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My take on Emotional Discipline

  • #41
  • Jan 17, 2018 3:53am Jan 17, 2018 3:53am
Quoting Rmg
Going below 1 hr timeframe is not my ground, sure way to burn my account in couple of days.
it takes "a lot of time" to get good at trading lower TFs I think its well worth it
but I wouldn't advise you trade them on live unless until you know what you're doing
been doing it 2 years almost still haven't cracked everything
I've blown up 2 small accounts trying to learn trading 1m chart
but surely getting better as the months go by

I used to get every entry and even the direction wrong on 1m
but now its more like 50/50 which is a great improvement
...
  • #42
  • Jan 17, 2018 4:02am Jan 17, 2018 4:02am
Quoting Piquant
{quote} it takes "a lot of time" to get good at trading lower TFs I think its well worth it but I wouldn't advise you trade them on live unless until you know what you're doing been doing it 2 years almost still haven't cracked everything I've blown up 2 small accounts trying to learn trading 1m chart but surely getting better as the months go by I used to get every entry and even the direction wrong on 1m but now its more like 50/50 which is a great improvement
True. I tried in the past without fully understood PA.
I took entry from 15 MTS today with success, then went down to 5 minutes whipsaws. I better stick with 1 hr or higher. But only looking at Dax. 4th entry still in play, probably last one.
on a postive roll...
  • #43
  • Jan 17, 2018 12:05pm Jan 17, 2018 12:05pm
From now on concentrate only on Dax, leave the fx pairs till I good at it. Seems I am better off with Dax. Everything changes the way I trade.
on a postive roll...
  • #44
  • Jan 17, 2018 11:30pm Jan 17, 2018 11:30pm
whatever happens ... embrace
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on a postive roll...
  • #45
  • Jan 18, 2018 1:21am Jan 18, 2018 1:21am
choppy
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on a postive roll...
  • #46
  • Jan 18, 2018 1:43am Jan 18, 2018 1:43am
Quoting Rmg
choppy {image}
1h? 15m?
...
  • #47
  • Jan 18, 2018 2:05am Jan 18, 2018 2:05am
Quoting Piquant
{quote} 1h? 15m?
15 mts 1 hr both
on a postive roll...
  • #48
  • Jan 18, 2018 2:26am Jan 18, 2018 2:26am
5 minutes gap provides strong resistance??
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on a postive roll...
  • #49
  • Jan 18, 2018 5:07am Jan 18, 2018 5:07am
Still holding my shorts, sitting on my hands.
on a postive roll...
  • #50
  • Jan 18, 2018 5:13am Jan 18, 2018 5:13am
Quoting Rmg
Still holding my shorts, sitting on my hands.
Closed. limit orders on both side of the range.
on a postive roll...
  • #51
  • Jan 18, 2018 9:52am Jan 18, 2018 9:52am
Bite the dust again. Account diminished into half. What I did so for in this month is pure gambling not trading.
on a postive roll...
  • #52
  • Jan 18, 2018 4:56pm Jan 18, 2018 4:56pm
Quoting Rmg
Bite the dust again. Account diminished into half. What I did so for in this month is pure gambling not trading.
least you know what you did.
the question:
what will you do next?
there is always, always another trade!!
  • #53
  • Jan 18, 2018 6:09pm Jan 18, 2018 6:09pm
I guess that he will lose some more, ... much more ... why? cause he has too much anger, at lease this is what I read.

As for dax now @ 13273 is just about to fall maybe 70 ... maybe more, or maybe I gamble too.
  • #54
  • Jan 19, 2018 5:02am Jan 19, 2018 5:02am
Quoting profitfarmer
{quote} least you know what you did. the question: what will you do next?
Thank you for stopping by, hope you had nice holidays!

What i should do now, is to risk less and trade less. Should stick with the rules .
Easier said than done.
Final phase of gambling mode, jumped straight in front of freight train!!!
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on a postive roll...
  • #55
  • Jan 19, 2018 5:09am Jan 19, 2018 5:09am
smaller is a sound idea.
of course the gains wont look that sexy.
but the account will have lot better chance to survive until you figure out a way to win more than lose.
there is always, always another trade!!
  • #56
  • Jan 19, 2018 5:17am Jan 19, 2018 5:17am
Quoting profitfarmer
smaller is a sound idea. of course the gains wont look that sexy. but the account will have lot better chance to survive until you figure out a way to win more than lose.
That was my original idea when i opened this account, but derailed somewhere.
I am not in a rush to make quick bucks, i need stop all this nonsense , continue to do what i was doing last month.
on a postive roll...
  • #57
  • Jan 19, 2018 5:20am Jan 19, 2018 5:20am
Quoting Rmg
{quote} Thank you for stopping by, hope you had nice holidays! What i should do now, is to risk less and trade less. Should stick with the rules . Easier said than done. Final phase of gambling mode, jumped straight in front of freight train!!! {image}
I see your using MAs, why did you sell into an uptrend?

"something to think about"
"I was there many times than I can care to remember"

DAX had been rising up steady and fast all throughout the session. I was on 1m and it didn't even drop below my biggest MA, only then I would consider change of heart.

I don't know your acc size, but I wouldn't trade DAX on 1h, maybe 15m,10m or even 5m ? whatever suits you.

you know what if you're gambling, you probably haven't straightened out your style/method.
I still am struggling, in the process of putting everything together

but during my past 4 years I was all over the place, but had no style or method. I wouldn't trade real cash if I didn't have a proven method or something that I have 100% confidence that I won't blow up my account at the least.

if you've already got your method/style that you have 80% confidence in, do not change anything keep doing what you're doing.
...
  • #58
  • Jan 19, 2018 5:34am Jan 19, 2018 5:34am
Quoting Piquant
{quote} I see your using MAs, why did you sell into an uptrend? "something to think about" "I was there many times than I can care to remember" DAX had been rising up steady and fast all throughout the session. I was on 1m and it didn't even drop below my biggest MA, only then I would consider change of heart. I don't know your acc size, but I wouldn't trade DAX on 1h, maybe 15m,10m or even 5m ? whatever suits you. you know what if you're gambling, you probably haven't straightened out your style/method. I still am struggling, in the process of...
You are right about real accounts to try .
But i had done enough of the demo trading , actually did more harm than good.
Not a problem with the system i follow but managing it with emotions.
Simply follow the MA channel from the other side , that's all there to it. Proved profitable .
But mixing up Position sizes, not accepting losses, not booking profit( yesterday could have been 25% up, but let it run un attendive) when market offering is the problem. (greed)
Speaking of MA i would never go against it, but today i was trading my gut feeling ignore the facts,

Should take a break before shit hits the fan.
on a postive roll...
  • #59
  • Jan 21, 2018 3:05am Jan 21, 2018 3:05am
This is what happens if we don't follow the daily DD limit, just matter of hours to blown up.
Resist and react now.
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on a postive roll...
  • #60
  • Jan 22, 2018 12:02am Jan 22, 2018 12:02am
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on a postive roll...
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