My journey towards consistency

F,
I thought it better to post here for this as your statement was here.

In regard to your comment about putting points on the board before 9.30, surely that is only a psychological help to you as in reality your trades are a continuous work in progress and that the last trades no more affect the next, as in red coming 25 times in roulette making it no more or less likely that red will be next.

My point is that this is used by you as you break your trading down to days and subsequently down to 50 point a day minimums and by getting each session (day) of to a good start it is mentally a great step for the rest of the day. As surely you enter most (if not all) of your trades with a degree of certainty (based on your system) and each one should be as likely to work out well.

My own trading is mostly longer term (monthly) and that each month is a brand new period for me and there is no overlap. You are almost exclusively flat on the market at the days end.

Your comment that on the days with the good start you trade less. Well I doubt you take on the extra trades on other days that are riskier, I believe you just are not overly greedy and have a goal to aim at.

I have had this conversation many times in a slightly different area where people believe they have an edge and therefore they always conclude that they need to be pushing that as much as they possibly can and not just putting time or money amounts as an end. One could/should trade as much as they can all day. I appreciate for you at this point your priorities are different and for guys like gft that breaking it down in days is a good start but you also constantly mention % from 100 trades which in reality is 8/10 days.

I have no critical part to this and it started of as a short comment and I couldn't stop myself. I think it is good to break your trading down in simple parts and we all trade at our best from a good mental place and doing as you are it helps to start each session well and that spills over to the rest of your day.

Gl all.
 
Many trades today were over 5/6 pips ( two of them were over 10) and they all pulled back to stop me out +1 pip (or less)...


I'm not sure what it can be done here, i am leaving these to run obviously it's not the case...

so rather having a green day, i am in red just because i want to "catch" the runners.....

maybe fixed small target 5/10 pips will solve this???
 
NickBk said:
F,
I thought it better to post here for this as your statement was here.

In regard to your comment about putting points on the board before 9.30, surely that is only a psychological - Yes agree - but If I had not pips on the board by say Midday - because I started late or had say 3 or 4 losses - then I would be trading different in the first 3-5 hrs of the US session - ie taking more safe scalps for say 3-7 pips and not cherry picking so much for just "hollywood" type trades



My own trading is mostly longer term (monthly) and that each month is a brand new period for me and there is no overlap. You are almost exclusively flat on the market at the days end. - Yes maybe 85% of the time I have closed out all trades before 10 00 pm

Your comment that on the days with the good start you trade less. Well I doubt you take on the extra trades on other days that are riskier, I believe you just are not overly greedy and have a goal to aim at. - Its a balancing act - everyday can be so different - so always try and remain fluid and dynamic to adapt etc

I have had this conversation many times in a slightly different area where people believe they have an edge and therefore they always conclude that they need to be pushing that as much as they possibly can and not just putting time or money amounts as an end. One could/should trade as much as they can all day. I appreciate for you at this point your priorities are different and for guys like gft that breaking it down in days is a good start but you also constantly mention % from 100 trades which in reality is 8/10 days. - Yes whilst improving you skill levels - judge every 50 or 100 trades rather than just every 5 or 10 results

I have no critical part to this and it started of as a short comment and I couldn't stop myself. I think it is good to break your trading down in simple parts and we all trade at our best from a good mental place and doing as you are it helps to start each session well and that spills over to the rest of your day.. I learnt to always break everything down in to the detail - so even if you have a monthly target - sub divide it into a weekly and daily target. With me having a daily target - I try to subdivide it into 2 hr periods - some days every one is positive other days I can have a negative 2 hr session - means then more focus after say a 15 -30 min break

Gl all.
Click to expand...


Hi Nick

I hope this answers your points etc

Regards


F
 
gftrader32 said:
Many trades today were over 5/6 pips ( two of them were over 10) and they all pulled back to stop me out +1 pip (or less)...


I'm not sure what it can be done here, i am leaving these to run obviously it's not the case...

so rather having a green day, i am in red just because i want to "catch" the runners.....

maybe fixed small target 5/10 pips will solve this???
Click to expand...


The good thing is you are reading PA better (y)

Out of every 10 scalps you take only 2 or 3 will end up as runners - ie making over 15 or 25+ pips. So thats why you only leave part stake on with stop in profit - not all stake - as you lose out on maybe 7 -8 out 10 scalps

Hope this makes sense ?

Also - the 6 30 am KT was brilliant this morning for sells on EU / GU / AU / NU etc and buys on U pairs

It then changed after the 2 Opens

Have a good day

Regards


F
 
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