I am going to print this thread, bind it and have it by my side whenever I trade.
Not only has your wisdom and advice been a great read, it has also changed my perception of the markets. My only issue is capital. I cannot afford 300 pip 'sloppy entries' at present as it would wipe my capital out. But I feel I can transfer some of your methods into my daily trading until my capital is such that I can take a longer term view. I have also changed my view on T.P. I am constantly looking at my trades to see if they line up with weekly/daily...Ignored
Thank you for such a overwhelming feedback.
It has been my pleasure.
May I add, poor entries is the very reason traders face unneccesary drawdowns and losses. It is the area where most traders will fail. Nobody should allow/accept/even consider a 300 pip loss from sloppy entries. That is not the work of a professional trader. Professional traders should be able to whip the fly off his horses ears while on the reins.
The exercise will show your inner traits as a trader. I wouldnt be surprised if people find that they cant even hit x3 20 take profits everyday with ease. It will be a surprise to most.
After 6 months you will be able to hit x3 20 take profits so much easier and clearer. And this will be just the beginning of your accomplished insights.
With that much upskill you will be able to turn $300 or even less into many thousands more with relative ease as you can control/know your real risks from your optimum entry which has stacked odds onto your side by entering at the perfect opportunity given. You will also have complete understanding of market sentiments and can describe in great details. You wont even know how you came that far.
Dont be surprised that you just became a profitable trader.
Thank you again