Tried several times, but failed to wait and wait for mega trend. Maybe I need to change,maybe I need to have easier job or jobs...
In weekends and around NY close I am looking at charts for what happent today and what events are tomorrow. Next day morning, mostly before London open Iam trying to catch a few pips and I am going to work. At workplace sometimes I can permit 5-15 min, but mostly not, just watching the news results and if I find I should enter than I will. It is just to much happening to take a 100 pip SL and trade for other 200 pip. This would suggest those mega trends, but I do not understand the financial language what those are saying, so I really can't trade almost only fundamentals in megatrends. I know, and I see the trend changes are when the ECB and FED! So I have decided to scalp for 5-50 pips, mostly 10 pip is the target. It is based on support-resistance, news effect, pivot points. This meets my lifestyle and I feel good with this trades, maybe once it will change it.
period
My trader idol is/was Jesse Livermore and I know once Chicky tried to implements his trading methods in forex. it was very interesting for me. Forexsaint too scalped with crazy leverage and for 3-8 pips and it had very nice results, for a few month.
This is pure psychology, but:
I feel bad if I don't make +20% / month, it means I haven't watched the marked and didn't took the opportunities which was given. Even with 10:1 leverage I did +11% in a week (while I have waited to real money to come to live account).
Above +50% / month it is a warning for me: "with luck and leverage everything is possible" For me 100% / month isn't normal, that is clear sign: it was to much luck ( and maybe next time will be bad-luck) or to much leverage. Usually 3 consecutive month can't be done with +100% each, or must be luck
For me this are the expectations and this can't be achieved with lovering the leverage to 0.01:1, just to not have a fail trade.
In weekends and around NY close I am looking at charts for what happent today and what events are tomorrow. Next day morning, mostly before London open Iam trying to catch a few pips and I am going to work. At workplace sometimes I can permit 5-15 min, but mostly not, just watching the news results and if I find I should enter than I will. It is just to much happening to take a 100 pip SL and trade for other 200 pip. This would suggest those mega trends, but I do not understand the financial language what those are saying, so I really can't trade almost only fundamentals in megatrends. I know, and I see the trend changes are when the ECB and FED! So I have decided to scalp for 5-50 pips, mostly 10 pip is the target. It is based on support-resistance, news effect, pivot points. This meets my lifestyle and I feel good with this trades, maybe once it will change it.
period
My trader idol is/was Jesse Livermore and I know once Chicky tried to implements his trading methods in forex. it was very interesting for me. Forexsaint too scalped with crazy leverage and for 3-8 pips and it had very nice results, for a few month.
This is pure psychology, but:
I feel bad if I don't make +20% / month, it means I haven't watched the marked and didn't took the opportunities which was given. Even with 10:1 leverage I did +11% in a week (while I have waited to real money to come to live account).
Above +50% / month it is a warning for me: "with luck and leverage everything is possible" For me 100% / month isn't normal, that is clear sign: it was to much luck ( and maybe next time will be bad-luck) or to much leverage. Usually 3 consecutive month can't be done with +100% each, or must be luck
For me this are the expectations and this can't be achieved with lovering the leverage to 0.01:1, just to not have a fail trade.
I want to buy PATIENCE
