There are the 5 steps in trader evolution:
Step One: Unconscious Incompetence.
Step Two - Conscious Incompetence
Step 3 - The Eureka Moment
Step 4 - Conscious Competence
Step Five - Unconscious Competence
Hopefully I have reached the step 3:
"You start to take every trade that your 'edge' shows has a good probability of winning with. When the trade turns bad you don't get angry or even because you know in your head that as you couldn't possibly predict it it isn't your fault - as soon as you realise that the trade is bad you close it . The next trade or the one after it or the one after that will have higher odds of success because you know your system works.
You stop looking at trading results from a trade-to-trade perspective and start to look at weekly figures knowing that one bad trade does not a poor system make."
But ... but I have 3 loosing trades in a row, 1 open and 1 order pending and is coming the week-end
From 100 trades I had like 2-4 times consecutive loss before this.
My system use a SL now. Maybe is to close now? Or the daily news has more impact than expected?
GPB had a little positive news at 11:30 my time.
USD at 15:15 major news ( I was offline ) - but went in direction what I have expected.
USD was moved by Phily at 15:00 to SL, it was on profit before he become a loss. Bad
75 pip SL should be enough, shit happens 6% risk sometimes good, sometimes not. If the edge has the probability of 53% win and 47% loss, than this is the optimal mathematically!
It seems I have used to tight SL. good or bad, idk... at 5:00 wasn't any event, why was that up bar... idk... Atfer SL hit it would have a profit but now it would have a bigger loss. Neutral.
Usd/Jpy was closed by SL at 15:30 news. 40 pip SL wasn't enough with 50 it would survived and it would have a profit now. Bad.
Some daily charts: -on those I wanted to catch around 200-400 pips!
Gpb should go down now:
Eur should go down soon:
Usd/jpy down
Was to tight the SL and to high the leverage or just big number laws?
Open Eur/Jpy trade:
And his daily chart: You have reached the maximum number of attachments allowed per post.
If I would play as old scalper style and watch the news results at 15:30 and 17:00 than I would close trade sand open for correct direction.
Probably could be 20 pip in pocket, if not 80
Step One: Unconscious Incompetence.
Step Two - Conscious Incompetence
Step 3 - The Eureka Moment
Step 4 - Conscious Competence
Step Five - Unconscious Competence
Hopefully I have reached the step 3:
"You start to take every trade that your 'edge' shows has a good probability of winning with. When the trade turns bad you don't get angry or even because you know in your head that as you couldn't possibly predict it it isn't your fault - as soon as you realise that the trade is bad you close it . The next trade or the one after it or the one after that will have higher odds of success because you know your system works.
You stop looking at trading results from a trade-to-trade perspective and start to look at weekly figures knowing that one bad trade does not a poor system make."
But ... but I have 3 loosing trades in a row, 1 open and 1 order pending and is coming the week-end
From 100 trades I had like 2-4 times consecutive loss before this.
My system use a SL now. Maybe is to close now? Or the daily news has more impact than expected?
GPB had a little positive news at 11:30 my time.
USD at 15:15 major news ( I was offline ) - but went in direction what I have expected.
Attached Image
USD was moved by Phily at 15:00 to SL, it was on profit before he become a loss. Bad
75 pip SL should be enough, shit happens 6% risk sometimes good, sometimes not. If the edge has the probability of 53% win and 47% loss, than this is the optimal mathematically!
It seems I have used to tight SL. good or bad, idk... at 5:00 wasn't any event, why was that up bar... idk... Atfer SL hit it would have a profit but now it would have a bigger loss. Neutral.
Usd/Jpy was closed by SL at 15:30 news. 40 pip SL wasn't enough with 50 it would survived and it would have a profit now. Bad.
Some daily charts: -on those I wanted to catch around 200-400 pips!
Gpb should go down now:
Attached Image
Eur should go down soon:
Attached Image
Usd/jpy down
Attached Image
Was to tight the SL and to high the leverage or just big number laws?
Open Eur/Jpy trade:
And his daily chart: You have reached the maximum number of attachments allowed per post.
If I would play as old scalper style and watch the news results at 15:30 and 17:00 than I would close trade sand open for correct direction.
Probably could be 20 pip in pocket, if not 80
Attached File(s)
5steps.pdf
42 KB
|
197 downloads
I want to buy PATIENCE