What has been working for me is that I only allow myself to watch the market for a day if I violate my rules for two consecutive days. That is a serious punishment sitting there but not having the ability to fire.
“Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” Δ
The following 2 users say Thank You to Mtype for this post:
Makes a good sense, but depends on the style of your trading. I have realized my monthly target can be made by 3 good days per month. That's it. Most of the days are more or less threading water. Big days come from big moves. You can't squeeze 100 ticks out of 60 ticks range, this is plain silly or you must be a god-like trader. But you can get 40-50 out of 100 tick move for sure. With two entries and second trade reusing the equities from the first trade, you can get 90 ticks or so. So my plan is to mostly sit on my hands if market chops like yesterday and today. Unless market moves directionally OR it produces very well defined top or bottom where I can enter with a razor thin stop and re-enter several times if needed.
Trade to live. Not live to trade.
The following 2 users say Thank You to xelaar for this post:
After much deliberation, I have decided to simply continue the old blog I once had for years as a forex trader. I will show my roots and my journey as a trader to anyone interested. I have made an introductory post explaining my project.
Just read your blog. It's great!
All the best with live trading.
May I know which broker are you going to use for DAX trading?
What's the required margin for each DAX contract?
What sort of commission are they charging for each DAX contract?
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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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