Proving the theory of persistence | Forex Factory

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Proving the theory of persistence

  • #1
  • First Post: Edited Mar 16, 2018 7:12am Mar 15, 2018 2:24am | Edited Mar 16, 2018 7:12am
Hi guys,

I was never a patient person in terms of trading .
The trading system I was using (classic PA - fibs, S&R, TLs, candle pattern confirmations, and sentiment) for 4 years is profitable, in fact it is able to provide good 5% gain each month. But the problem is, I was never patient enough to compound on these gains and rather would withdraw due to some reasons.

Thus, this journal is aimed to develop myself in terms of discipline and persistence. The system I am going to use is described here.
My broker is Exness.

The goal:
Make 2-3% gain every day in 50 upcoming trading days. With simple math it'd make me 269-439% gain. I will inject more funds after 20 days.

MM: 2% risk per trade
R&R: 1:0.5 to 1:1

Due to the fact that I am on my job, I will post the trading report once a day the next trading day with screens.
Analysis of mistakes and progress will also be displayed.

Wish me luck guys!
  • #2
  • Mar 15, 2018 11:53am Mar 15, 2018 11:53am
5 percent a month for 4 years is awesome!

And compound interest is very powerful.

Staying disciplined will be the hardest part. Fear, greed, and impatience are hard to control. That's why I feel many people look to EA's because they truly have no emotion.

I hope this works out for you. Best wishes!
  • #3
  • Mar 16, 2018 4:29am Mar 16, 2018 4:29am
Quoting ezbro
5 percent a month for 4 years is awesome! And compound interest is very powerful. Staying disciplined will be the hardest part. Fear, greed, and impatience are hard to control. That's why I feel many people look to EA's because they truly have no emotion. I hope this works out for you. Best wishes!
Thanks for the kind words bro! Will def try being so
  • #4
  • Mar 16, 2018 4:49am Mar 16, 2018 4:49am
Hi guys,

Hope you are having a great day!

Progress: Two days' targets are reached.

Analysis: I don't think that it is necessary to post the trades I've taken, as they are so many.

Lessons learned:
1) I have cut losses short, as I exited on BE and later realized that those trades were profitable. However, there is no guarantee that the scenario will always be the same. I was so hesitant to put to BE and greed is still playing its role.
Hence, I will believe in the system and stick to the rules.
2) wanted to take more and more trades, but shut down the terminal and concentrated on my other jobs. Overtrading is bad - stick to your trading plan!

that's basically it.
Stay green ppl and have a great day!
  • #5
  • Mar 16, 2018 5:35am Mar 16, 2018 5:35am
Quoting mastaflippa
Hi guys, I was never a patient person in terms of trading . The trading system I was using (classic PA - fibs, S&R, TLs, candle pattern confirmations, and sentiment) for 4 years is profitable, in fact it is able to provide good 5% gain each month. But the problem is, I was never patient enough to compound on these gains and rather would withdraw due to some reasons. Thus, this journal is aimed to develop myself in terms of discipline and persistence. The system I am going to use is described here....

Go for it, all the best
SEE LINE,TRADE LINE..PRICE HAS TO GO SOMEWHERE,,, PRICE WILL GO SOMEWHERE.
  • #6
  • Last Post: Mar 16, 2018 6:21am Mar 16, 2018 6:21am
Quoting billytt
{quote} Go for it, all the best
thanks Bill, I reciprocate
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