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staying in the trade to the target
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staying in the trade to the target

  #11 (permalink)
Auckland, New Zealand
Futures Experience: Master
Platform: MetaTrader
Broker/Data: Pepperstone
Favorite Futures: Forex
TraderRach's Avatar
Posts: 21 since Oct 2012
Thanks: 8 given, 26 received

Gain confidence in set and forget and fill your time with what you enjoy

Hi Ross

If you've tested a set and forget approach and testing shows it to be profitable, then you must take confidence in that. This approach does work if done right. Interfering with your trades in a way that wasn't tested and otherwise being inconsistent is a place where progress stops. Without consistently applying your strategy you may feel overwhelmed not knowing what works or what to do. Confidence can be lost and you may repeatedly blame yourself for different actions which can make you feel bad. That is a bad place to be. Test your plan and then trade your plan. If that plan includes set and forget then just do it.

Put in your entry, stop, target. Then walk away. Turn your broker feed off to avoid temptation. Fill your time with something you enjoy.

If you consistently apply this approach and your account balance goes up you will gain more and more confidence to leave your trades.

The set and forget approach can be very liberating. You just need to spend the time finding the set ups and then after that your time is your own to enjoy.

Cheers Rach

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