@vovan348 sent me a private message. He mentioned that I am 'blaming' the market in my post which I believe him to be accurate.
The lack of clarity I had was completely my own responsibility and like @HighRise1202 showed, I could have opted to stay out.
If you guys want to watch Horst on not the best day trading the ES, this is it. If you do not believe him to be legit then why would he post this? (Not that I need to prove it to anyone, but I just enjoy sharing)
Bluemele, yesterday you said you didn't like the BBs on a big chart. Horst said the indicators were out of sync. I said I saw mixed signals. It seems to me that all translates to, "Danger, Will Robinson!" It's also a validation that the indicators work.
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Use no more than a 2-point stop in most cases, and do NOT move them. If you are wrong, take your hit and look to make it up on the next trade. Moving your stop will end your trading days very quickly and is the worst habit you can form, unless of course you are tightening it, which will actually improve your money management!
I think you should keep your stop where you think price should not go!!! If it took you out you were wrong and should wait for the next setup.
Look at the fibs on the higher time frame. Why that short was a surprise for you? From the deep it went to 38%, then pull back, then to the 50% and so on.
I know you are better than this. Get yourself together!!! You did go with direction, but you couldn't stay in the trade for 9 times. Common dude. It seems like you got some separation from the rail. Get back on!!!!!
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Yes, some days moving the stops costs me. I would say probably 60% of the time, but sometimes it 'saves' me. The only stops I move though is to 'tighten' but before I let it breathe. Today it cost me. For sure.
Well, today was a day of experimentation, but I will count it towards my totals. It seems like if you change up even the smallest things that your trading goes to hell in a handbasket for a little while then it gets smoothed out. Maybe I am wrong or there is a way to avoid this, but not sure.
Large Drawdown with a late game recovery. My old habits I would have probably been up about 1.3 points and called it a day OR I would have left this trading today at -3 ticks after my 8th trade. My usual method is more about capital preservation than profit making and it shows.
The opening session is a lot of ranging, then a nice run after 10am EST. That is fine, but I was confused as I thought it was going long.
The sad thing is that I did my best to just leave my stops, and let my profits run. I did it until I kept getting knocked out, then I went back to 50/50 of that.
I was taking trades in terrible locations and I was trading scared after a while.
I am changing the way I am trading and that is why I am not profitable I believe or that my losses are larger. That is OK for me now as I have to get to 3 points per day average and right now the 2 points aren't cutting it.
Oh, so my 3 major things I am working on as mentioned:
1. Leave stops (75% today)
2. Let profits run (had 2 good targets on short and got out at first, but 2nd time short at end was not patient)
3. keep trading even after I have a profit and feel fresh (Good today as I stayed in the game)
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