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PeterFM, please be aware of that there's a bank holiday (Thanksgiving) in the US today.Ignored
It's going to be a long slow grind from now till Christmas - I almost stop trusting any signals I get at this time of year.
Naked Trader 15 replies
Watch me rise or see me fall 18 replies
Trade Naked Candlesticks strategy 15 replies
Trader gone mad 29 replies
Journal of a Naked Trader 0 replies
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PeterFM, please be aware of that there's a bank holiday (Thanksgiving) in the US today.Ignored
Psychological Rules
The Method Rev. 4
These guidelines are written for a north-going market. The reverse applies to a trend heading down. Candle stick bars are assumed.
Remember that this is still a discrete process and not an automatic system that can be implemented in an MT4 EA or something.
Trending Market
Consolidating Market
DislikedManaging exits is THE key element to trading, I feel, so if I may I would like to offer my way of dealing with this. This is based on how I trade now and relies on a certain psychological aspect to trading that you have to have dealt with successfully.
The psychological side of this takes some time to overcome but until you have it under control exits will always cause you grief. The reason new traders end up losing out on too many trades is that their expectations for each trade are unrealistic; they think in terms of fixed R:R ratios...Ignored
DislikedDear oh dear....
I can't believe you closed just to take some profit! What are you trying to do? Become a profitable trader?
Tutt, tutt. I've never heard the like of it before - closing for profit. What ever will be next?
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DislikedGo away!
Yeah, I'm pleased with the profit, but I closed out for the wrong reasons, I think.
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