combotrader
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Hi
I used to make good money trading. My methods were very simple - look at the daily and 1hr chart, identify the broad trend then wait for retracements to appropritate supp/res to get an entry. Often I look at the moving averages, esp the 21/50 dma`s.
I made money last year when I followed the above system but LET MY WINNERS RUN. Unfortunately, in march 11, I let my losers run as well and ran 23k to 2k in just a month. I had originally started with 5k in sept 2010. To say it was painful is putting it mildly.
And now I grew £100 ( yes just 100) and spread bet with small size and grew it to £1500 in a few weeks in august. By letting my winners run again. So I scraped 10K together and started again.
First few days went great but then again I took some big losers and crashed again.
And now I just cannot ride my winners anymore.
5ticks and I take bloody profits. I trade euro stoxx 50.
The fear, the fear......the fear is will lose again....and after 15-30 min even I could have made 20-30 ticks. It is excruciating.
I know what you will say. This is trading 101 - cut your losers and run the winners.
I take 5-20t profits and then have 10-15t losers - no wonder I`m stuck in a losing streak.
But dammit I know how to trade - and have been successful with reasonable size before.
Again,I know what you will say.
I havent found a trading methodology to suit my personality si ?
Well comrade I happen to be a crap scalper. It drives me nuts going in and out endlessly.
I make money on days I pick my spot, wait for it then put my stop on and let the thing go, with a limit order at my target.
In fact made almost 20k that way.....so why not now ?
Well I find myself glued to the screen watching every tick. My heart jumps with every tick. I am itching to make money....
Does anyone else have this problem ?
AT this rate I am going from having a promising career to being another casualty, which is just nuts.
Thanks comrades
CT.
I used to make good money trading. My methods were very simple - look at the daily and 1hr chart, identify the broad trend then wait for retracements to appropritate supp/res to get an entry. Often I look at the moving averages, esp the 21/50 dma`s.
I made money last year when I followed the above system but LET MY WINNERS RUN. Unfortunately, in march 11, I let my losers run as well and ran 23k to 2k in just a month. I had originally started with 5k in sept 2010. To say it was painful is putting it mildly.
And now I grew £100 ( yes just 100) and spread bet with small size and grew it to £1500 in a few weeks in august. By letting my winners run again. So I scraped 10K together and started again.
First few days went great but then again I took some big losers and crashed again.
And now I just cannot ride my winners anymore.
5ticks and I take bloody profits. I trade euro stoxx 50.
The fear, the fear......the fear is will lose again....and after 15-30 min even I could have made 20-30 ticks. It is excruciating.
I know what you will say. This is trading 101 - cut your losers and run the winners.
I take 5-20t profits and then have 10-15t losers - no wonder I`m stuck in a losing streak.
But dammit I know how to trade - and have been successful with reasonable size before.
Again,I know what you will say.
I havent found a trading methodology to suit my personality si ?
Well comrade I happen to be a crap scalper. It drives me nuts going in and out endlessly.
I make money on days I pick my spot, wait for it then put my stop on and let the thing go, with a limit order at my target.
In fact made almost 20k that way.....so why not now ?
Well I find myself glued to the screen watching every tick. My heart jumps with every tick. I am itching to make money....
Does anyone else have this problem ?
AT this rate I am going from having a promising career to being another casualty, which is just nuts.
Thanks comrades
CT.