You won't get a 70% win rate or a 1:1 R:R if you don't get comfortable with uncertainty.
Is trading easy?
- Thread starter nooby_mcnoob
- Start date
You won't get a 70% win rate or a 1:1 R:R if you don't get comfortable with uncertainty.
I agree 1000%. The sad thing is that many of my trades are good if I took them right when I want to, but I have strong hesitation often, and by then the best entry is gone. And of course if you chase with a tight stop, it ends up being a losing trade far too often. I always thought to myself that if I just take each trade I want to right away with a tight stop and very small risk, then I could work through this block. But when I end up hesitating and turning the trade into a loser, its harder to pull the trigger on a whim, when it is actually most ideal.
If you are on a platform that allows paper trading with the same interface, then do that for 6 months doing exactly what you say: take every trade. Once you are consistent, then switch to micros.
I was in a rush earlier, but to be clear, I entered long on the breakout at B, closed near top of the hour and F, closed around 3900.
Gotcha, so you had 2 entries then? The one at B like you say after it broke above, and then tried again like I mark at F? Really good trading!
Can you show me some trades that don't work? LOL.... (I'd love to see a whole week of trades, to see how it all comes together)
Maybe, if you show some promise I will. So far you're just making excuses for not improving.
Trust me, I do a lot of self analysis and reflection. I'm struggling to figure out why I'm still struggling. I have done so much analysis on this, and am pretty good with even explaining almost every single little move. I have years of charts marked up with a ton of notes. Sometimes it seems like I'm over complicating it, but sometimes it seems like there is a reason for every move, and sometimes when a trade didn't work, it becomes obvious once I dig a little deeper. (ie. the correlation between NQ and ES is incredible, and if one hits a key level, it drags the other, so watching both is paramount) Its almost maybe too much info cause now I see so many trades that set up, and its hard to take every one. So then you go through trying to filter, and well, it ends up being paralysis from analysis.
So I still haven't been able to put it all together. I take shitty trades that drain the account, and run out of emotional energy when its looking good. I hold the losers, hoping for a BE exit, but take quick profits. This if of course all against the data I already have! Much of my actual trades don't line up with my analysis. So its incredibly frustrating. I could teach trading much better than I could trade! LOL
Switching to trading the ETF's has been better since its taking some risk off from trading the micros, but I'm still skipping too many trades. I know there is this zen moment where you feel so free because nothing can hurt you because you trust that your process works, and I can almost taste it, but my account doesn't show it. LOL.... Even if a trade doesn't work, its almost like this adds to the information because it might show the market is moving in the other direction, so having a plan for when you're stopped out is just as important as having a plan on how to enter. So its like all the pieces are almost there.
If only trading was as easy as picking up women. I have that part solved quite nicely.
A rejection from a girl means nothing, and after several approaches, I always get a couple of numbers. But losing money is much more painful.Anyway.... quick nap for me now before work.
It ain't rocket science.
Double Top and Bottom
https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-18#post-5309309
Gotta love his analysis paralysis eh