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Psychology and Money Management

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New to Futures, but Hitting the Wall

  #29 (permalink)

Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: GC, CL, Currency Futures
Posts: 3 since Mar 2019
Thanks: 41 given, 1 received

my 2 cents:

Trading is counterintuitive complex game versus the beast that knows all your weak spots. But it is possible to master. Don't give up, believe in yourself.
1. stop trading immediately! for a while.
2. go and walk through historical charts, look for clues that form true signal vs. false breakouts.
3. form a hypothesis of your new augmented strategy.
4. go through mannual backtest over historical charts. do the work. no shortcuts.
5. when you regain your confidence get back to the markets and trade smallest size possible, nothing wrong with the micros for a while.

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