aliassmith wrote:prochargedmopar wrote:Thankyou to both aliassmith and Dragon33 for your most recent exchanges with Lukx.
There are others watching and these post have been very helpful.
You are welcome PRO.
I try to give back when I can.
What I had to do to improve my trading:
*Go back and read everything MO has posted more than once.
*Forget there are timeframes less than M15 and trade more pairs instead.
*Learn to take that small loss or BE.
*Learn to take a profit before it is snatched away.
I forgot to add:
Getting "Wicked" into a trade is an artform.
I must have missed at least 90 pips in moves this week
because my limit orders were missed by 1 or 2 pips.
Getting wicked into a trade helps with 2 things. It helps limit
your stoploss sizes. I have a hard 21 pips stop, but I have
been taking 9 or less recently with wicked in trades.
Being wicked into a trade helps with the psychology. It is a
nice feeling sitting with profit after the entry candle closes.
It builds confidence in the trade.
So with a reduced average stoploss my risk:reward model
changes. 1:2 with 20 pips 1:3 with 30 pips etc. Having that type
of R:R you only have to be right over 50% of the time for
the most part.