Aliassmith Psychology 101 and other stuff

[aliassmith]

All trades that I picked and never had the balls to hold them
to my expectation Maybe If I play the daily more conservatively
such as 2% is max risk.

Planning my future trading style when I have my $$$Million account and
don't want to sit in front of the PC so much.

Still Looking for some (American-Vanilla) Currency Options to trade this.
Maybe I haven't looked hard enough.

[aliassmith]

Finally had the balls to hold on a high TF move.

[spa]

Finally had the balls to hold on a high TF move.

bravo

[cwn6161]

Awesome job! With a move like that, who would need to take another trade during the week?

Did you try to add during retracements?

[aliassmith]

Awesome job! With a move like that, who would need to take another trade during the week?

Did you try to add during retracements?

I did add keeping my average behind some correction points. It was a monster and I am starting to appreciate longer term trades.

[MightyOne]

Finally had the balls to hold on a high TF move.

Nice balls Aliassmith

[aliassmith]

Finally had the balls to hold on a high TF move.

Nice balls Aliassmith

Thanks, I am trying to trade long time frames. Short term scalping can be
really profitable, but I don't want to spend all that time trading in the future.

I am keeping an eye on your space wars thread it looks like a modified
version of MM I posted awhile ago. But then again as I tried to explain
a lot of things can look like cut your losses and push your wins.

[aliassmith]

Was going to post this in dchappy's thread, but I'll do it here.

Question to think about

What has been the biggest factor in your trading that caused you to lose
the most?

I find personally that GREED was my biggest demon. I always kept thinking
to myself that price will keep going my direction some more. The thing is it
didn't keep going most of the time. I would be up 30 pips and then take a
loss.

I guess I should wrap this up with the "art" of taking profit is as important
or more important than the "science" of entry and greed can distract you
if you continue to woulda, shoulda, coulda.

[1992 DREAM TEAM]

.

[Sandra]

im with ya on this one alias,

that was my problem.....when i backtracked and looked at my trade...i realized my entries were not the problem....example.....last month..my success rate was 87 percent...but i only won on 32 percent of my trades....

taking profit and not giving it back is the key....be proud of closing a trade in the green....even if its one pip!


This month im at a 88 percent success rate with a 81 win percent....i am up 70.3 percent on my account!

I will never give back profit again!!!!!

Keep trying you will get it, and your not the only one out there that just has this last hurdle to cover..... alot of methods work in trading....money management is the Holy GRail!!!!!!

Sandra