Execution Score: 4
At open saw big charts 1597 and 4181 with strong V's down. Price came to double top. Took trade at open because down trend was so strong.
Emotional Score: 4
Thought, "OK, you're not being serious taking a trade at the open. No...that's not right. I don't care how the trade goes. It's just a trade and I see good enough indicators to enter."
Execution Score: 2
A good signal fired just after the open, just like yesterday. I did not take it because I had "Fed day beware" in mind. Price went as the signal predicted, and 7 points to boot. Second trade was on weaker signal and against the trend. Stopped out. Third trade I added on and trade was OK. Fourth trade I added on and it stopped out. Final trade I added on and it went well.
Emotional Score: 2
I was unhappy I missed the first trade and went into catch up mode. I had the patience of Job and finally saw the market drop as predicted.
Successfully predicted this would be a trending day. I used overnight range size, pre-market news, and DAX range to predict. Waited in anticipation of repeat pattern from yesterday; price rises several points at open, then reverses for nice run down. Price did rise 4.5 points then reversed. Signals for a reverse were S/R line, MACDBBLine seperation, trend line hit, and bar setup (baby bar reversal). I felt I did a good job managing the runner, a difficult task for me.
Emotional Score: 4
Started to breath deep when I placed the trade, but otherwise calm.
**Execution Score: 3**
Traded against trend. No ATM setting. Took big time heat and added on at trifecta level (where a TL, S/R, and deep Fib met)
**Emotional Score: 3**
Got nervous after entering trade. Felt light of breath. I KNEW price would come down after big rise, but gee, am I clairvoyant or stupid.
OK, I'm tired of my reckless SIM trading, even if I finish in the green. I'm taking the advice of a futures.io (formerly BMT) member and going to trade spot forex micro lots with cash for real experience. I'm starting out with MB Trading and the Metatrader platform. May try NT.
I always advocate ditching sim as soon as you have an understanding of how your platform works. Risk $5.00 a day in spot forex, put even the smallest skin in the game, that is when your learning actually begins.
Keep risk at a minimum. I would say $5.00 a day is enough. You can do this with micro lots in spot forex.
Forget about the $$ win/loss, focus instead just on percentages and return ratios. Risk $5.00 to make $15.00 for example, that is an excellent percentage return. Later after you have demonstrated the ability to be consistent, you can start risking more, and eventually move to futures cash.
Also, FXCM and NinjaTrader are partners and just formally launched their service, if you want to consider using them.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
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