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Sabrina's Trading Journal

  #61 (permalink)
DjRonin
La Serena - Chile
 
Posts: 144 since Feb 2017
Thanks Given: 51
Thanks Received: 92


sabrinavvv View Post
But the thing I want to remind myself is to not chase a trend. Instead, do what the institutions are doing- buy support sell resistance... as long as the entries are reasonable, I will at least not lose... Not losing is the 1st step...

Losing is part of trading, accept to become a GREAT loser, because it's all about it, being a great loser maintains your loss low and let your win go. I can accept to close a loser and eventually buy lower (or sell higher) if market proved me wrong, AND if i get the signals needed for an entry.

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  #62 (permalink)
 sabrinavvv 
Philadelphia, Pennsylvania, United States
 
Experience: Beginner
Platform: NinjaTrader
Trading: ES
Posts: 52 since Dec 2015


DjRonin View Post
Losing is part of trading, accept to become a GREAT loser, because it's all about it, being a great loser maintains your loss low and let your win go. I can accept to close a loser and eventually buy lower (or sell higher) if market proved me wrong, AND if i get the signals needed for an entry.



Got it, thank you!


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  #63 (permalink)
 
aquarian1's Avatar
 aquarian1 
Point Roberts, WA, USA
 
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Platform: IB and free NT
Broker: IB
Trading: ES
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sabrinavvv View Post
Hi @dralion, glad to see you are doing good on your combine!

I have a question and it troubled me for a long time... I would have a big winning day followed by an even bigger losing day. And I see the similar problem on your daily P/L chart too. Could you, or anybody who's reading this post, share some experiences on how to adjust oneself in order to avoid losing big after winning big?

Many thanks in advance,

Sabrina

Perhaps you could
1. Note your average day eg. +$250
2. Your big winning day e.g. $750

Look to limit the day following a big win to your average day $250.
Before entering a trade look at the $250/ pts = 5pt stop (ES example)
Enter a horizontal line on your chart at the 5 pt stop.
Enter a horizontal line on your chart at your target.
Ask yourself :
"are the odds of the trade traveling to my target better than traveling to my stop?"
If yes take the trade
If not stand aside.

If stand aside - then repeat process waiting for a good setup

-----------------result-------
If you take the trade are stopped out stop trading for the day.
If you take the trade and win repeat the horizontal line questioning process (not increasing the stop e.g. 5 pts).
--------
If you take a second trade are stopped out stop trading for the day.
If you take the trade and win repeat the horizontal line questioning process (not increasing the stop e.g. 5 pts).
-------
If you take a third trade are stopped out stop trading for the day.
If you take the trade and win repeat the horizontal line questioning process (not increasing the stop e.g. 5 pts).

etc

..........
peace, love and joy to you
.........
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Last Updated on March 19, 2017


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