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Keep sharing! I made some rules to follow before I enter trades. It helped today as I traded less. Consider having your loss limit lower than your profit target. I am also working on that.
What risk reward ratio are you using in your trades or at least trying to follow?
Distraction
While no significant distractions were noted, be careful to monitor for possible distractions which could affect your decision-making process.
Misread Market/Wrong Side of Market
In some posts, you've gone against the main trend, which can lead to losses ( Post #890392, Post #890640). Fuel your trading system with insights and try to follow the trend rather than combat it.
Removing or Altering Stop Loss
It's noted that you sometimes alter your stop loss limits during a trade ( Post #891034). This can negatively impact your risk management strategy and lead to larger losses. Try to avoid this practice.
Behavior Patterns
There's a pattern of overtrading, which can often result from a lack of discipline or emotional trading ( Post #890640, Post #890780, Post #891034). Try to identify what triggers overtrading for you and develop strategies to manage it.
Actionable Advice
Based on the patterns observed, I recommend improving adherence to your trading rules and your discipline. You may find it helpful to review your trading plan before each session as a reminder of the rules in place.
You're doing a great job identifying market trends and breakout points and taking steps to limit losses. Remember to learn from your mistakes and continuously adapt your strategies based on past performance.
Do continue to post your trade summaries and updates. This not only helps you reflect on your trades and learn from them but also helps me provide more specific advice in the future.
11.03.2023 - 11.07.2023 : No trades or trading sim here and there .
Busy with IRL/work stuff so no trading with distractions. Currently re-reading the big loser, I'm going to create a power point slide deck to help me remember my rules, so in theory I would like to read it before and after a trade.
Thanks for the heads-up, and I'm glad you like what the AI had to say, when it got the right person ( ).
As it turns out, we'd already seen this. I found the issue a few days ago in your thread and also in @Rcap's. I'm sure there were others, but those were the links I checked:
I checked all the new links, and they are all to the right people (the thread starters).
Bob.
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FYI, it's a good idea to keep track of what's happening in the changelog thread. New stuff gets announced and discussed there, and it's the best place to report a bug or an issue, or feedback on anything about the forum, actually.
Mike will be working on the Oracle AI now that it's had a couple of runs, and there will be changes in the future. At some point it will become a more steady aspect of the forum, not just something being tested. In the main, people do seem to like it so far, and I agree that the specific advice is generally good and is very actionable, which is what people want.
Thanks again for the feedback.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
11.10.23 & 11.13.23 - still getting caught on buying higher highs... going to be more aware about it tomorrow. I'm did DCA a few times, but I got out quick. I don't want to get back into the habit of over holding a losing position. Try again tomorrow and work on good habits.
I thought about trying mnq last night ... did it this morning, yup its hard no for me lol... two trade had their s/l hit at 80 ticks, wow.
I did increase my contract size today, but I kept it under control. I entered on higher high once, and I did dca on it. Luckily today was trending day, so I was able to recover from the mnq loss.
Tomorrow's goal is to just focus on base hits, forget about p/l. No DCA and no getting in on higher highs/fomo chasing.
).