Hey guys, good to see you back in the thread. I know I stopped a while back as most seemed to stop posting so I decided to concentrate on mastering this trading style.
I am getting better, have not zeroed my account again but I am treading water for the last month really.
Week before last I had a bad week and lost a load (dropped my account from about £250 to £37, oops!!). I only have a small amount in the account as not worth putting too much money into it whilst learning. This means my money management is aggressive, so at that point I was trading with £2 a pip and made a load of bad calls in a day.
I am still learning to stop the rot on these days and step away so will get there. I am in the process of identifying patterns in my own behavior and when I start to lose. It can often be impacted by my mood or it is easy to lose a little control after a couple of bad trades. I am learning to get better with this though. Yesterday for example, I could have lost over 100 pips if I didn't control myself. I find if this happens then to wipe the chart, and start again.
Last week I needed a good week and that is what I got. Made just over 100 pips so took my £37 account up to about £140.
I find some weeks it is easier to identify S/R zones and others not so easy. Again this will come with more time on the charts.
I was hoping to be making good green pips by now but I am still learning and keeping to a BE is not a bad place to be whilst learning and improving my skills in reading charts.
It still is great marking zones and seeing price react exactly as I expect. I think my main reason for not seeing a lot more green pips is the thoughts of the bad days and not wanting to jump in to early. This will come with confidence in my own skills and belief in myself.
So I am still here, in the background at least but will try to post charts when I can. I may also be joining the family business in the next week or 2 which will mean my trading time will be cut a lot and mean I will only be able to trade the evenings (UK time). This may mean a change in my trading TF or just stick to the 3 min charts and try scalping in the evenings, although at least the US is still open at this time so will get some movement.
But I will get whatever chart time that I can get when it does happen. But lets hope it is 2 weeks rather than 1 before I join
I am getting better, have not zeroed my account again but I am treading water for the last month really.
Week before last I had a bad week and lost a load (dropped my account from about £250 to £37, oops!!). I only have a small amount in the account as not worth putting too much money into it whilst learning. This means my money management is aggressive, so at that point I was trading with £2 a pip and made a load of bad calls in a day.
I am still learning to stop the rot on these days and step away so will get there. I am in the process of identifying patterns in my own behavior and when I start to lose. It can often be impacted by my mood or it is easy to lose a little control after a couple of bad trades. I am learning to get better with this though. Yesterday for example, I could have lost over 100 pips if I didn't control myself. I find if this happens then to wipe the chart, and start again.
Last week I needed a good week and that is what I got. Made just over 100 pips so took my £37 account up to about £140.
I find some weeks it is easier to identify S/R zones and others not so easy. Again this will come with more time on the charts.
I was hoping to be making good green pips by now but I am still learning and keeping to a BE is not a bad place to be whilst learning and improving my skills in reading charts.
It still is great marking zones and seeing price react exactly as I expect. I think my main reason for not seeing a lot more green pips is the thoughts of the bad days and not wanting to jump in to early. This will come with confidence in my own skills and belief in myself.
So I am still here, in the background at least but will try to post charts when I can. I may also be joining the family business in the next week or 2 which will mean my trading time will be cut a lot and mean I will only be able to trade the evenings (UK time). This may mean a change in my trading TF or just stick to the 3 min charts and try scalping in the evenings, although at least the US is still open at this time so will get some movement.
But I will get whatever chart time that I can get when it does happen. But lets hope it is 2 weeks rather than 1 before I join
However this is a really nice thread that can offer loads of help for all newbies and experienced alike, and it will be a shame to see it "doomed to FF obscurity"as you said. So i will personally make more effort to post....
