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My take on Emotional Discipline

  • #21
  • Jan 15, 2018 3:55am Jan 15, 2018 3:55am
[quote=Tfh;10671838]
Quoting Rmg
{quote} Clearly emotion got in your way as it does in everyone's case. When you say you reversed it what do you mean?
i mean this... trigger happy fingers
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on a postive roll...
  • #22
  • Jan 15, 2018 4:48am Jan 15, 2018 4:48am
2nd entry on dax
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on a postive roll...
  • #23
  • Jan 15, 2018 5:04am Jan 15, 2018 5:04am
Quoting Rmg
2nd entry on dax {image}
bang on target, 2 trades of dax provides 80 pips.
on a postive roll...
  • #24
  • Jan 15, 2018 6:02am Jan 15, 2018 6:02am
bullish flag on GN
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on a postive roll...
  • #25
  • Jan 15, 2018 6:48pm Jan 15, 2018 6:48pm
Quoting Rmg
{quote} bang on target, 2 trades of dax provides 80 pips.
why not stick with DAX for a while ?
I see your DD went from -10% to -1.8% trading DAX for a day
well done!
...
  • #26
  • Jan 15, 2018 11:48pm Jan 15, 2018 11:48pm
Quoting Rmg
bullish flag on GN {image}
Breaking out to north
on a postive roll...
  • #27
  • Jan 15, 2018 11:49pm Jan 15, 2018 11:49pm
Quoting Piquant
{quote} why not stick with DAX for a while ? I see your DD went from -10% to -1.8% trading DAX for a day well done!
True. Thinking about it.
on a postive roll...
  • #28
  • Jan 16, 2018 2:25am Jan 16, 2018 2:25am
late to the party
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on a postive roll...
  • #29
  • Jan 16, 2018 3:22am Jan 16, 2018 3:22am
Quoting Rmg
{quote} Breaking out to north
Nearly there
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on a postive roll...
  • #30
  • Jan 16, 2018 1:15pm Jan 16, 2018 1:15pm
I am no guru, more of a newbie in trading but I would say that your discipline mistakes come from not having a winning system that you trust trading which matches you personality.
  • #31
  • Jan 16, 2018 4:43pm Jan 16, 2018 4:43pm
20% loss again
Wide stoploss on dax,
right time in wrong side of the trade again,
generalising stupid idea of oh price will keep going up.
went to work, came back to see -20% loss again .
This is third time already in this month 20 % loss and profit zigzag in equity.
This spiral starts with the idea of bringing back equity to where it was on beginning of this month.
Increased risk will bring more damage to the account.
Failed to book profit on GN trade when market was offering 8% return
Back to square 1.
on a postive roll...
  • #32
  • Jan 16, 2018 7:53pm Jan 16, 2018 7:53pm
Quoting Rmg
20% loss again Wide stoploss on dax, right time in wrong side of the trade again, generalising stupid idea of oh price will keep going up. went to work, came back to see -20% loss again . This is third time already in this month 20 % loss and profit zigzag in equity. This spiral starts with the idea of bringing back equity to where it was on beginning of this month. Increased risk will bring more damage to the account. Failed to book profit on GN trade when market was offering 8% return Back to square 1.
I wouldn't leave a position running especially DAX, because anything can happen.
Another point I want to add is that when you stick with 1 instrument, you learn the little nuances and therefore learn to know what to expect.
DAX usually gives a 60-70pips right around London open. Then depending on PA ( I like to look at 15m) you might get a good run up again (80-100pips) in 1.5hour OR in 4hours OR sometimes 2-3 hours into US session. Yes they're ways to make money as soon as Frankfurt gets going but that's the general flow of DAX.
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  • #33
  • Jan 17, 2018 12:21am Jan 17, 2018 12:21am
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on a postive roll...
  • #34
  • Jan 17, 2018 1:20am Jan 17, 2018 1:20am
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on a postive roll...
  • #35
  • Jan 17, 2018 2:08am Jan 17, 2018 2:08am
Quoting Rmg
{image}
Damn, reverses.
on a postive roll...
  • #36
  • Jan 17, 2018 2:11am Jan 17, 2018 2:11am
Quoting Piquant
{quote} why not stick with DAX for a while ? I see your DD went from -10% to -1.8% trading DAX for a day well done!
Should stick with dax only
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on a postive roll...
  • #37
  • Jan 17, 2018 3:22am Jan 17, 2018 3:22am
Why are you having the TE with privacy on the equity? Maybe is another emotion to let go.
Just to know, it is possible to calculate ones equity, in your case is quite easy.
  • #38
  • Jan 17, 2018 4:11am Jan 17, 2018 4:11am
Quoting aa4fx
Why are you having the TE with privacy on the equity? Maybe is another emotion to let go. Just to know, it is possible to calculate ones equity, in your case is quite easy.
Just to avoid idiots attention, anyway I have mentioned in profitfarmer's thread my account size, also don't need a Sherlock to figure out from my charts.
on a postive roll...
  • #39
  • Jan 17, 2018 4:54am Jan 17, 2018 4:54am
Whipsaws, either be a bull or bear, no wonder pigs get slaughtered.
on a postive roll...
  • #40
  • Jan 17, 2018 5:05am Jan 17, 2018 5:05am
Going below 1 hr timeframe is not my ground, sure way to burn my account in couple of days.
on a postive roll...
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