DislikedSo I decided to trade before reading your advice on my trades yesterday and I feel pretty ashamed to repeat my mistakes today T.T. Anyway I've memorized the advice I've forgotten in the previous posts like entering on the 12 pip retracement and the importance of whole and half numbers. Trades {image} 1. Tried going short after the 2 downward legs from 112.125 but got stopped out. {image} This ones a bit chaotic. I knew the PA was really choppy but I tried to catch tops and bottoms and as a result I got punished hard. I will stay out next time until...Ignored
That statement right there is a big one. Relax. It'll come.
A quick baseball analogy. Two hitters. One goes up to bat - swings at everything that is thrown him, regardless of whether or not the pitches are hit-able. He may get 'lucky' from time to time and get a hit, but more likely he's going to strike out. Hitter number 2, he is a bit more discerning. He knows what kind of pitch he can hit well and he has decided to only swing at those pitches. He doesn't always hit the pitch he wants, but two things happen as a result. The quality of the hits he gets are better and two, he has a calmness about him because he knows exactly what he's looking for. He knows what kind of hitter he his and he knows what pitch serves him best.
We can choose what kind of trader we become. We can swing away all the time, or we can be very specific about what we are looking for, and only try to trade those setups. Part of being the second trader - I had to learn to sit, or to take a pitch. Speaking pretty much from a state of mind point of view, it has helped bring a bit of peace to the otherwise fun-filled stress of trading. Hope that makes sense.