Disliked{quote} If I gave you a book on Mixed Martial arts and told you to fight in the UFC next week. What do you think would happen? The easiest way to explain is. You have still got to use your head...even with all the hours of back testing and books. If you were in a trade 2 pips off just before I get the blood out the fridge(NEWS)... What would you do?Ignored
That's why I am so against of myself manually exiting any trades and just let it run its course. Situation like yesterday is quite rare I would say (nearly hitting TP then go back all the way to SL), but it happens sometimes, right now my temporary solution for that is to move SL to breakeven if already 90% TP, if it's meant to be, the 90% will push to 100% anyway, but if it is not, at least I don't go from 95% all the way to hitting full SL.
I try to minimize subjective judgement to prevent over-analyze and messing up my trades, which I did before I stabilized, it do me more harm than good, entering exiting multiple times because the market keep giving mixed signals. I need to pick a side and stick to it. Of course I am not totally turning off my head, 10% of the time I trade without the rules, but based on simple support/resistance method when market is ranging, this is where I use judgement and draw the S/R areas to trade, I go back to my rules when the market is trending again.
Road to retirement before 30, GBPUSD only, Daily only.
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