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Day2 Same results 60%account diminished Maybe I am not serious enough to trade live account yet. My ego monkey is bigger than I thought. Seriously thinking if I am deciplined enough to carry on with trading. No amount of books or videos can help this issue, only myself have to deal with the demons inside my head . Deliberate practice +good habit loops is what requires now. Or just leave the trading alone!!!? |
what is it? entry rules? exits? if you don't mind... |
I coulndt keep up with my targets either profit target /loss limit for the day. Nothing wrong with the strategy, I believe in it . Strategy is simple using PA with, 5 smma channel entry exit , I will not take every signal as not all ma cross is a valid signal, usually with the momentum fractal break/retrace to s/d,2b, 2t all included. 9 out of 10 days reached 50-100 ticks within first hour. even today I was up 95 tick within 20 minutes or so. when to stop trading that's the dilemma. Also I see if I am to trade 5 minutes chart , I will not be taking so many trades. Today I was using 30 sec, 4 tick renko, and 1 minute all together. Any advice is much appreciated. |
i use 20% of the session range. once it hits, i'm out. i think quite few people have proven that setups have expiration time. it works during specific periods; usually at session opens, then the edge dwindles. at least you got 40% left. you can do a lot depending on what that is in $$$. 1-2 contracts is all you need to make few hundred-thousand dollars/day |
I will have to stick with the daily goals, if not met within 1st hour , I will have to quit for the day as Divergence does. Thanks for your support Hilmy. |
Then keep increasing contracts slowly . . . |
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20 Trades =69 ticks( still too many entries!!) I promised to stay on course Jason. |
Day 4 Blown account. period. |
 ?How much if i can ask i dont trade EMINI but you need atleast 2000 dollars to trade futures ore am i wrong? I know it depends on brokers daily margin but still if daily margin is 400 dollars its very hard to trade a 1000 dollar account ore am i wrong again.LOL |
The way i trade 5k is too little to start, i would have survived if its 10k or more. even 25k is much better, too damn easy to handle swings with multiple lots without a sucker hard stop. I dont just blame my discipline alone in this instance. its just has to do with the plan, trade management scheme is not in the harmony with my innerself. |
3-5 k at least to start with would be my suggestion. |
1 Attachment(s) Deliberate Practice: Creating habit loops Goals for this week: Set Target/sl.. no fiddling with trades , let the market decides. daily limits: +40/-40. |
I would assume that you reckon you would not have lost if yo had more money, but the reality is you would have lost even more money had you deposited more. One should always look towards their system as to the reason why they failed. If yo really believed that 2x or 3x more funds would have saved you, then with the same amounf of money which yo have lost and 2x or 3x less risk, would have resulted in you still being able to trade. |
You better spend your valuable time elsewhere. |
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You are correct sir. Clearly I have no idea how you trade your system, however, from the information you mentioned to us you lack money and trade management! I would suggest the following book in order for you to grasp that because you are a loser, that is why you LOSE! and losers make excuses, just as you did with the IF I HAD MORE MONEY QUOTE A winning mentality doesn´t make or accept excuses! Winners plan ahead by factoring in variations which you clearly didn`t use. |
put 0n just 9 trades on a cent account and started to verbal vomit all over the forums . |
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Thanks to Admin & Forex factory for clearing up the clutters |
1 Attachment(s) staying on ... |
have you started a new account??? and gone over to renko also i have tried it a little with CFD`S on the DAX with 250 bricksize but still it goes very fast i dont know what bricksize you use but are you having success with renkos so far? |
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