GZ UPDATE +140pips so far
Been trading the method outlined in Post#1 this week with a Micro account and so far pretty good. I'm only trading the 4H and Daily with upper time frame confirmation (4H -> Daily & Daily -> Weekly). I work full time so this strategy is perfect for me since I can only look at the charts a few times during the New York session.
- #4,985
- Apr 29, 2020 8:33am Apr 29, 2020 8:33am
Been trading the method outlined in Post#1 this week with a Micro account and so far pretty good. I'm only trading the 4H and Daily with upper time frame confirmation (4H -> Daily & Daily -> Weekly). I work full time so this strategy is perfect for me since I can only look at the charts a few times during the New York session. {image}
- #4,986
- Apr 29, 2020 8:37am Apr 29, 2020 8:37am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,756 Posts | Online Now
Always a Student, Never a Master - Emulate What Works
- #4,991
- Apr 29, 2020 9:24am Apr 29, 2020 9:24am
Two more trades today. I like to day trade E/U.{image}
- #4,993
- Edited 11:24am Apr 29, 2020 10:05am | Edited 11:24am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,756 Posts | Online Now
{quote} Some times I just get easily scared and get out because there are times that my pips goes back to the market. I have problem following rules but I'm working on it.
Here are 3 of his quotes regarding staying with a position:
“After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: it never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight!"
“It is no trick at all to be right on the market,” he adds. “I’ve known many [traders] who were right at exactly the right time, and began buying or selling stocks when prices were at the very level that should show the greatest profit. And their experience invariably matched mine; that is, they made no real money out of it.[Traders] who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make the big money.”
“AS LONG AS A STOCK IS ACTING RIGHT, AND THE MARKET IS RIGHT, DO NOT BE IN A HURRY TO TAKE PROFITS”
Always a Student, Never a Master - Emulate What Works
- #4,994
- Apr 29, 2020 10:07am Apr 29, 2020 10:07am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,756 Posts | Online Now
Just closed this one for 38 pips {image}
Always a Student, Never a Master - Emulate What Works
{quote} I'm in that same trade, but I can't see any reason to get out. {image}
That's very wonderful
40 pips for M15 and there is no sign of stopping yet. That's always been my wish on the 15 minute time frame. I usually get scared when being 20 pips me out
- #4,996
- Apr 29, 2020 10:30am Apr 29, 2020 10:30am
{quote} I'm in that same trade, but I can't see any reason to get out. {image}
Thanks for the book, I will certainly read it.
- #4,997
- Apr 29, 2020 10:34am Apr 29, 2020 10:34am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,756 Posts | Online Now
{quote} Wow That's very wonderful 40 pips for M15 and there is no sign of stopping yet. That's always been my wish on the 15 minute time frame. I usually get scared when being 20 pips me out
Otherwise, on a 15 minute chart I would have gotten out long ago with about 25 pips profit.
Always a Student, Never a Master - Emulate What Works
- #4,998
- Apr 29, 2020 10:49am Apr 29, 2020 10:49am
- Joined Jul 2009 | Status: Trade What U See Not What You Think | 1,756 Posts | Online Now
{quote} Yeah, you're right. I'm a chicken. You see I've been trading for less than a month now after 8 years of absence. I think I'll get better soon. The thing is I'm having so many problems these days and I can't really focus on something, my brain is not there 100%. I'm just happy that I have something to do and I'm not blowing the account.
You have to be willing to possibly lose your bait over and over, until eventually you catch a big fish. If you exit too soon, you'll never catch a big fish.
I just had a trade on the GBPJPY where I made over 600 pips.
The worst problem most traders have is that they "Eat like a bird and sh*t like an elephant".
I always "try" to do just the opposite. The way you learn to do that is to trade so small while you are learning to trade that way, that the position doesn't affect you mentally no matter whether it wins or loses.
Eventually, you will get to where you can trade bigger and bigger without being scared out of a trade.
Imagine being a professional baseball player, hit 3 out of 10 and you're a rock star. It's the same with trading.
Plus, you must become like a professional airline pilot...learn to fly ONLY by the instruments.
Always a Student, Never a Master - Emulate What Works
- #5,000
- Apr 29, 2020 11:05am Apr 29, 2020 11:05am
{quote} You have to adopt the mindset that trading is like fishing. You have to be willing to possibly lose your bait over and over, until eventually you catch a big fish. If you exit too soon, you'll never catch a big fish. I just had a trade on the GBPJPY where I made over 600 pips. The worst problem most traders have is that they "Eat like a bird and sh*t like an elephant". I always "try" to do just the opposite. The way you learn to do that is to trade so small while you are learning to trade that way, that the position doesn't affect you no...
