I think no one can answer your question but you. You have to figure out what works for you. Nobody can tell you what to do, because if it works for them it doesn't mean it's gonna work for you.
But here is what I see in your videos. You enter the trade with target 2.5 points but you cannot hold your position over a smallest pull back. Maybe you should try to set smaller targets and see how often you can get it. I see that you are moving more and more towards scalping.
I think that in order to be profitable you have to have strategy not just for entries. Exit (stop and target) should be a part of your strategy. I think it's better when you keep it simple and don't hold your finger on "close" button. For example why don't you try to set your target for 1.5 points because it's your daily goal. Your stop is 7 ticks so your R:R is 2:1. Now you have to keep your win% good enough to stay in green.
Another thing. I think that closing trade with a couple ticks instead of taking loss is fooling yourself. You feel good about taking a small profit but then you see that it goes to your target. I think it's important to see if you are right or wrong about your entries in order to see how good they are.
What I'm trying to do for myself right now is keeping my R:R. My stop is 1 point and I don't want to take profit if it's less than 2 points. I do trail my stop to minimize my losses but I give the trade enough room to work out. In case if it didn't work I see that my entry wasn't good enough. Sometimes it's just market conditions and I will reenter if I get another setup in the same direction. Sometimes price stalls after your entry but you took that trade for a reason expecting price to move in that direction. You are not gonna loose more then your stop and that's amount that your are willing to risk for that trade according to your entry. If not, you should not enter at all. Then you wait for it to rich your target or prove you that you were wrong by hitting your stop.
When you are taking small profits your R:R goes down. If you are happy with smaller profits then set you profit for smaller amount. It will rich it faster and it probably will give you better win%. And this is how it works. If your R:R is higher your win% can be lower, and if your R:R is low you have to keep you win% pretty high.
Another thing I wanna say is about turning winning trade to looser. You talk about that all the time. Well for me it's not a winning trade if it didn't go over 2 points according to my strategy. So if it hits my stop before that I was wrong about my entry.
This is just some food for your brain. I hope it helps in creating your strategy.
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Vovan, thank you so much for your analysis. It seems to me I should stick with my ATM strategy (maybe adjust the target as you said) and not scalp. Instead I will focus on entering into high probably trades and not ones that "are close."
This will be difficult for me. A trainer I had harped on "cut the losers quickly." I am thinking so hard about this now that there is smoke coming from my ears!
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I cannot tell you what to do. And I don't want to get you on the wrong way.
What I'm saying is to try make some changes in your trading and see how that works. Don't be afraid of experiment and try to relax. You can always go back to the way you traded. The way I'm thinking "If I'm not profitable I'm doing something wrong. No one can fix it but myself. If I keep doing the same mistakes every day they are not gonna fix them self. I have to change something in my trading and try to do as less stupid things as possible".
It's just an advise. You are the only one at the wheel.
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What I have found is that the days I talk more and explain more verbally, the better I actually do. I think it depends on the person. Recording your trading is a great tool in my opinion. You should try it if you haven't as it is good for review in my opinion.
The following user says Thank You to bluemele for this post:
I'm not a professional, but still...don't try this at home!
I didn't see setups this morning, but as my trading period came to an end...I went a bit crazy and placed 3 losers. Nice lesson; no setups no trading no problem-o.
Went on errands, came back to do home work...and there were setups. Two shorts for over 6 points total. On the long run I told myself I wouldn't exit until the mid charts indicated so. That was an exercise in patience.
Leaving for the errands, I didn't have a problem with being down 3.8 points. I was telling myself trading should be easy. Not simple, but easy...like Jeter playing baseball...he's relaxed and makes it look easy.
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