I plan my trade and trade my system always no emotions!!! - futures io
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I plan my trade and trade my system always no emotions!!!


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I plan my trade and trade my system always no emotions!!!

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Leonardo
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If you do not have a plan, you should not be trading. It can be your own plan or someone elseís plan. It doesnít matter. What matters is that you have a plan and stay with it. The plan can be as complex or simple as you want. There is no right way or wrong way to make money. There is no right trading plan or wrong trading plan; rather there is a plan that makes more money for you then it loses for you. That is the test of successful traders. You hear it a lot. You hear a lot of things. But the most important attribute of consistent trading success is making a plan and practicing it itís called planning your trade and trading your system always no emotions.

Simple? Yes.
Easy? Absolutely not!


No matter how educated, intelligent or experienced you are in the world outside of trading you will not succeed as a trader because you have no control of the outcome unless you plan your trade and trade your system. That is the only control you really have if you think about it you have no more control over the market then that, thatís your only weapon. Once you take a position in the markets, you are in the territory of risk and it is your responsibility to embrace and manage the risk. Now you have what you always wanted one of the reasons you came to the forex market, complete control to do whatever you want. But really? like I said you have no control over nothing that happens in the market. Your only control is your freedom to plan your trade and trade your system nothing more. Novice traders may not entirely appreciate this concept but it is critical to plan your trade and trade your system to be successful.

Leonardo

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Leonardo View Post

[CENTER]No matter how educated, intelligent or experienced you are in the world outside of trading you will not succeed as a trader because you have no control of the outcome unless you plan your trade and trade your system.
Leonardo

If you are intelligent, educated and experienced, you have no control over outcome, but you appreciate that randomness does not lead to success. Therefore, the approach of many intelligent people is methodical and systematic.

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Leonardo
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mattz View Post
If you are intelligent, educated and experienced, you have no control over outcome, but you appreciate that randomness does not lead to success. Therefore, the approach of many intelligent people is methodical and systematic.

I haven't mentioned randomness yet this is one of the reasons I plan my trade and trade my system always randomness you just don't know...


Intelligent guess that makes me intelligent, I'm a systematic trader and I thought systematic was using a system or method; methodical i never knew you had to be intelligent, I'm learning already...

Leonardo

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Leonardo
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Consistency, Emotions, Confidence, Discipline

Most successful traders use a mechanical trading system this is no coincidence. A good mechanical trading system automates the entire process of trading.

The system provides answers for each of the decisions a trader must make while trading. It is easier for a trader to trade consistently because there are a set of rules which specifically define what should be done therefore the mechanics of trading is not left up to the judgment of the trader your system will control your emotions you need to find a system once you do you need to become a master (planning your trade and trading your system) follow it rigorously your trading will improve and you will start to gain confidence, and discipline and your emotions we'll start two evaporate your system will dictate what to do in trading will become simple and that's a good feeling and a business where every once is guessingÖ



Leonardo

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Leonardo
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Preparing for my trading each day

Buy low sell high always from support or resistance, I watch a 4 hour chart and a weekly charts just to see support and resistance I try to stay away from the news as much as possible when it comes to the news less is better for me I also concentrate all my effort on one currency EUR/USD this is the only currency I trade : more or less I know how many pips it moves per day per week per month and per year I think I've developed a good feeling for this currency for instance I'd notice that EUR/USD move 40 PIPS AT A TIME OR 60 PIPS AT A TIME ONE OR THE OTHER. this is mostly how I look at EUR/ USD...

For instance today 13080 + 40 = 13120 the high was 13117

To the downside 13080

13080 - 40 = 13040 - 60 = 12980 my target for today is 12980 will see...

Leonardo

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Leonardo
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Still holding 13080 the minute she touches 12980 support i close the position open 12980 for a quick 40 pips to 13020 that's my plan


Trading is the hardest easy money you'll ever make.

Leonardo

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Leonardo
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For most traders that are new or have less experience trading this is a very bad scenario a winning position becoming a losing position your mind starts playing tricks on you and then you start contradicting yourself and your plan and even worse you begin to think is a conspiracy and some even think their demons involved...LOL So you say to yourself i should have taken the profit i was too greedy all these thoughts couldn't be further from the truth. Remember all you did was make a decision based on your trading plan and your trading plan was 13080 to the downside profits 12980 is that simple for me this scenario is fine as long as i stick to my plan is the only way you'll have the courage to make big profits.

