lukx zline trading log + cfabian p.35 + adaseb p.48
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- aliassmith
- rank: 5000+ posts
- Posts: 5057
- Joined: Tue Jul 28, 2009 9:50 pm
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- aliassmith
- rank: 5000+ posts
- Posts: 5057
- Joined: Tue Jul 28, 2009 9:50 pm
- Reputation: 2847
- Gender:
lukx wrote:loss:
Sorry Lukx but it has to be said:
There doesn't seem to be any rhyme or reason for the trades you put on
and your exits are just as bad.
You should STOP trading, turn off Oanda.
Then you need to do some soul searching.
Think long and hard about if you are willing to do what it takes to be
successful. Be truthful with yourself!
If you decide you are willing to do what it takes then find one
profitable trader/mentor and pick one tradable set-up that that
mentor uses and master it.
Do not deviate from the teachings at all. Trade it like you are trading a
$1,000,000 account all the time and not just pennies. Don't take trades
just to take trades only "cherry" set-ups from that one mentor.
Trust me I have been through what you are going through. A guy I do
trading consulting for was going through similar things. You just need the
proper perspective.
Treat trading like a serious business:
If you are in the tire business you focus on tires. You know how many
tires you need. You know how much to pay for the tires. You know for how
much you will sell the tires. YOU DON"T buy tires just because you feel
like buying tires. You buy tires for a specific reason and for a specific
outcome. Buy the tire for $80 and then sell the tire for $160. Then sell as
many tires as you can when the customers come looking. Customer come
by when they want to not when you need them.
Trading is a business: Buy a position for risk ($80) sell the position for
reward ($160). Break your account up into 50-100 positions (tires) and
put a position on when a "cherry" set-up happens (customer buys). When
you make 50-100 trades you sold your original stock of positions (tires).
That could take 2 plus months to move trhough 50-100 trades (tires).
Treat trading with the seriousness of a million dollar business and not a
game
Trade Your Way as Long as It Makes Money!
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