You work hard at your PC in your day job,you may not like the boss where you work but love the work..
Trading is fun and ifectious but dont replace one 10 hour day job with another albeit hopefuly better paying.
I know I keep saying 'I know' but I know traders who trade 12 hours a day make great return on thier account but live miserable lives
making apple pie is a good move.. 30 pips a day risk no more than 5% on any one trade double contracts when your account doubles boring but safe ..do the spread sheet see how much you will be on in 1 yr then 5 yrs
No need to rush your young the market will always be there..
Systems do have draw downs when I 1st posted my EOD system I was getting mails about the great returns in the 1st 3 month next 2 months were tough..ANY system will have flat times bad times what we need is luck..you need luck I need luck ...eg..you need luck that when you go from 0.1 to 1 lot ( a 10 fold increase gulp) you dont get a run of 3-4 losers because that statistic is out there in the 4 trades you could lose your gain on your original account...
Stay cautious stay focused learn to walk away dont beat your self up if 10 mins after you close down the market went another 50 pips your way..
Read the thread above. TG wrote that no yelow bars in MTF indi because MQL support only 8 buffers of color. She choosen the 4 TF and 2 colours (8 buffers) versus 2 TF and 3 colours (6 buffers), where (and because) the yellow on the higher TF hasn't a reason.
Ignored
Missed that entirely, still early in Los Angeles,thanks.
Exit strategy? I am simply closing after the firtst candle that closes on the other side of the Magic Trend line, see attached. If I think it will keep moving, I just close half my position, set stop loss to break even and let it ride.
Attached Image (click to enlarge)
Pips are like cabbage, the green ones are the tastiest!
I am looking at 15 min TF while scalping the M1, i know its risky for counter trend, but i am risking only 0.1 lot per trade for every 2K i have , so am able to take the drawdown to max 30 pips SL. I did not want to trade on demo, so as to see how i can perform when i take the signals as it comes on chart. I wait for qqe and lag to show direction before taking a trade