Based on my plan and the way I'd trade my system

13080 + 40 = 13120 + 60 = 13180 this will be the height of the day i will be adding to my losing position at 13180 to the downside I don't recommend adding to losing positions but to each his own and this is the way i trade.

Leonardo

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Leonardo
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So it hit my target 13180 not that I wanted it to hit it but nevertheless it did.


less recap this scenario

13080 +40 =13120 +60 =13180 (13180 + 40 = 13220

very unlikely that will make it to 13220 will see?

13180 - 40 = 13140 or 13180 - 60 13120 decision time either I close 13180 at 13140 for 40 pips or at 13120 for 60 pips or the full run for 100 pips at 13080 will see how it plays out was really important for me is that I plan my trade and trade my system no emotions.

Leonardo

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Leonardo
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Just as expected did not make it to 13220, hit first target 13140 trying to test second target 13120? I believe will get the full run to 13080 will see.

13180 -40 = 13140 hit first target, testing second target 13180-60 = 13120


Target 13080 will see.You need to have courage and total confidence in your own ability, without outside inputs. Just my opinion.


Leonardo

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Leonardo
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Okay mission accomplished 13180 target 13080 100 pips profit


Still have 13080 open to the downside


Let's see how it plays out 13080 -40 = 13040 first target will see.

Leonardo

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Leonardo
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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

Leonardo

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Leonardo
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still holding on to 13080 to the downside I think as long as we stay below 13120 I got a good chance of writing her to 12980 will see.

Leonardo

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Leonardo
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Let's recap to days trading EUR/USD


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.

Leonardo

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Leonardo
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Money Management

Most people donít 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 itís 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 donít 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 thatís a good feeling.

Leonardo

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Leonardo
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Forex trading should be somewhat boring.


You probably wonít 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 donít 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 donít feel your heart rate increasing when you enter a trade and you donít get angry when it did not go your way youíll be closer to reaching youíre objective making trading a career not a disappointment.



For most traders, they come into the markets because they think itís 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, youíre emotions get in the way thatís 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 McDonaldís 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 itís not offering any good trading opportunities for a few days, or even for a few weeks then itís 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 youíre 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.

Leonardo

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Leonardo
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Let's recap Fridayís trading EUR/USD

Iím still holding to 13080 to the downside itís 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?

Leonardo

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Leonardo
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Getting ready for Forex

The Whipsaw Song - YouTube

Leonardo

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Leonardo
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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

Leonardo

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Leonardo
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Trading is the hardest, easiest money you ever make.

Challenging my discipline: bring it on!!!

12980 I be waiting.

Leonardo

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Leonardo
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Mission accomplish 13080 to the downside target 12980 100 pips profit:
it took a bit more than a week:
I can live with that. As long as I follow my plan and stick to my rules.


No one can be sure of the outcome, the environment is too unpredictable?
But one thing you can be sure of is your control over your money management
use it wisely and throw a bit of patience and you do fine: just my opinion


New position@ 12980 to the upside for 40 pips the waiting begins.

12980 + 40 = 13020 or 12980 + 60 = 13040 not much more will see?

One or the other

12980 Ė 40 = 12940 or 12980 Ė 60 = 12920 not much more will see?


Of course if she touches 12880 up we go target 12980 keep in mind I have no bias I go with the flow of the market



Leonardo

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Leonardo
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Less recap she went up to 13080 resistance and down she went
I believe it was 12974 or 75 around the neighborhood not so import
the number thatís important here is support 12980


12980 support has been breach and it already has done its job and for that reason
I will not re-position myself there: keep in mind
Iím not recommending no one to trade. This is just my opinion in the way I trade.


Sidelines for now waiting for a good support or resistance.


12980 Ė 40 = buy @12940 and @12880

12980 + 40 = 13020 + 40 = sell @13060


Leonardo

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Leonardo
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Steady recovery above 13080, may see the pair attempting to test 13120 not much more will see?

New position@13060 to the downside target 12940 will see?


(Waiting for 13120 to the downside) (Waiting for 12940 to the upside)


12980 + 40 = 13020 + 60 = (13080) + 40 = 13020 not much more will see?

Or

12980 Ė 40 = 12940 Ė 60 = 12880 will see?

Leonardo

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