Many thanks for the reply, my version, so far, of this trading style could be summed up as follows: nibble away with small TPs on the way up/down, stay close to the action so when the reversal comes you can use your averages (reverse trades that you left behind) to clear any negative balances and make further profits or get back to BE. I was wondering why you took such small profits so early, but when trading live I realised the closer to the top/bottom of any reversal you are, the quicker you get to clear any drawdown.
My biggest problem has been finding the best way deal with having to leave the screen at short notice (I cancel any TPs and leave a tight hedge order) and dealing with with the results of the hedge when I return. So far I’ve found the best thing is to wait until price moves either side of the hedge then carry on in that direction. It’s a good challenge getting out of the hedge results and have found I can improve any situation in stages when I get the chance to trade.
Not sure I’ll be able to post live trades yet as it takes quite a bit just to concentrate on what I’m doing but will maybe try once I’m 100% through the self-doubt stage.
Great advice so far, I think all we need is price to continue going in completely random and unpredictable directions
Still learning/developing but grew my live account by 0.75% last week.
My biggest problem has been finding the best way deal with having to leave the screen at short notice (I cancel any TPs and leave a tight hedge order) and dealing with with the results of the hedge when I return. So far I’ve found the best thing is to wait until price moves either side of the hedge then carry on in that direction. It’s a good challenge getting out of the hedge results and have found I can improve any situation in stages when I get the chance to trade.
Not sure I’ll be able to post live trades yet as it takes quite a bit just to concentrate on what I’m doing but will maybe try once I’m 100% through the self-doubt stage.
Great advice so far, I think all we need is price to continue going in completely random and unpredictable directions
Still learning/developing but grew my live account by 0.75% last week.
Sounds like a lot of screen time to me.
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