zerolag MACD

Working on 2 main weaknesses.
1. calculating risk properly before entering the trade and honoring the stop.
2. trading only at designated market times. Being able to just get up from the trading desk when the time is through.

Well Problem 1 souds very familliar to me , and it helped me a lot to "outsource" such things to an "EA"(iam not using MT) , thats a part(risk calculating, respecting TP and SL ) machines are the far better humans

Maybe you should try one of those TM EA´s

Iam scalping and looking for intraday swings , so maybe we use(have to use) different kind of moneymangement , but for example i always letting the risk calculated according to my emergency stop and not the stops i actualy use most of the time, cos they differ kinda much

The computer always sets the emergency stop and i change by hand if neccessery , but never wider of course, secound thing is that since iam looking for swings too, i always set a scalping _TP which takes out half position and moves stop top BE , and then i just move SL till i get stoped out so iam not realy using fixed TP´s.

That might be different to your approach but automation is quite good to fix the inssuficent human discipline .

Of course there will be a mental poblem when the EA executes the stop in a loss making postion specialy when this happens a few times in a row , but the trade finaly moves in your favor , but if your genereally sure about your riskmanagement never never never widen your stops , the recklessness of the ea will turn out to be better in the long run, then your hopes that the trade will turn at some point in your favor

I know ist all very simple, and basicly everyone knows that , but far less realy following strict daytrading risk management

This is the worst thing that can happen when trading..
To widen the stop and sit there hoping it turns around in my favor.
Sometimes it might turn in my favor but that is actually bad. Since then I get the idea that it is okay to do like that. But it is bad bad bad strategy.
The 5 times it turns in my favor is very nice. But the one time it doesn't is disaster, wipes out the 5 times plus everything else too.

Like stealing, get away with a little thing and then the stealing mentality becomes fixed. Steal bigger and bigger things and the one time get caught it's all over...

So I see it is not merely a matter of discipline it is a matter of honesty and I never thought of it that way before.
The psychology of it is I don't want to admit that I got it wrong. The not honoring the stop is cheating.
If I wait for it turn around and it does, the mentality is I cheated and I got away with it. Like stealing.
So it is a matter of honesty.

Boy these lessons are hard earned (and well paid for).

Thank you for the heads up on an ea that will manage the stops. I will look into it.
Can you post one you use?
Thanks in advance and thanks for taking the time to comment...

I like the "close one for profit and let the other one run with stop near break even" strategy.
I have used it before but not for scalping.
What would your 1st take profit be?

On the move. Moved again.
http://www.forexfactory.com/showthre...17#post4688417