First I want to say thank you to all the people involved in putting together the babypips school.
I am still going through it but I can say it’s a great compilation.
I’ve been trying to trade on and off for a few years now without being able to become regularly profitable in fact I have incurred some real cash losses as many who take this trade as a game or partime playtime and not as a serious business.
Due to health issues I have had to give up work after never being unemployed in the past.
It’s now actually now or never for me and I have been studying my brains out when I am well enough to it actually make myself a professional trader one day.
After reviewing my past performance I can say that using my basic technical analysis tools I am able to make some regular profits BUT my emotions always seem to kill me.
I read something somewhere or heard it online I don’t remember.
PLAN YOUR TRADE & TRADE YOUR PLAN.
I think that has to be my most important rule now in my trading toolbox (as said in school:D)
When I do the above everything is ok My trade either hits my tp or sl and I am satisfied either way because my ac is still slowly growing.
My problem still is doubling up on a winning trade then bottling out of it for a loss for my first trade to come in or loose but doing what I did I just lost more than in my initial plan.
Another is trying to follow and trade the market watching the small timeframe 1 5 min I am almost very often the sucker when I try to trade like this and not my basic plan.
I also well quite often fail to put a decent stop loss in and often get stopped out just to see my trade come in a bit later:17:
Another is getting that buzzing feeling when imp on a winning streak and decide to increase my lot size and everyone knows what happens to us newbie’s when we do that.
I have come to the conclusion that understanding how the price moves is of great importance just as much as the traders behaviour is too.
My personal goal is to master the two above and see where I am then.
Please feel free to leave any advice or comments.