I've blown my share of micro accounts looking for answers and waiting for my skills to catch up to reality...the blood, sweat and tears it takes to get anywhere near expert level at technical analysis/short term trading/mindset is truly sickening...this is why only 1 percent make it...people who excel are able to blend science and art, make big plays and salvage bad situations that wilt most normal traders...
You cannot continuously keep laying down and dying at the first sign of trouble and setting so many rigid fairy tale parameters in this world of savage killers with billion dollar accounts...why would you ever think your basic, obvious tactics and timelines would ever survive first contact with this expert enemy?
Anytime i start building a position and it immediately takes off in my favor i usually assume something is wrong and will begin unwinding and wait for a better spot to dig in...i almost never add to winners unless i'm already well dug in and very deep in profits anticipating a final surge...being able to manage leverage and many small positions is the most powerful thing in forex for a daytrader/scalper...it is also one of the most complex.
Placing one monster lot with a 10 pip stop etc is one of the dumbest and laziest things you can do unless your accuracy and timing is off the charts..many times you cannot see the way until you are in the thick of it and begin assimilating all current factors and deciding how big of a fight you are willing to put up....but rest assured... if you want huge gains, there will usually be a big fight to get them
You cannot continuously keep laying down and dying at the first sign of trouble and setting so many rigid fairy tale parameters in this world of savage killers with billion dollar accounts...why would you ever think your basic, obvious tactics and timelines would ever survive first contact with this expert enemy?
Anytime i start building a position and it immediately takes off in my favor i usually assume something is wrong and will begin unwinding and wait for a better spot to dig in...i almost never add to winners unless i'm already well dug in and very deep in profits anticipating a final surge...being able to manage leverage and many small positions is the most powerful thing in forex for a daytrader/scalper...it is also one of the most complex.
Placing one monster lot with a 10 pip stop etc is one of the dumbest and laziest things you can do unless your accuracy and timing is off the charts..many times you cannot see the way until you are in the thick of it and begin assimilating all current factors and deciding how big of a fight you are willing to put up....but rest assured... if you want huge gains, there will usually be a big fight to get them