I’m practicing and also preparing more charts for practice. I’m really considering focusing on trades that present a clue + confirmation.
Basically, when I get a signal I’m not 100% sure about it. But I keep seeing that there are lots of trades that there is a sign acting as a clue, then a confirmation signal.
Those trades are very obvious. Of course, not 100%, but pretty close haha.
The scary part is waiting for that kind of signal. It may come only a few times a year in a given pair–possibly less than 10. Waiting for this kind of signal also means that I have to be willing to MISS OUT on swings that don’t fit this criteria.
Looking at big beautiful candles and doing nothing about it still irks me. But this kind of strategy could be better for my margin.
My cycle has been
- catch a nice entry
- repeatedly lose trades while good trade is creating profit
- close profitable trade, margin is lower than before
I’m getting tired of it, and I need to break this cycle. If there’s a way to keep me from wasting money on bad trades, and focus on higher-probability trades, shouldn’t I do it? Even if it costs me smaller trades that could lead to faster profits?
Well, the problem is that I’m not doing so well trying to catch those small fast-money trades. I’m really having trouble with those. They don’t seem to match the way I think. I want to try this other way which offers higher probability.
The fast money seems too difficult for me. I’m not sure if that’s the right way to say it. It just feels chaotic.
I’ve used this analogy before. It feels like trying to catch coins dancing around in a blender. Sure, you might catch a few coins, but your fingers get chewed up every time.
That’s how I feel. It’s awful. I need a strategy that works for me. Something that feels natural for me. This way feels natural for me. We’ll see how it goes.
I want to go back to live trading. I want to build up my demo account to what it was when I first came back to demo, but that may take too long. Instead, I’m gonna wait to see if I can build it up to a certain $ amount, and consistently have green months.
After that, I’ll go back to live trading. But, demo first.