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True. Good advice. I started a journal but more focused on the psychological side. You do your tracking on excel? Where can I find a template? What happened after was I exited on break even. Unfortunally this was a false breakout and I did not reverse. What happened next...

Lets do a little exercise. This was a trade I was in. There is the red retracement line. Tested, and plunged. Entry point on the line short. How would you manage this trade exactly? This is a 15 min chart. The idea was to let it run short to the next retracement line.

There is something Brett Steenbarger wrote on his psychology 2.0 book that says "A valuable best practice is to mentally rehearse scenarios of being stopped out and undergoing planned losses. If we are unconfortable with those scenarios, we know that our emotions are not aligned with your...

Yes, makes sense. Its a dynamic process. Yet i've been quite "unlucky" lately. Potential good trades not trailed got stopped, others not looking so good were trailed just to move away favorably and brutally without touching entry. At this point in time I need to avoid frustration as much as I...

Hi guys. Im struggling to create a rule on breakout trading for longer holdings. I would like to ask you how you manage risk there. For example If it goes in your favor and signals a reversal on a short time frame do you stand your ground with your stop or trail it? Sometimes Its possible to...

You have to or you wont survive, pure and simple. Let it move, control your fear and dont interfere. If you are intuitive and your process works you will make money. Never tight your stops too much. Adjust to volatility.

Like me you need to snap out of it. After all what that does is destroy our accounts. It takes balls especially with futures but the rewards are there if we let the market move more freely. Aditionally I now have a new rule. No more breakout trading. I only get in in strong momentum algo trading...

I have now evolved a bit. Now I take and accept the risk. The most frustrating thing in trading is losing money when you are right because you cant handle the pressure. Im not doing it anymore. If market pushes me off so be it. But I let it move before it takes me out and prove me wrong. I'l get...

Yes true. I would have to sacrifice all the info I could get on the price reaction on any specific level, but yes. Stress saver. Also i downloaded tekken 7 to keep my mind of the trade to play on screen one. Never got to do it though ahaha

Exactly, Fibonacci. Precision is the name of the game. OK, got it. I will investigate it for sure. Better yet, i just remembered i have the nasdaq CFD also wich is even better. Awsome. You are cool dude. Thanks!

Here are some interesting facts that may shed some light on "Micro Managing": Mark Douglas insisted that his numerous students and book readers write out their RULES of trading. Specific rules for entering a trade, amount of risk (stops) that they would take on the trade and also the rules for...

Here are some interesting facts that may shed some light on "Micro Managing": Mark Douglas insisted that his numerous students and book readers write out their RULES of trading. Specific rules for entering a trade, amount of risk (stops) that they would take on the trade and also the rules for...

Fair enough. Thanks

Yes, but its not working. Im always interfeering. I need to fix the problem.

Its hard to explain but i will try. I mainly trade NQ using ES as a guide, correlation and divergence (ocasionally correlated stocks with relative strength), CL and GC (less frequent as I look at specific levels). As I use Fibonacci for specific entries and exits on smaller time frames and it...

15 min. Between intraday and day before fibo levels. Tight stops. Not taking many chances on swing trading on this environment.

Not really. Im more patient now. If risk increases too much i dont take it unless its a stupidly impulsive move or algo driven where chances are better. Not losing nothing I cant afford. Sometimes i miss oportunities yes while distracted on other instruments and I get frustrated.

Yup... Mostly yes

Day trading mostly. Yes, short time frames. Always looking at price action :S

Hello everyone. For those of you who have successfully completed this phase, I ask for advice. I feel im near to unlock my full potential as a trader but some level of fear and micro-management is still in the way. My system works and my intuition is very acertive. I dont freeze anymore but i...