BOOT CAMP TRAIDING INSPIRED BY TRO
Posted: Tue Aug 18, 2020 2:46 pm
At the outset, I would like to apologize for my English I am still learning.
Inspired by TRO movies "TRO TRADING BOOT CAMP"
I decided to start a topic, because my trading is still not profitable, I will spare you my history, but I think I'm an idiot- not to be profitable for such a long period, and to make the same mistakes over and over again ((When I started trading, I had a lush hairstyle on my head, now I'm bald so imagine how long I am stuck in the circle of repeated mistakes)
So it's time to change my trading approaches:
1. I know that being unprofitable is already my habit:
-I have to throw all my forex pseudo-talk into the bin.
-Start over and teach my mind and body to approach a new environment.
2. Apply the TRO principles:
- Trade compatible only with the color of the H1 candle
-Using only horizontal lines. Green bar on
line go long, red one go short
-Maximum SL 10 pips (hard stop):
- "Normal" sl matches my exit play book.
for example if / then: if price is on +1 my sl
goes to -3.
-Take profit compliant with my exit play book.
3. For starters, if I lose 20 pips in one day in several trades (-3, -2, -5 ... etc), I stop trading and wait until the next day.
4. Daily profit in the first learning phase is 10 pips, after reaching it I stop trading and wait for the next day.
5. In the first phase of trading (the first week or more I need to feel confident), I will only take 1-3 pips to learn to take profit. (exit play book with sl applies +1 to sl -3.).
6. Application of knowledge about Brain Management.
If anyone would like to advise me, please feel free.
I am starting tomorrow, I will send a screenshot of my transactions and comments.
See you tomorrow
Inspired by TRO movies "TRO TRADING BOOT CAMP"
I decided to start a topic, because my trading is still not profitable, I will spare you my history, but I think I'm an idiot- not to be profitable for such a long period, and to make the same mistakes over and over again ((When I started trading, I had a lush hairstyle on my head, now I'm bald so imagine how long I am stuck in the circle of repeated mistakes)
So it's time to change my trading approaches:
1. I know that being unprofitable is already my habit:
-I have to throw all my forex pseudo-talk into the bin.
-Start over and teach my mind and body to approach a new environment.
2. Apply the TRO principles:
- Trade compatible only with the color of the H1 candle
-Using only horizontal lines. Green bar on
line go long, red one go short
-Maximum SL 10 pips (hard stop):
- "Normal" sl matches my exit play book.
for example if / then: if price is on +1 my sl
goes to -3.
-Take profit compliant with my exit play book.
3. For starters, if I lose 20 pips in one day in several trades (-3, -2, -5 ... etc), I stop trading and wait until the next day.
4. Daily profit in the first learning phase is 10 pips, after reaching it I stop trading and wait for the next day.
5. In the first phase of trading (the first week or more I need to feel confident), I will only take 1-3 pips to learn to take profit. (exit play book with sl applies +1 to sl -3.).
6. Application of knowledge about Brain Management.
If anyone would like to advise me, please feel free.
I am starting tomorrow, I will send a screenshot of my transactions and comments.
See you tomorrow