Mira wrote:My trading still sucks..
It's not about finding zones, that part is easy.
I can use the MO style, Doji Style, FAT CAT, NLA style and some of my new ideas to find a zone..
For the 80/90% of the time all the zones are there when a signal occurs, but if you (me) can't trade them then you can't trade them.
There are many ways to manage your money, but if you learn this basic template then you shouldn't have any problem creating your own:
Each line is worth about .125% of your highest account balance & you start off with 12 lines for a total risk of 1.5%
What is important here is:
1) you have a goodly number of lines so you are not thinking about risking it all on one trade
2) you are not risking all of your lines in any one period (M1 through H1 are the same)
3) you know the sum total of your risk: you are not going to keep losing 1.5% per trade and end the day with an insane loss (eg -6%)
4) you increase the value of the lines when you have more than 12 lines
5) use up the sum total of your risk-box
I personally have no hope of succeeding without position sizing, money management, and some plan that pulls it all together...
maybe because my technical analysis is lacking, I don't know.