Bit tight for time tonight but had a quick review of my trades the last few days and can't believe how many losers I am having.
I have not traded this many losers ever. Maybe its something to do with trying too hard to have a successful thread, maybe the added pressure is just too much??
Anyway my Explorer account isn't looking too good is it??? 25 trades in total, 4 winners 8 BEs and 13 losers, not too impressive.
However the good news is due to my Money management plan and amazing discipline dispite trading at 1% per pip, 10% across 10 pip stops, I still have my account surviving.
Now that to me is good trading strategy as despite an appalling strike rate I haven't blown my account away. However I need to review my strategy because something is not right.
Having checked through every trade I took today I think I was entering far too quickly. I feel I was trying to play catch up once I started losing (just not use to it I guess) so kept jumping the gun on my entries.
Going to be different tomoz as will just trade my usual way paying attention to my entry and wait for them to set up properly. Also I am a trend trader so gonna just trade the trend, buy HLs and double bottoms only, sell LHs and DTs only.
Will cut any losers very quickly too my 10 pip stop is for emergencys only, 9 times out of 10 should be me closing manually to cut losses early or take profit.
By the way on the subject of money management I have only committed 20% of my available funds as I said on post 31 I have only committed £100 of my £500 available so only actually down 14% of my total funds available so not too displeased with that, again just sensible money management don't commit all your funds to your account just in case theres some awful worldwide calamity like 9/11 sending the financial markets into turmoil along with your trading funds.
Well i haven't given up yet and never will I either, I am gonna beat this forex trading if its the last thing I do. Sound money management has kept me in the game dispite a horrendous start to my thread.
Just gonna trade as if you guys aren't here tomoz , take every entry that comes and trade with the trend until the trend ends.
Won't be posting so much durring trading times as I feeel its messing up my concentration, gotta stay "In The Zone".
See you all tomoz.
I have not traded this many losers ever. Maybe its something to do with trying too hard to have a successful thread, maybe the added pressure is just too much??
Anyway my Explorer account isn't looking too good is it??? 25 trades in total, 4 winners 8 BEs and 13 losers, not too impressive.
However the good news is due to my Money management plan and amazing discipline dispite trading at 1% per pip, 10% across 10 pip stops, I still have my account surviving.
Now that to me is good trading strategy as despite an appalling strike rate I haven't blown my account away. However I need to review my strategy because something is not right.
Having checked through every trade I took today I think I was entering far too quickly. I feel I was trying to play catch up once I started losing (just not use to it I guess) so kept jumping the gun on my entries.
Going to be different tomoz as will just trade my usual way paying attention to my entry and wait for them to set up properly. Also I am a trend trader so gonna just trade the trend, buy HLs and double bottoms only, sell LHs and DTs only.
Will cut any losers very quickly too my 10 pip stop is for emergencys only, 9 times out of 10 should be me closing manually to cut losses early or take profit.
By the way on the subject of money management I have only committed 20% of my available funds as I said on post 31 I have only committed £100 of my £500 available so only actually down 14% of my total funds available so not too displeased with that, again just sensible money management don't commit all your funds to your account just in case theres some awful worldwide calamity like 9/11 sending the financial markets into turmoil along with your trading funds.
Well i haven't given up yet and never will I either, I am gonna beat this forex trading if its the last thing I do. Sound money management has kept me in the game dispite a horrendous start to my thread.
Just gonna trade as if you guys aren't here tomoz , take every entry that comes and trade with the trend until the trend ends.
Won't be posting so much durring trading times as I feeel its messing up my concentration, gotta stay "In The Zone".
See you all tomoz.
Feel the Fear and do it anyway!!!