DislikedI woould like to share my lesson learned from one of my last trades. I entered on the first red vertical line. My TP was at the longer white horizontal line. the second entry would have been at the second red vertical line with the same TP. I could not follow the position and the price turneda and as soon as I could get to my terminal I had to close it manually. It missed the TP by 12 pips.
My lesson learned is: you should follow your position. I know this is very basic, even then... Fortunatelly it as on demo account.
thraxIgnored
Thank you for sharing your trade.
I think trading success is a lot more to do with trade management than with trade entries.
My mentor always empshize to me that it is how we manage our exits that will determine how much profits we make out of the market. So far my trading exeperience prove that he is correct that I fosuc more into trade managemenet methods and this also work into how I manage my own trading psychology.
I took a few trades on lower TF on the same 2 days but I did not use S3 method. I am testing a M15 method using a different money management strategy. This is for ranging market type and to capture profits using the inital R with mutliple entries and multiple exits.
Attached is my trade chart showing the entries and exits. This is not S3 method but I will soon include the M15 entry method and share this.
Think of how you want to manage your trades and write these down on paper and on charts.
Trade Well.
Attached Image (click to enlarge)
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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