This is probably my last post to this thread in that I think I’ve learned what I needed to know from this little exercise and it has therefore served its purpose.
First of all, next week, when I’m able to once again fully devote myself to trading, I will go back to looking for only 5 to 10 pips profit per trade (in most instances) as today’s trading made clear to me (as if it wasn’t clear already) that it is when using this style of trading that my results are 80% to 100% successful per day (as reflected by the above reversal in results from negative to positive once I returned to my old approach).
Second, when I do not use my old approach, it often takes more than a day before my take-profit targets are finally hit—if ever—whereas I can “scalp” 5 to 10 pips over and over again all day long to walk away from every single day with a profit (that eventually adds up over time).
Moreover, when I do not use the above reproach, it also puts me in danger of having a trade I executed based on the correct suppositions nonetheless stopped out due to the shenanigans of the market makers, who have a habit of stop hunting in the “wrong” direction just before sending price on the trajectory they actually want it to go.
And finally, the main reason for this little experiment was to figure out how to ensure that my average gains are larger than my average losses, and it is now clear to me how I can do that using the aforementioned “scalping” style of trading by simply managing my trades very aggressively.
First of all, next week, when I’m able to once again fully devote myself to trading, I will go back to looking for only 5 to 10 pips profit per trade (in most instances) as today’s trading made clear to me (as if it wasn’t clear already) that it is when using this style of trading that my results are 80% to 100% successful per day (as reflected by the above reversal in results from negative to positive once I returned to my old approach).
Second, when I do not use my old approach, it often takes more than a day before my take-profit targets are finally hit—if ever—whereas I can “scalp” 5 to 10 pips over and over again all day long to walk away from every single day with a profit (that eventually adds up over time).
Moreover, when I do not use the above reproach, it also puts me in danger of having a trade I executed based on the correct suppositions nonetheless stopped out due to the shenanigans of the market makers, who have a habit of stop hunting in the “wrong” direction just before sending price on the trajectory they actually want it to go.
And finally, the main reason for this little experiment was to figure out how to ensure that my average gains are larger than my average losses, and it is now clear to me how I can do that using the aforementioned “scalping” style of trading by simply managing my trades very aggressively.