So I funded another account a few weeks back and have already lost 62.22% since May 13th. I've probably lost in the region of £3k since 2011 and still I make the same mistake time and time again. That mistake is MM and position size and of course the dreaded rage trading.
I see myself as being a good analyst of price but always allow a full stop loss to be hit and never let a winner run.
It actually hurts writing this as I can see the issues I make and vow to never break them again but then if I suffer a loss I load up and gone.
I know these are my issues and only I can resolve them but I am going to start to journal my trading to see if that helps but also would like some constructive criticism from profitable traders if they see something glaringly obvious I am doing wrong going forward. I would really appreciate some input if you can spare the time to help a fellow trader achieve their goals.
I will not be going back to demo as I still have a whopping £400 in the account and so I think I just need to learn to reduce my position size which is around 1-3 lots and start to trade between 0.10 & 0.50. This way I still feel the emotion of real funds and hopefully build some stricter rules in to my approach.
I will use support and resistance and I like to sell retracements and buy dips in the direction of the 4hr trend taking entries of 1hr or 15m charts. I like double tops and bottoms and areas of resting stops again in line with the overall trend.
I will trade Eur/Usd and Gbp/Usd pairs mainly but will also look at Usd/Jpy and some other pairs from time to time.
Please do not post obvious flaws I have mentioned above that are straight from the text book, the theory side I know but have the trouble in practical side and I don;t mean that to sound obnoxious as its not as I really want the help and support a forum offers but it would be great if I post analysis and trades and the feedback can come from that? Again not wanting to be rude but there are many noobs or non-profitable traders who offer textbook advice but don't actually follow through with it and so it sounds condescending - for that reason you wont see me offering anything similar to others on the forum although I will comment on their charts and where "I" think price may be headed.
As said above £400 means I will look to use 3% per trade so really I shouldn;t be starting above 0.40 on my positions.
I really do welcome your inputs and help so don;t be shy - let me have it - I don;t want to be downandout - I want to be a winner!!
I see myself as being a good analyst of price but always allow a full stop loss to be hit and never let a winner run.
It actually hurts writing this as I can see the issues I make and vow to never break them again but then if I suffer a loss I load up and gone.
I know these are my issues and only I can resolve them but I am going to start to journal my trading to see if that helps but also would like some constructive criticism from profitable traders if they see something glaringly obvious I am doing wrong going forward. I would really appreciate some input if you can spare the time to help a fellow trader achieve their goals.
I will not be going back to demo as I still have a whopping £400 in the account and so I think I just need to learn to reduce my position size which is around 1-3 lots and start to trade between 0.10 & 0.50. This way I still feel the emotion of real funds and hopefully build some stricter rules in to my approach.
I will use support and resistance and I like to sell retracements and buy dips in the direction of the 4hr trend taking entries of 1hr or 15m charts. I like double tops and bottoms and areas of resting stops again in line with the overall trend.
I will trade Eur/Usd and Gbp/Usd pairs mainly but will also look at Usd/Jpy and some other pairs from time to time.
Please do not post obvious flaws I have mentioned above that are straight from the text book, the theory side I know but have the trouble in practical side and I don;t mean that to sound obnoxious as its not as I really want the help and support a forum offers but it would be great if I post analysis and trades and the feedback can come from that? Again not wanting to be rude but there are many noobs or non-profitable traders who offer textbook advice but don't actually follow through with it and so it sounds condescending - for that reason you wont see me offering anything similar to others on the forum although I will comment on their charts and where "I" think price may be headed.
As said above £400 means I will look to use 3% per trade so really I shouldn;t be starting above 0.40 on my positions.
I really do welcome your inputs and help so don;t be shy - let me have it - I don;t want to be downandout - I want to be a winner!!