Nod, congratulations!!!!
You are catching on to a hard fact about this new profession you decided to tackle when everyone told you the odds were not with you. The trading game is probably as tough as going into politics. In politics as well as climbing the corporate ladder the person needs a line of shit a mile long and can bullshit the other person while flashing their best smile.
Trading is a "NO BS" contest with no excuses allowed. Can not be begged, borrowed or stolen. What you are learning just takes time, a lot of time to develope the internalized intuition to act automatically, discretion or automated, probably makes no difference. I never automated by code so really can not speak to that.
Correct, it takes time to place trades and exit trades without thought. New folks think this is a mechanical game like repairing a car. They have no idea the enemy is between their ears. Going live in trading is not like dating, trading live is when the wedding is over. Then and only then will reality hit...........this is no cakewalk. For better or worse they say, it is easy to commit when you have no idea what "for worse" really means. Same for trading.
No thinking in trading is an acquired skillset. Sure we all are not robots, but we must almost be one to survive. The hard part to learn is that it is the "ME" part that makes the mistakes, that holds a loser to long, that gets out to early, that revenge trades, that thinks to much and fails to do what is needed.
PS: Something you might consider about using TRAILING STOPS. When we get into a trend and show a profit, what must be considered is that even the 3 trends, major, inter, minor all can have so called normal retraces. As daytraders even a 5 minute chart is visualized the same as a position trader would consider looking at a daily chart. Same principles different time frames. With that in mind is it any wonder why placing a trail Stop in a 5minute chart will be taken out quite easily
There are in my view 2 rather basic ways to handle profits while still seeing a valid trend still in place. (This comes with time). Let the momentum of price itself dictate when the leg you are in is slowing down..............either book what you have knowing full well you stand a good chance to get right back in at a better price if in fact you do get a retrace............OR, you just decide you are going to have to take some HEAT before the trend continues on with maybe a "HOOK" a flag or whatever. Those are your 2 choices to milk a trend. It is no easy cakewalk so we must learn how to read trends rather than just expect them to carry on like a dead fish and follow the flow. If you book some profits and price continues on before you can get back in..................keep working on the timing. Hang in there.
I am much, much better in getting out of a trade just before a retrace than i am getting in. You would think a breakout trader would have an easier time getting in on trades.........but for me, if i am going to have to take heat it is getting in and fighting off pulling the rip[cord or getting stopped out. The hardest 2 ticks in trading are if the first 2 ticks are against you, HA.
You are catching on to a hard fact about this new profession you decided to tackle when everyone told you the odds were not with you. The trading game is probably as tough as going into politics. In politics as well as climbing the corporate ladder the person needs a line of shit a mile long and can bullshit the other person while flashing their best smile.
Trading is a "NO BS" contest with no excuses allowed. Can not be begged, borrowed or stolen. What you are learning just takes time, a lot of time to develope the internalized intuition to act automatically, discretion or automated, probably makes no difference. I never automated by code so really can not speak to that.
Correct, it takes time to place trades and exit trades without thought. New folks think this is a mechanical game like repairing a car. They have no idea the enemy is between their ears. Going live in trading is not like dating, trading live is when the wedding is over. Then and only then will reality hit...........this is no cakewalk. For better or worse they say, it is easy to commit when you have no idea what "for worse" really means. Same for trading.
No thinking in trading is an acquired skillset. Sure we all are not robots, but we must almost be one to survive. The hard part to learn is that it is the "ME" part that makes the mistakes, that holds a loser to long, that gets out to early, that revenge trades, that thinks to much and fails to do what is needed.
PS: Something you might consider about using TRAILING STOPS. When we get into a trend and show a profit, what must be considered is that even the 3 trends, major, inter, minor all can have so called normal retraces. As daytraders even a 5 minute chart is visualized the same as a position trader would consider looking at a daily chart. Same principles different time frames. With that in mind is it any wonder why placing a trail Stop in a 5minute chart will be taken out quite easily
There are in my view 2 rather basic ways to handle profits while still seeing a valid trend still in place. (This comes with time). Let the momentum of price itself dictate when the leg you are in is slowing down..............either book what you have knowing full well you stand a good chance to get right back in at a better price if in fact you do get a retrace............OR, you just decide you are going to have to take some HEAT before the trend continues on with maybe a "HOOK" a flag or whatever. Those are your 2 choices to milk a trend. It is no easy cakewalk so we must learn how to read trends rather than just expect them to carry on like a dead fish and follow the flow. If you book some profits and price continues on before you can get back in..................keep working on the timing. Hang in there.
I am much, much better in getting out of a trade just before a retrace than i am getting in. You would think a breakout trader would have an easier time getting in on trades.........but for me, if i am going to have to take heat it is getting in and fighting off pulling the rip[cord or getting stopped out. The hardest 2 ticks in trading are if the first 2 ticks are against you, HA.
