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I plan my trade and trade my system always no emotions!!!
Still holding on 13080 I'm going to try to get the full run on this one two
13080 - 100 = 12980 the minute she touches 12980: i close the position
and all buy on support 12980 + 40 13020 for a quick 40 pips will see
I'm still holding on 13080, it's beginning to look like we're going higher
broke through resistance at 13080 next will be at 13120 will see?
13080 + 40 = 13120 + 60 = 13180 don't think so will see?
Or
13080 -40 =13040 -60 = 12980 will see?
I been holding on 13080 for a while now she's been on the positive, then on the negative waiting for that 12980 to come around
for me this is the disciplined and patience I must have to make big profits and follow my plan. if 13180 comes around all be adding to my loser once more,
not recommended for new traders need to have a feel for the market to do this and a lot of trading hours just my opinion.
Most people don’t spend nearly enough time concentrating in developing a money management plan? It is something that all of us have the ability to develop and employ in the Forex,
it doesn't cost any money to develop and it’s the single most important ingredient to trading success. Over-leverage equals bad money managed and that is the number one killer in the Forex.
If you don’t develop your money management skills and consistently utilize them on every single trade it will be extremely difficult for you to become profitable and a business where everyone is guessing.
That's why I was able to add to my losing position.(13080) and open a new position at (13180) with no fear or emotion I replaced my fear and emotions with a solid money management plan.
Remember either they're with you or they're not you need to be prepare and a business where uncertainty is the name of the game.
My trading is based on a set of rules: Patience Discipline, Repetition, Money Management and a trading plan.
And those rules have given me total confidence in my own ability, without outside inputs and that’s a good feeling.
You probably won’t hear that a consistently profitable traders methods are boring, because everyone just assumes its super awesome. That isn't always the case, As a natural result of doing the things that it takes to trade successfully, like being disciplined, patient, having a trading plan, etc., you aren't going to experience the highs and lows that many amateur traders experience on the way to blowing out their trading accounts. Instead, a pro trader is rarely surprised by any result in the market; they were prepared for any outcome because they had a plan before they entered the Forex. It should essentially be a non-emotional event like going to work each day. You don’t get super emotional at work every day do you? Once you reach a level where you have eliminated the emotions from your trading and you don’t feel your heart rate increasing when you enter a trade and you don’t get angry when it did not go your way you’ll be closer to reaching you’re objective making trading a career not a disappointment.
For most traders, they come into the markets because they think it’s an easy way to make some fast money, unfortunately, the reality is quite different , the more you want and need to make money in the Forex the less likely you are to do so. Is ok to be passionate and enthusiastic about trading, but for most traders they simply let those feelings influence their trading decisions too much. When you are excited about a trade, you’re emotions get in the way that’s very bad in a business where uncertainty is the name of the game. You need to have patience to develop your business plan, like in any other business for example you think that McDonald’s started with hundreds of restaurants? No they started with one in build up their business. I think this is the way to go have a business mentality start growing your account at a respectable pace you have to take what the market is offering you, and if it’s not offering any good trading opportunities for a few days, or even for a few weeks then it’s not. Just accept that the market is not going to provide you with a high-probability - trade setup every single day, the skill of being a great trader lies in sitting on your hands and having a very sharp eye and good timing for when to enter and when not to enter.
One of the most important tools in your trading resource is not you’re trading software, indicators, or multi-screen if you cannot manage to conquer yourself and your own mental mistakes that are causing you to lose money in the markets, you will never make consistent money you need to combine that self-mastery with a high-probability trading strategy to become a successful trader.
I’m still holding to 13080 to the downside it’s been a week now still waiting for my target @ 12980?
On Friday it closed at 13050: once the Forex reopens will see what surprises has in store for me this week,
I will still trade my original plan. I plan my trade and trade my system no emotions.
13080 - 100 = 12980 the minute she touches 12980: I will close the position
and buy on support 12980 + 40 13020 for 40 pips will see.
Third week of April
100 pips positive
0 pips negative
One position still open?
Still holding to original plan 13080 to the downside, a break below 13020 should lead to a quick slide towards 1.2980,
once she touches 12980 I will close the position open a new position 12980 to the upside for 40 pips will see how she behaves.
Steady recoveries above 13080, may see the pair attempting to test 13120 not much more will see
