HELLO . I am sure almost everyone on this forum can relate your post. It is unbelievably true that every single word that you wrote down seemed like i was writing them. you will get very similar response from everyone here. that it is all part of your growth as a successful trader. The key is not to give up. and the question is that how badly do you want to become a success. I recently heard a qoute from a friend
"LUCK IS WHEN OPPORTUNITY MEETS PREPARATION"
I have been working on a very simple factor. When i see a setup and i am present i take it( TCs Only. ) i have not had a trade on 4 hour all week last week and none this week so far. the set up was there but i was not present. That is why i worked on learning the 5 minute system to keep me going .
Market has been tough recently because it is ranging. It is a very tricky thing to understand that this strategy keeps you out of bad trades.
First thing your brain tells you.
" so whats the point if i will not be trading. look at the 100's of pips the market is moving while i sit on my hands. If only i had entered i would be up X amount of pips , what a failure i am ....on and on and on"
but the important thing is that the market can move in any direction. Our job is to CHOOSE THE SET UPS that are most logical to trade and acceptable by our brains and do not hesitate to enter when they show up. It is like training ones brain to react to a set up when you see it. and be ready with a plan to execute it as in take profit and manage loss.
Phillip has been stressing on everyone to have a short term strategy becasue when market is ranging it keeps you going. Do not give up. Trading like any other profession takes time. and your time will come too. Hopefully mine too some day soon !!!.
Nadia.
"LUCK IS WHEN OPPORTUNITY MEETS PREPARATION"
I have been working on a very simple factor. When i see a setup and i am present i take it( TCs Only. ) i have not had a trade on 4 hour all week last week and none this week so far. the set up was there but i was not present. That is why i worked on learning the 5 minute system to keep me going .
Market has been tough recently because it is ranging. It is a very tricky thing to understand that this strategy keeps you out of bad trades.
First thing your brain tells you.
" so whats the point if i will not be trading. look at the 100's of pips the market is moving while i sit on my hands. If only i had entered i would be up X amount of pips , what a failure i am ....on and on and on"
but the important thing is that the market can move in any direction. Our job is to CHOOSE THE SET UPS that are most logical to trade and acceptable by our brains and do not hesitate to enter when they show up. It is like training ones brain to react to a set up when you see it. and be ready with a plan to execute it as in take profit and manage loss.
Phillip has been stressing on everyone to have a short term strategy becasue when market is ranging it keeps you going. Do not give up. Trading like any other profession takes time. and your time will come too. Hopefully mine too some day soon !!!.
Nadia.
TRADE WHAT YOU SEE... FOCUS ON SUCCESS