Well Today I've lost 59$, but I followed my rules..
So the trade was just breaking of the trendline, and then 2nd bounce of it, I thought it would go up, but it showed me soon enough that I was wrong, and trading with the trend is better, I should remember that "the trend is your friend", but I always forget.
I am just getting back to trading so it will be hard, but I know I will eventually be profitable, I will continue as planned, and the money will come.
Here is how today looked like :
Posts
2 comments:
1st of all - good to see you back to blogging.
In relation to trading - I think that putting the focus on the quality of the trade and ignoring the $$$ side, is the only right way to succeed in the long run. Keep on doing that and your account will be grateful.
I'm not sure about the setups that you take, but you really have to make sure that you take only the ones that have proven to be as highly percentage setups. Even if it means that you will make only 2 or 3 trades per week!!!
A couple of free advises are:
1) try to always trade from a narrow range bar - what it gives you is a very defined and reasonable stop (especially important when you trade those damn fak-ing futures and can't adjust your size according to the risk).
2) Try to implement some kind of a momentum indicator such as RSI/Stochastichs/MACD etc that will help you to define the right moment to enter the trade together with the narrow range bar and the right setup. Make sure that all time frames (from the smallest you work with to the largest) are in correlation and only then trigger your entry.
I'll try to be on the msngr next week more often so that we could chat some more.
Have a good Purim and a good weekend!
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