New Trading - Not Greedy, Scalp, One Trade per day only

It's just sometimes we are too greedy and think we are invincible until one trade take the equity away. Learned that the hard way, I'm gonna stick to the plan one trade a day to make sure I can pick the best trade...

Questions : Have you ever get into a trade too early and use up all your margins already? at that time thinking, damn if I still only have margins I would make profit easily now?

it happened to me everyday, I used too high of leverage and take risks way to high! It's not good

Yes, it happened to me a lot of times in the past.

It is not the right way. Like you only dance to one song.

It is about your mindset. To prevent shoot yourself at foot, i recommend you make a trade management EA with redefined rules.
For example: you make 5 trades/day, your account is $100, your max risk per trade is $20. You can not open trade without stoploss. If you lose 3 trades in a row, the EA will shutdown computer and ask you take a walk,... (My EA say "Seriously? F*ck you!!! Take a walk!!!" whenever i lose 2 trades in a row.)

If you use MT4, PM me, i will send you for free (include source code so you can modify for your own need).
If you use Oanda fxTrade, send me fxTrade sdk, if it is easy (it can be code in less than 2 hours), i will do for free.

Be the way, are you Vietnamese-American?

PS: As a trader, you should never ever open or install executable or ex4 (ex5) file without source code or from very trusted source.

You might want to look at time of day your trading.. and stick with only certain times...

Usually reversals come near market opens especially near london and usa opening times.
Do a study of past 100 days how market reacted at London or usa open.
look for patterns.
often mid session traders are taking lunch.. they are out of gas as I call it..... and price really slows down or retraces a bit.
Take notes on what happens and what affect news has during those times of day...

once you see a pattern set up a system for that time of day.

As for your excessive risk taking and using all your leverage... Thats not what professionals do.
Trading is a maration, not a sprint .. Its not a get rich quick scheme. its not the lottery.

Trading is about putting odds in your favor and repeating it over and over for years... building your account along the way.
you will never be successful taking the risks you are.. Your account will blow up... 100% guarantee it.. Your doing it wrong!

philosophize about trading, no joke: you know your problem but can not solve it because some things in your mind are not clear stated! look at your trading: trying to catch falling knifes, overleveraged, big loss one minute later next trade and so on. Do you realy know why do you think, that this is the best way for you to trade or is it more a "i dont know it better or "i could have made so much money if just this one fucking trade never happends"? Ask yourself what do you expect from trading, why do you see a chance right at the place where you open a trade, why trading overleveraged, why trading if there are so many candles around and no clear direction, where is the edge?
I see so many trading strategies here on FF with a lot of fancy Indicators (if my MACD and the stochastic... or the stupidest i saw the last time a stochastic with a setting of 1 and looking for divergence ), technical analysis that works more or less and so on and every one surching for an edge but if you take a step back and philosophize about trading, than maybe you get a different view to some things and can play with different Ideas. As example: when is a range a range for me and how do i handle ranges. Do i trade the breakout or do i trade the range and how? When is a trend a trend? do i need TFs and candles or are there other ways, if yes what TF and why, scalping on H1 why not? what about hedging positions but how? What will i do if i have no money anymore to trade? and and and .... think first!

New Balance
New Rule
New Strategy

Let see 2% per day will work out good

Used up all your margin? Nobody who wants to live long in this trading activity does that, my friend. I too learnt that the hard way. You can make conscious effort to stay disciplined and not put all your eggs in one basket. Personally, I cannot wrap my head around the idea of a single trade a day. If my trading system gives me only one entry signal, then that is what it is. But it's happened on several occasions that some event may cause my first trade not to sail smoothly, whereas the subsequent one or two help me meet my goal for the day... On the whole, you are right: It's not good to use all your leverage... even if you are trading a news release.

First trade not bad .....

I like the simplicity of the one trade a day methodology but if you see more than one clean setup a day, why not take it?? What strategies or reasons do you look for that signal an entry into the market for you??

If you have the discipline to make 1% or 2% per day, which seems easy but is not.
In the medium / long term you make money.

Good luck

Second day trade result
not bad

Nice going. Stick to your strategy and rules. You can do it

Arent you doing 3 trades in less than 24 hours? What happened to 1 trade a day?

"Learned that the hard way, I'm gonna stick to the plan one trade a day to make sure I can pick the best trade..."

Maybe do one trade per session (asia, london, ny) - they all have good set-ups for the pips you are taking.

Seems like Gu is your Achilles heel.

My bad ... I made 1 trade 08/21/2016 and second trade on 08/22/2016 ..
3 trade shouldnt happen