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Bucharest, Romania
Posts: 5 since Aug 2021
Thanks Given: 5
Thanks Received: 6
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Hi,
First of all, I have found here a great community and a great source of inspiration ! So keep up the good work !
After 4-5 years I'm still struggling to find a way to be profitable and make money from trading, tried a lot of indicators, methods, nothing works...obviously no risk management, no plan, no more focus on position size and things like that, only my eyes on how to make 500 ticks and so on, 2-3 wins and after that 10 loses...a nightmare.
Tried to make a trading plan and journal...as you think, a total fail, I over complicate things.
In last few months I move my attention to trading psychology, meditation, risk management, start to make an easy strategy and a clean and easy plan, backtest my strategy.
Things start to have shape so I decided to make first step, FTMO.
I will use the VWAP with 5 standard deviation.
Buy on -5 / -4 and -3 and sell on +5; +4 and +3, having likely destination VWAP -- This is something similar with a strategy developed by a guy called "Jerry Perl"
This guy used market profile and make his entire trading decisions using POC and VWAP.
For risk I want to use 0.5% from entire account balance.
I have make my calculations for drawdown risk and risk per day, per week and month, so it will take me around 22 losing trades in a row to have a 10% drawdown.
I have a profit target too so do not overtrade so I have a profit target of 1.5% from entire account balance so somehow 2 - 2.5 R/R if i don't make a wrong calculation.
My short term plan is to become profitable, to make this as a full time trader.
I'm trying my luck to say so, with an FTMO challenge because my main problem is discipline or having bad times when I learn how to be my own boss, that's the main problem and concern.
I don't know how respect my daily routine and how to be organized because I understand that trading is a game of mind and patience .
If you have any tips or what method did you use to stay discipled ,organize and how to have that kind of patience to stay in front of chart and wait for my move, it will be very useful for me and obviously if you have and recommendations for me, I will be very happy to try and learn from you !
Many thanks !
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