You sound like one of my trading partners -
its not about the number of losses you have. Depending on which "system" i use.........my win percentage is 15 to 30% with an EV of 2 to 4 - 2 to 3 trades a day. I say this not to show off, but to give you some encouragement as I was as clueless as you were until i started flipping quarters
once you have accurately defined your edge, it will all come to you. You need to think in terms of probabilities - buy the tops and sell the bottoms......when momentum comes into the market
prochargedmopar wrote: es/pip wrote:
tough action today
no momentum really anywhere to trade
i was +60 on the e/j at 1 point on the second trade----- target was 170ish pips i got zl'ed---- i honestly thought we were going to go up--- i liked the formation on the bars so i stayed in got out on 5 min close against me---- oh well
this week was made in the early parts with all the action we have had----- today blew--- lets see what the rest of the week brings----
on days like these you try to grab what you can and not get hurt---- or dont trade at all----lol
I thought it was just me.
I did end up with 38.x live on 13 trades but it was a struggle.
Had two I thought were gonna take off when they were up around 10 pips and both ended in a small loss.
My first 2 losses of the week.
Lots of movement in market but it was always just as I exited and in the wrong direction.
I hear ya razorboy,
I understand and that is what I am so exited about...being able to have a small stop yet get big runs.....
I know exactly what M.O. means when he says your losses will cause you great laughter.
I've been doing it on demo....
What is a 15 pip stop when you've had 3 wins of 117/119/ and 185.
It means nothing......
If trading momo I do not see how you can lose 40% of the t ime. wtf??
From what I've seen on the 5m momo candles in the direction of the higher time frame it is almost a 90% win rate if you don't get greedy....
I mean some of those can go 30=50 pips with ease if you can hang in there.
And m.o. say...ONLY TRADE ONE BAR, but you look up from the 5m chart and your riding a 15m candle, and all of a sudden it turns into a 30m candle ect.....
Your tips are VERY much appreciated and the quarter flipping exercise has cemented something in my brain.
Odds baby, odds.
Now it's just a matter of applying the knowledge.
I've still got to work on rule #3. (completely accept risk and let it go)
It's a b#t*h.