Filthy Rich for Dirt Cheap - Ajaymein

[The_Pin]

Hi. I don`t want to judge you Ajaymein but your 2 last posts are full of emotions. I understand your enthusiasm about being a winner for a day. However can you change your trade plan after one good day?
Everyone make mistakes and with that high leverage one failer may blow your account.

Regards

[ajaymein]

Hi. I don`t want to judge you Ajaymein but your 2 last posts are full of emotions. I understand your enthusiasm about being a winner for a day. However can you change your trade plan after one good day?
Everyone make mistakes and with that high leverage one failer may blow your account.

Regards

That is the one and ONLY aspect of my trading I have yet to perfect, is emotions! But, I've been pretty successful past few months...and using my max 20 pip SL, its all groovy.

I'm hardly worried about blowing this account though. The ONLY thing I am slightly concerned about is my reasoning abilities when my account gets to $10,000+, which is why I created this thread to keep me in line and keep a journal so I don't do anything "off the books"

[ajaymein]

At the end of the week, I always go back and review all the opportunities the week offered to get a feel for what I missed, took, and made a mistake on. I just came across a HUGE critical error that CANNOT happen again.

The trade below I took and got stopped out like 8 pips I think.



I saw the momo bar up, but refused to close and reverse my position. The critical error I made was the entry was in DIRECT CONFLICT with my entry rules of trading with MOMENTUM, particularly on D1 and H4. This setup was exiting my H4 MOMO zone so was an IDEAL long, but because I was in the short, my brain refused to read what price was doing while my trading plan was SCREAMING LONG.



This will NOT happen again.

EDIT: I just realized I jumped on the short bc I was trying to hitch a ride on the H1 MOMO from distraction of the small H1 chart, while H4 zone was screaming LONG. Going to add H4 to the side to avoid this happening again in the future.

[aliassmith]

nice day

If I did what I did today for 15 days, I would be a millionaire.....

How unrealistic is that LOL!.....or is it

Just a word of caution, es/pip and I both got into a "funk" when we put our
superman capes on and thought we had to get a certain percentage
a day or perform a certain way. The pressure clouds the mind!

Also my aggressive pushing has to do with building a low risk profit cushion
and then taking 25:1 and 50:1 trades.

Regardless I have to give you a big thumbs up on your performance. You
may be another es/pip in the making.

[bredin]

I second aliassmiths caution:

The Market Gives what it Gives, and some days its not very giving

G.

[ajaymein]

Thank you aliassmith and bredin for your words of advice. Any criticism or words of caution to what I am doing is welcomed with open arms, and even encouraged! It really helps you see flaws and holes you MAY have in your system/psychological thought process that you have yet to discover.

I'm ready for a PImPING week.

[ajaymein]

Got a quick trade for +10...got to drop some family off at the airport so won't be back until evening. Will post trade and update then.

[ajaymein]

Trade #1 took early morning and trade #2 took on the road for a quick scalp. Around +20ish total

[ajaymein]

Current trade.



EDIT: After closing BE, decided not to enter until around 1.36 on lower momo bar

[ajaymein]

EXIT BE. Waiting for better price.