Postby dojirock » Fri Feb 14, 2014 2:26 pm
I can count the number of times on one hand that I look at a weekly or daily chart. Im not a long term trader. I will look rarely at a 4hour. I trade hourly for bias and ANY time frame less for bias and or entry.
Learn to crawl before you run. You seem to really like TRO. Listen to what he says, "Don't Be A Yalie" Trade one direction until your making money. This is key. It is alot less overwhelming and you will build confidence, learn to take small losses and work on letting the winners run more than the losses.
The H4 example you speak of that I took, I closed. Why, because it drives me nuts to hold trades all week. Im not that kind of trader. If I was I would still be short on that E/J, there has been no stop out.
Pick one way to find a bias, dont change it till your making money.
There are many ways to do it...Taught here at KR
Lines, indicators, flip a coin. It doesnt matter. Im serious about that.
Then determine what your entry method is going to be. Keep it simple.
It can be a ema pullback, a ma cross, a zline wick, a rat trade, a breakout, a Dragon line, ect. BUT ONLY in ONE DIRECTION, MATCHING YOUR BIAS.
Then learn to take the pips when they are given, there will be more trades.
Dont let a winner, based on your own criteria turn to a loss.
Many times when I post these 100 pip gains, it because I dont follow the trade. Im up 10-20 pips, I set to B/E and go to bed. I wake up with price in my favor, then I close it. Do I care if it ends up being a B/E. NO...ITs not a LOSS. Im probably most defined as as swing, scalper trader. This Zebra hasnt learned how to change his stripes! So now I concetrate on larger lot sizes, hit my goals. Over acheiving my daily goals, bankrolls my next days goal which reduces pressure.
doji
It always takes Momentum to break Momentum!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"