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Trading for Retirement

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  • Post #21
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  • Dec 17, 2018 5:47pm Dec 17, 2018 5:47pm
  •  happytrade38
  • | Joined Sep 2014 | Status: Member | 508 Posts
Quoting HeyYou
Disliked
{quote} I solved by practicing mindfulness while trading live (with small acconts). I should not forget how hard it was. but it doesn't take long if you do it seriously IMO.
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Yes, agree with trading with small accounts. I guess it also depends on the strategy that you employed. For example, my daily strategy with doncian breakout is no brainer at all with define entry and SL rules. However, when trade with trend and pullback on H4 timeframe, it still involves sort of some judgemental call. I hope to put the H4 strategy as simple as the daily one, while can achieve my expected return of 9%.
 
 
  • Post #22
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  • Dec 17, 2018 6:51pm Dec 17, 2018 6:51pm
  •  RCtrader
  • Joined Aug 2018 | Status: Honourable Member | 1,805 Posts
Quoting happytrade38
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{quote} Well done, you have done 15 years ahead of me. Can tell me more about your retirement life now?
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It resolved onto what I want to do and that includes trading.
Risk Management is of utmost importance!
 
 
  • Post #23
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  • Dec 21, 2018 9:31pm Dec 21, 2018 9:31pm
  •  happytrade38
  • | Joined Sep 2014 | Status: Member | 508 Posts
It's Saturday today.
Times to spend a little time to jot down what I have learnt I past weeks.
In past few weeks have been challenging for me, stressful in new job and loss focus in H4 strategy due to streak losses. The streak losses not because of the strategy is not working, it's my that to take trades deviate from the initial pattern I lay out. Although I still in great drawdown, however, I feel much better now with focus on the past victory success pattern to reinforce my mind to remember the pattern I am trading.

The world is fully of attractions and distractions especially you are on social network. We have to keep remind ourselves the strategy is working and refrain the mind to hop to another strategy just because experience drawdown.

Partially this is due to the H4 strategy I trade has little judgemental call of what is pullback at least the good pullback versus every pullback. Unlike my daily strategy is almost 100% mechanical, that's why I could fully focus and execute the strategy I lay out. I feel this is a good challenge for myself in year 2019. If I could continue with the same H4 strategy in 2019, at least I have better control my psychology and my mind.

The S&p500 has been down more than 15% and it offers opportunity to long if you are the long term investor who believe one day it will back to where it comes from. I have split the capital into few buckets, waiting to enter when I down by every 5%.
 
 
  • Post #24
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  • Jan 1, 2019 5:09am Jan 1, 2019 5:09am
  •  happytrade38
  • | Joined Sep 2014 | Status: Member | 508 Posts
Today marks the 1st day of 2019, there is another 15 years count down to the financial independence. Today have mix feeling: Happy side is another 15 years to go for the financial independence; sad side is holiday is over, have to work tomorrow. Although am "Blue" today, but I feel grateful that I have a plan for my wife and myself for the longer term. I just have to be discipline and consistent, the plan will be realize.

Hope everyone has the good year ahead in 2019.
 
 
  • Post #25
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  • Last Post: Jan 1, 2019 11:29am Jan 1, 2019 11:29am
  •  bluepanther
  • | Commercial Member | Joined Jan 2013 | 260 Posts
Good that you are not restricting yourself to simply EAs.
EAs alone will not ensure success. A successful trader is one that can read the fundamentals and apply those to price action.

I only experienced phenomenal success when I took to swing trading on higher timeframes, and made 800% and 1000% with Short CHFSGD and Short EURTRY in October 2018.

I hope you succeed in your goals.
All the best in your trading.
 
 
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