Elsaloon / cesarnc / Gents,
This my methodology only. YOU must find yours.
First decide your demo or live account balance - I have stated many times use a small startup Balance as this will help you with Discipline - I use 10 to 15 usd every week for the wife, its hard but a worthy challenge.
My SL is 50% of the Balance - so 10 usd Balance equals 5 usd SL. You decide your SL.
I open one 0.01 Lot size trade when I do open and never add to this position. So if I make a entry mistake I can either (1) close the trade quickly (2) or let it run to my defined SL (50%). I earn my profit the old way and I learn from my mistakes and today my performance is above 95% win to loss ratio due to this commitment.
I repeat this trading philosophy every trade until I double the Balance, its hard but this method builds character and discipline. Go slow and build success by Performance. Your initial performance target is 50%, then 60% etc. over time and trades (Journal all trades and validate your errors) - YOUR ERRORS.
Managing the trade is watching the HA Candle Body and Wick sizes, open any HA Candle Chart and look for the length of the Body and Wicks, don't walk away after a trade is open and come back saddened because of a loss, YOU must learn to Seee and FEEL The Market, every day is a different story and each Pair is a different personality, no two Pairs are the same, so focus and feel.
You will see this methodology does work if patience is applied with discipline, this is NOT a quick rich scheme. This makes you really plan your trades according to the Rules. Every trade is YOUR Business decision.
Most traders ignore the above and fail over 95% and every European Broker has to report the loss ratio every quarter and even your Broker knows this factual statistic of every trader.
This my methodology only. YOU must find yours.
First decide your demo or live account balance - I have stated many times use a small startup Balance as this will help you with Discipline - I use 10 to 15 usd every week for the wife, its hard but a worthy challenge.
My SL is 50% of the Balance - so 10 usd Balance equals 5 usd SL. You decide your SL.
I open one 0.01 Lot size trade when I do open and never add to this position. So if I make a entry mistake I can either (1) close the trade quickly (2) or let it run to my defined SL (50%). I earn my profit the old way and I learn from my mistakes and today my performance is above 95% win to loss ratio due to this commitment.
I repeat this trading philosophy every trade until I double the Balance, its hard but this method builds character and discipline. Go slow and build success by Performance. Your initial performance target is 50%, then 60% etc. over time and trades (Journal all trades and validate your errors) - YOUR ERRORS.
Managing the trade is watching the HA Candle Body and Wick sizes, open any HA Candle Chart and look for the length of the Body and Wicks, don't walk away after a trade is open and come back saddened because of a loss, YOU must learn to Seee and FEEL The Market, every day is a different story and each Pair is a different personality, no two Pairs are the same, so focus and feel.
You will see this methodology does work if patience is applied with discipline, this is NOT a quick rich scheme. This makes you really plan your trades according to the Rules. Every trade is YOUR Business decision.
Most traders ignore the above and fail over 95% and every European Broker has to report the loss ratio every quarter and even your Broker knows this factual statistic of every trader.
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