omg I am in tears (good)

[Visserman]

Its always like that in the beginning, luck is on the side of those who start)

 

[bha1]

It's not so magic anymore. But what I want to know is how to repeat that type of performance. Clearly, it's possible and I often think that perhaps dumb luck is really the magic of the simplicity that comes from not knowing too much. Here it is years later and the experience that comes with time and exposure, and I find it more difficult to trade than ever. I'm trying to figure out how to recapture the innocence and wonder that made me comfortable enough to enter trades at (miraculously) the right time and let them run. It used to be so easy. I used to trade at my kitchen table using just a laptop. I made money as easily as opening a faucet. Now I have a super PC, 6 screens, all the wiz bang tools and lately I can't seem to make a winning trade to save my life. I use tight money management so I'm not blowing my account. Instead I'm picking it apart in small bites that makes the process torturous. At this point, I think I should put it all in a single "go for broke" trade and either blow the account and put myself out my misery or make a killing and quite possibly restore my faith (in myself!).

Ugh.

Sounds like your strategy needs some work. It took me nearly seven years to come up a strategy where I could finally relax when placing a trade as I know eight times out of ten my order will get filled.

 

[BF1]

Sounds like your strategy needs some work. It took me nearly seven years to come up a strategy where I could finally relax when placing a trade as I know eight times out of ten my order will get filled.

I'd be interested in knowing your strategy if you were willing to share? Any plan that takes the stress out of a trade would be extremely useful.

 

[Wicked_Daddy]

Sounds like your strategy needs some work. It took me nearly seven years to come up a strategy where I could finally relax when placing a trade as I know eight times out of ten my order will get filled.

I think I posted that on a bad day when I was at the end of my rope. I took a week off from trading and instead spent the time analyzing my strategy, charting method and re-tooled just about everything to be simpler and more accurate. I'm happy to say that in more than 3 weeks of solid trading I have had only 1 losing trade out of 23 and it was small (a stupid entry that I corrected before it became damaging). I'm still being very conservative and closing out of some winners too soon but I'm also practicing not being greedy. I am focusing now on determining exit points with greater accuracy.

Yes, the key to relaxation is to know your strategy and trust it.

 

[bha1]

I think I posted that on a bad day when I was at the end of my rope. I took a week off from trading and instead spent the time analyzing my strategy, charting method and re-tooled just about everything to be simpler and more accurate. I'm happy to say that in more than 3 weeks of solid trading I have had only 1 losing trade out of 23 and it was small (a stupid entry that I corrected before it became damaging). I'm still being very conservative and closing out of some winners too soon but I'm also practicing not being greedy. I am focusing now on determining exit points with greater accuracy.

Yes, the key to relaxation is to know your strategy and trust it.

Well done yes letting winners run is still an issue I guess most live traders have. I trade mainly the SPX and it’s fairly a quick process to lock in 200 ticks anything after is a bonus. My only advice after many years would be let the market come to you boredom entries often end in regret. I’ve done my whole days profit like that in the past never again (hopefully).

 

[bha1]

I'd be interested in knowing your strategy if you were willing to share? Any plan that takes the stress out of a trade would be extremely useful.

Money management firstly 3% of your account on anyone trade should relax you for a start I’ve studied the instrument I trade for many years and know how she normally reacts day in day out never trade with imminent news on the way let the market react and go from there. My strategy is based around 4 EMA’s on a five minute chart with pinpoint entries my stop is relatively tight so if a trade fails I’m not crying into my pillow at night