Flash's Self Improvement Trading Journal
- Thread starter Flashboy
- Start date
Speaking from experience, I just had four days of only trading with the trend. Made money everytime. The increase to my account averaged about $100.00 per day, no big deal.
The increase in my trading confidence huge.
I was always trying to catch the top/bottom and was missing it. I was always so willing to risk money going against the trend, and it finally hit me, try risking money on going with the flow of the market. Much more relaxed and calm.
The first time I ever felt in tuned to the market.
Flashboy you have all the answers, you know what you need to do. I would suggest stop trading until you have a trading plan that incorporates what you know to be true. Keep it simple.
There are 2 ways this can go, take the time to give your self a chance at trading or continue what you are doing, eat up all of your capital, and then everyday at work you can kick yourself for blowing it and say if you had another chance how you would do things differently.
You are building your future everyday, if what you are doing is not helping to create the future you want, then modify what you are doing to be in alignment with the future you want to create.
regards,
Bruce Hawkins
The increase in my trading confidence huge.
I was always trying to catch the top/bottom and was missing it. I was always so willing to risk money going against the trend, and it finally hit me, try risking money on going with the flow of the market. Much more relaxed and calm.
The first time I ever felt in tuned to the market.
Flashboy you have all the answers, you know what you need to do. I would suggest stop trading until you have a trading plan that incorporates what you know to be true. Keep it simple.
There are 2 ways this can go, take the time to give your self a chance at trading or continue what you are doing, eat up all of your capital, and then everyday at work you can kick yourself for blowing it and say if you had another chance how you would do things differently.
You are building your future everyday, if what you are doing is not helping to create the future you want, then modify what you are doing to be in alignment with the future you want to create.
regards,
Bruce Hawkins
So? - you don't need to capture the entire move to be profitable...
You don't need to catch the beginning of the move to have a low risk profitable trade.
That is a common misconception.
If the move is an up move, unless it is very fast indeed, there will usually be a pullback from one reasonable time frame bar to the next. Look at the 10 min candles. The close is not usually the high, and the low of the next bar is usually below the close of the previous bar. I call this the overlap. down moves display the same characteristics most of the time.
Is this not another entrypoint with lowish risk associated, and clear failure point and a good target to place on the trade?
The there are all the reaction pullbacks along the way which you can find in almost any timeframe, aren't they good entry points?
The market doesn't need to be moving very fast in any direction either. The price can be creeping slowly upwards or downwards via a series of highers and lows. Are they not also good entry points with lowish risk, clear failure points and good tragetting?
Have another look and identify all the possible entries into the trends as they occur - you will be amazed how many there actually are that have an acceptable risk/reward associated.
Best
Natalie
