DislikedLET YOUR WINNERS RUN!
This is the only way to make it. It is easy to have 1-3 300-1000 pip trades a year if you let a runner free.
I have learned to only take trades with at lease a 5-1 r:r.
Find a hobby that coincides with your trading life. Staring at a screen all day will only make you close winning trades to soon and let losing trades run to long.
I've taken up fishing and mountain biking during my trading career and can honestly say that my biggest winning days are when I walked away from my screen and came back to a take off trade I...Ignored
While I am "chained" to the screen all day due to the time frame I trade, I do not stare at the screen. I make a decision at the end of every 5 minute candle and then I shrink my MT4 down and read a book or something for 4 minutes while I wait for my watch to beep and tell me that there is 1 minute left on the current candle and that I need to evaluate it. Then the cycle repeats.
Staring at the candles while they form just stresses me out. It's also boring and a poor use of time as far as I'm concerned. I have a trade manager check me out of trades, I never pull out early so all I'm responsible for is pulling the trigger to get in. That being the case, why bother watching to see what happens while a candle forms? You can read a lot of books over the course of a month while spending 10 hrs in front of a screen working M5 charts this way.
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