I think money management and confidence is a big part. When you are new to trading you want a 100% win ratio with zero losses and a perfect system. We keep scrolling back on the chart looking for how we can avoid loss , or stay out of range conditions .
Then you progress to keep looking for a winning system , while the real guys are trading a system with say 80% win and making money every month while the amateur keeps on looking for rge holy grail. Accept loss but keep it small , 1:3 ratio is great but scrolling back on the charts , there are some really good swings each week that we wish we took the chance to get in on entry. Trail the stop or keep on moving your stop up to preserve pips. Make it risk free and take some pressure off yourself and move stop to break even once your in profit , so you simply can’t loose a dime. USA traders with regulated brokers such as forex.com it Oanda can enter say 3 trades on one good signal, taking profit along the way. So for example don’t enter one .1 lot , in its place enter Three .03 lots and do 3 TP levels , but due to regulation all the stop loss has to be set the same on all the small lots so manually closing each is necessary along the way.
TMS Multi time frame tape that I attached in prior post appears to minimize drawdown and wait on entry for h4 to when the daily is also in the same direction. And it seems when D1 is in agreement , the trend lasts longer on H4 to catch a good swing.
Multiple confluences can only lead to more confidence in making reason to enter a trade and let it ride out.
Look forward to the upcoming week. It would also be a confidence booster and training tool for everyone to get real time trading setups/signals based on this nice and easy going 4h system. Telegram chat channel for quicker communications might be a smart idea at some point. Let’s go get some pips from the brokers this week , stress free and easy. Enjoy your life, friends and family, we do not have to be glued to the PC screen !!!!
Then you progress to keep looking for a winning system , while the real guys are trading a system with say 80% win and making money every month while the amateur keeps on looking for rge holy grail. Accept loss but keep it small , 1:3 ratio is great but scrolling back on the charts , there are some really good swings each week that we wish we took the chance to get in on entry. Trail the stop or keep on moving your stop up to preserve pips. Make it risk free and take some pressure off yourself and move stop to break even once your in profit , so you simply can’t loose a dime. USA traders with regulated brokers such as forex.com it Oanda can enter say 3 trades on one good signal, taking profit along the way. So for example don’t enter one .1 lot , in its place enter Three .03 lots and do 3 TP levels , but due to regulation all the stop loss has to be set the same on all the small lots so manually closing each is necessary along the way.
TMS Multi time frame tape that I attached in prior post appears to minimize drawdown and wait on entry for h4 to when the daily is also in the same direction. And it seems when D1 is in agreement , the trend lasts longer on H4 to catch a good swing.
Multiple confluences can only lead to more confidence in making reason to enter a trade and let it ride out.
Look forward to the upcoming week. It would also be a confidence booster and training tool for everyone to get real time trading setups/signals based on this nice and easy going 4h system. Telegram chat channel for quicker communications might be a smart idea at some point. Let’s go get some pips from the brokers this week , stress free and easy. Enjoy your life, friends and family, we do not have to be glued to the PC screen !!!!
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