Read the section on emotional intelligence again
and then study and practice the priority quadrants.
Hint: You must never enter a trade in urgency, only when it is important.
Hmm, how to deal with emotions huh? Thats a topic.
Beeing profitable wont help that much you since you can get greedy and burn easily.
Beeing successfull in other aspects of life seems working.
Studying psychology seems working a lot for me. Read some book about ego and crowd behaviour. There are minor articles about it in almost every "how to trade book".
I have it easy, my parents divorced when I was 10 so I run out of emotions back then and grow up as cold blooded bastard. But I enjoy beeing cynical. I find it kinda funny.
T.
oops!!! Seems like i've made you to go to the past. Sorry for that my frnd
No need to sorry to me. You can even insult me and if it is going to amuse others, point for you. I may send you to hell, but in fact I dont care. And then PT places ban on both of us.
You know, you are just perfectly defining what i do. Like,
Trade in urgency, Always on a position with no reason, impatient for the market to come to me ....
Seems like many have got these problems initially
"do not HAVE to always be in a trade to make money" : that is the point. My greatest mistake. I will make an entry once i open my system. The maximum i can hold is an hour. But i have improved a lot in that.
And one more i does: enter more than one order. I mean, if i short AUDUSD, I would long GBPAUD at the same time eventhough i know that spread is higher. Will that be a good idea???
Actually i didn't want to do that. I wanted myself to be in ONE POSITION AT A TIME.
Trades are like little children.
The market is like an alligator ready to snap up whatever it can.
Would you rather supervise one child in an alligator park or several children?
Okay I am slightly deviating from my EUR/USD exclusivity.
I have created a sell limit order on EUR/JPY
I feel this trade may be a bit risky due to possible BOJ intervention but I am banking on the very high probability that they would intervene by purchasing USDs and not EURs. On top of that, they already blew their load last week so they will not be ready to do it again any time soon... maybe sometime in December.
Here's the plan....
Entry: 104.69
Stop Loss: 107.00 (I may move this as new developments arise)
Take Profit: Open with long term...
Trades are like little children.
The market is like an alligator ready to snap up whatever it can.
Would you rather supervise one child in an alligator park or several children?
