?
When I think about the days I would catch 2 or3 trending pairs on the same day, my eyes light up.
My biggest problem has always been the stop loss. Set it too big, freak out, close trade early at a loss. Set it too tight, stop gets hit, price rebounds, miss the 50pip move. Iām figuring it out though, slowly.
So true.
The stop loss is the key.
(Another 2 wins on PSAR) Iām closing them all early today, but the plan is to let them run after testing for a few weeks.
Nearing 100 pips.
Eur/Jpy - excellent.
Usd/Jpy - good.
Eur/Usd - excellent.
Eur/Cad - excellent.
Naz/Usd - excellent
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Damn. Nice work. I keep getting stopped out on EU. Maybe Iām overthinking it
That is so frustrating.!
Everyoneās been there. Iām still washing the losing off of me for my first 2 years of trading.
But I am LOVING this morning.
You ever scale in on the long ones?
Not usually.
Not that there is anything wrong with doing it. Sounds like the big time traders do it all the time.
I got a PSAR change on Eur/GBP so it triggered a buy order (tiny buy order). Up 3 pips. Weāll see how it goes. I did put in a TP on this one as Iāll be hitting the road soon.
TP hit - add 10p.
Time to go to work.
Have a great day everyone.
** here is what the trade looked like just after the position opened.
NZD/Cad just triggered a sell signal on PSAR
i must say, thatās impressive!
(if youāre going to keep trading like that, iāll have to stop telling people that you canāt make much with an account that size!)
Iām not sure why people would say such a thing. Because you cannot run the 100 meter in under 9.6 seconds doesnt mean someone else cant.
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I think itās harder psychologically to start with really low numbers. Unless your mind is really strong and youāre truly happy with making a few cents and scaling up, then greed/overtrading/overleveraging usually takes over. I know Iām that way. I trade too much because my account is small. Iāve proven this to myself by taking one of the free ftmo challenges, and passing it. In that challenge, my capital wasnāt the object and I played like it was a job instead of trying to increase my own bottom line. It took me a very long time to learn to be that way with my own money.
Nowhere close to saying this is factual for others. Just my opinion and how I know I can be.
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The nzd/cad signal looks like a bust. I closed it with two pips profits.
The key is consistency. One time frame (1 minute chart), one currency pair, one lot size among other things and practice, practice, practice. You learn discipline the hard way so it sticks with you. Also you must appreciate that a lot of those on here dont have the large capital to start trading as you may have. I get tired of stating the FACT that 2 or 3 United States dollars per day can make a huge difference in the fortunes/lives of a lot of people who frequent this site.
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@THE_GOATE
Nicely said. Itās also great to know there are many trading styles that can lead to success.
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You are 1000% correct.
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