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Trading Made Simple(r)

  • Post #7,981
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  • Edited May 25, 12:06pm May 25, 11:49am (10 hr ago) | Edited May 25, 12:06pm
Quoting Polimini
I got very good with this method, 5 green out of 6 today. But man do i suck at getting out. My problem is i can't be monitoring it 24/7 so i usually just do SL and TP (simetric), most of the time i leave money in the table. On the other side i'm leaving with 3, 4 and 5% profit and should probably just be happy. I'm just doing M15 trades (i look at H1, H4, M30 for the perfect setup) but i time the ins and outs in M15. I don't think i have the discipline, to follow higher trends, yet. Any tips to make the process of getting out more polished?
Since you cannot monitor markets 24/7 and what you are doing is working really well, the easiest thing to do is to start trading a higher time frame which will make the SL and the TP higher. Making 3, 4, and 5% profit is nothing to be ashamed of. Quite the contrary.
Always a Student, Never a Master - Emulate What Works
Quoting RobinHood
{quote} Since you cannot monitor markets 24/7 and what you are doing is working really well, the easiest thing to do is to start trading a higher time frame which will make the SL and the TP higher. Making 3, 4, and 5% profit is nothing to be ashamed of. Quite the contrary.
I figure that out, but the risk increases a lot, you have to put the SL many dollars behind you. I will continue to improve so i can go do that next step. Thanks.
  • Post #7,983
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  • Last Post: May 25, 2:30pm (8 hr ago) May 25, 2:30pm (8 hr ago)
Quoting Polimini
{quote} I figure that out, but the risk increases a lot, you have to put the SL many dollars behind you. I will continue to improve so i can go do that next step. Thanks.
Actually, the risk does not have to increase, just trade smaller so the risk remains about the same.

If you trade 10 units at $1/unit or you trade 1 unit at $10/unit it's just the same thing.

So you CAN increase the time frame without increasing your risk amount by trading less units.
Always a Student, Never a Master - Emulate What Works
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