es/pip wrote: prochargedmopar wrote:
yeah, 11.7 " screen, not helping....LOL
P/L is pips but you can't count those as I scale out.
I can trade the market big time watching it. Press the mouse and my world turns up-side down.
Day 41, Day 6 of 2nd cycle.
Went on TILT,-20%
1. did you average down?
2. what % risk are you trading at?---- per trade
When it comes to money, believe me, I've done all the calculations.
I risk (supposedly) 3.25% per trade, I've been having difficulty this cycle trying to use full pip value so usually much less. Stop is at 7+spread.
I have a very bad habit of doubling almost instantly and grabbing 4-5 pips and then bailing at b/e of last 2 combined trades. Trading the account balance instead of chart.
It bit me today as I ventured up to $15 pips showing $600 balance.
I was short e/j at +22 just before news, I decided to close out with 20% loss instead of risking 60% on news spike. If not for news there was nothing on the chart telling me to exit until my target of 50+ pips.
I still live to trade another day. At full pip value it's ONLY 75 pips. I'll make it hard on myself and drop back to $1 pips for a while.
Plan out window atm, maybe I should re-start first cycle again.
Not sure what to do.
I'm going to an Online trading academy event with sam seiden next week.
They have a few speakers lined up and are suppose to teach equity/risk management and play a simulated trading game. (advertisement basically) but should have some good basic info. It's Free.
I'm also going to a 3 day workshop with Chris Lori of forex mentor in NC next month.
I signed up for the Pro traders club market reviews and I'm attending a free online webinar next week for members.
Inside the banks
Complete FX trading course
Optimal trade entries
High probability reversal patterns
Psychology and risk
Forex mentor scalping course
Trading S&R course (vic noble)
HLRL course and Bonus package (vic noble and some ausy)
There is hundreds and hundreds of hrs of vids by Lori in PTC.
I've started from 06 and plan to watch them all the way through.
Focusing on how he manages his trades and his views of the market.
I'm in Feb 07'.
Complete fx is 24hrs of vids, I've watched it 5x.
The others run 1-5hrs
I'M NOT QUITING!!!!!