Good day to you all,
First and foremost - glad to have found this thread. Trading can be a lonely path and finding a group of individuals sharing the same passion, does go a long way in making it better.
Again, I have witnessed some incredible insight shared by so many individuals. Skilled traders. Working from 1m timeframes to Daily. When I started, I felt comfortable with the 5min charts. My reasoning was: that the 5min charts would allow me to be trading at any time I had an opportunity to do so. Things would happen "quicker". Trading these charts, I would end up having as many as 12 to 15 winning trades in a row. But all for small returns. 5 to 10 pips. Then - ONE bad trade. Not cutting my loss and "hoping" that this thing would turn. All gone!... And then some.
I am seeming to find my home now with the 15min and 30 min charts, but has learned to also consider 1hr/4hr.
In hindsight, this market looks easy-peasy. Looking at charts in retrospect, there are so many "would haves" and "could haves" - it is scary.
So - notes to self this week:
First and foremost - glad to have found this thread. Trading can be a lonely path and finding a group of individuals sharing the same passion, does go a long way in making it better.
Again, I have witnessed some incredible insight shared by so many individuals. Skilled traders. Working from 1m timeframes to Daily. When I started, I felt comfortable with the 5min charts. My reasoning was: that the 5min charts would allow me to be trading at any time I had an opportunity to do so. Things would happen "quicker". Trading these charts, I would end up having as many as 12 to 15 winning trades in a row. But all for small returns. 5 to 10 pips. Then - ONE bad trade. Not cutting my loss and "hoping" that this thing would turn. All gone!... And then some.
I am seeming to find my home now with the 15min and 30 min charts, but has learned to also consider 1hr/4hr.
In hindsight, this market looks easy-peasy. Looking at charts in retrospect, there are so many "would haves" and "could haves" - it is scary.
So - notes to self this week:
- Consider all viewpoints - but ultimately make your own call, based on sound personal analysis with a plan YOU consider sound and are comfortable with.
- Never, Ever chase price. It will come to you.
- This market can change from obviously Bullish to obviously Bearish within an hour. Be like water. Be open to change your view in an instant. There is no roof. There is no floor.
- Do not change your strategy. Trade the DAMN thing. Over and Over.
- Take note of interim warnings from experienced forum members. There is defenite value in these. They have been there, done that.
- Patience is a virtue. Snipe. Take your time. Wait. Go in - kill. Get out.
I can not mention each individual by name. You have enriched my life. Many of you.
Last, but not least - if you make a mistake and you learn from it, it counts as experience. If you make the same mistake twice, you are stupid.
My highest regards to you all
Trade well
