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My New Life (Getting Back On The Horse) As A Scalper


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My New Life (Getting Back On The Horse) As A Scalper

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  #1 (permalink)
Melbourne Victoria Australia
 
 
Posts: 7 since Sep 2012
Thanks: 5 given, 17 received

Hi Everyone,

Iím a past trader who was set in life and enjoying the good life when I did something very stupid (refused to adhere to a stoploss) and lost everything which shattered my confidence.

After many years of therapy and self determination I have come back to trading knowing that the system I am using is sound and I just need to execute it according to the letter and push through my emotions (bloody emoís).

The thing that has pulled me back to trading is my new family, Iím going to do what it takes (even if it feels like hell at the time) so that my partner and my little girl has the life they deserve.

The trading goal below may seem crazy for some but I have done it before and will do it again as it is only the first step of my goal.

Always stay focused on my goals and keep my focus on the present (next target) until the first battle is won.

Trading goal

To start with a standard contract (which with the current platform Iím with is around $200 USD) and make 5 pips ($50 USD) and then go to 1.2 standard contracts and so forth until I reach my goal of 50 points for the week and then reassess for the current week or following week.

The next ten targets for the week are as follows;

1 standard, 5 pips equalling $50 USD
1.2 standards, 5 pips equalling $60 USD
1.5 standards, 5 pips equalling $75 USD
2 standards, 5 pips equalling $100 USD
2.4 standards, 5 pips equalling $120 USD
2.9 standards, 5 pips equalling $145 USD
3.4 standards, 5 pips equalling $170 USD
4 standards, 5 pips equalling $200 USD
5 standards, 5 pips equalling $250 USD
5.5 standards, 5 pips equalling $275 USD

The aim is to get a solid foundation for the week and to compound heavily until the end of next week which will mean I am trading btw 40-50% of the account which is starting out with $2,000 USD.

Obstacles

Self talk-(which can be negative at times)
Inpatients-(can be too eager to get into a trade if I have noticed I have missed a few set ups)
Like to push the boundaries too often, this can have ill effects on my trading account.
Sometimes donít trust myself which has me avoid trades. (have to push through the scar tissue on this one).

System

I am a scalper so I determine the trend by using the 15 min and 5 min and then wait for draw back on the 1min and enter when 1 min aligns with the 15 & 5 min trends.

Up dates

Will up date on a weekly basis at least as I sometimes get distracted by my little one (4 month old) she is so dam cute.

And yes I am trading with a live account.

All the best to all the traders out there and may you all reach your goals.

Cheers

Itsallinthemind

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  #3 (permalink)
Athens - Greece
 
Experience: Intermediate
Platform: NT
Broker: ODL
Trading: EU
 
Athan's Avatar
 
Posts: 27 since Jan 2010
Thanks: 3 given, 9 received


Hi itsallinthemind,

more or less i m in the same situation as you re! I wish you all the best. Please inform this thread as often as you can!

Athan

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  #4 (permalink)
Melbourne Victoria Australia
 
 
Posts: 7 since Sep 2012
Thanks: 5 given, 17 received

Thanks mate and I will post as often as I can.

Cheers

Itsallinthemind

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  #5 (permalink)
Taipei Taiwan
 
Experience: Advanced
Platform: NinjaTrader
Broker: AMP Clearing
Trading: TW
 
Posts: 693 since Jun 2009
Thanks: 434 given, 461 received

Looking forward to your journal

Math. A gateway drug to reality.
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The following 2 users say Thank You to traderwerks for this post:
 
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  #6 (permalink)
Melbourne Victoria Australia
 
 
Posts: 7 since Sep 2012
Thanks: 5 given, 17 received

Hi Guy's/Girls,

Just a quick message as I'm setting up for the day (and the little one is having a nap), I must find the post I read and thank them but they where talking about Emotional release method which I looked at last night and did some of the techniques and it helped will all the emotional stuff that I have been holding onto but the one thing I liked this morning is when I looked at my trading plan I saw new avenues to enter which I saw before but couldn't enter with sound techniques but now I can enter with a sound technique as it just came to me and I have been fighting with this for awhile.

If you want to know what the metod is can someone who has the authority to recommend products contact me so I can let them know and then they can post it.

Cheers

Itsallinthemind

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