Hello, Everyone
As I said before, I'm also learning James trading method, but now I found myself in dilemma and thinking of changing my rules.
When I jumped from demo to live (after more than 3 profitable months) I was trading quite often. Like 2-5 trades per week (4h-monthly).
There where bad trades, good trades, but all in all a minus in profit space.
I was looking at my looses as normal thing, because I knew they where cause of uncontrolled emotions. Also, I can say I used most conservative way.
But the more trades I lost, I was feeling bad and making my rules more strict. Only great formation and the best space to get me in...
So what happened next? Well, now it's more than 2 months how I haven't opened a position. And I check my charts every day.
It's not like there weren't any setups that would suite me. There where like 2 or 3. But I was not on PC when they formed.
So, I think I need to change my style, because I became so strict that I don't even trade. And I'm getting convinced to do it not so conservatively. Etc. to take setups with less confluence, but to put SL not above/below the pattern, but under confluence level (as I saw some of you do).
For example (chart attached) in similar situation I would put SL not below the DBLHC of U/C, but under the BRN 1.0000.
Well, that’s experience I wanted to share. Would be glad if someone could add anything
Thank you for your time,
And here goes a joke:
Guy comes back home. His father – trader asks sitting in front of computer:
- Where have you been, son?
- In the Army, dad.
As I said before, I'm also learning James trading method, but now I found myself in dilemma and thinking of changing my rules.
When I jumped from demo to live (after more than 3 profitable months) I was trading quite often. Like 2-5 trades per week (4h-monthly).
There where bad trades, good trades, but all in all a minus in profit space.
I was looking at my looses as normal thing, because I knew they where cause of uncontrolled emotions. Also, I can say I used most conservative way.
But the more trades I lost, I was feeling bad and making my rules more strict. Only great formation and the best space to get me in...
So what happened next? Well, now it's more than 2 months how I haven't opened a position. And I check my charts every day.
It's not like there weren't any setups that would suite me. There where like 2 or 3. But I was not on PC when they formed.
So, I think I need to change my style, because I became so strict that I don't even trade. And I'm getting convinced to do it not so conservatively. Etc. to take setups with less confluence, but to put SL not above/below the pattern, but under confluence level (as I saw some of you do).
For example (chart attached) in similar situation I would put SL not below the DBLHC of U/C, but under the BRN 1.0000.
Well, that’s experience I wanted to share. Would be glad if someone could add anything
Thank you for your time,
And here goes a joke:
Guy comes back home. His father – trader asks sitting in front of computer:
- Where have you been, son?
- In the Army, dad.
