Keep Calm and Don't Move Your Stops.....

A little risk management saves a lot of fan cleaning!

The Purpose of Life is Joy!!

Thursday, November 21, 2019

I'm back, sort of

Its been almost two months since my last post. I had been winning non stop and I started to feel invincible and then I started losing and I couldn't stop. I drew down quite a bit and did not know why. In real time, the trades looked awesome but in hindsight, I was WTF!!

So I took some time off, came back a week or so later, did some market review, then did some sim trading for a week or so and then I started trading again last week.

Its been slow but good. I am being really picky with the trades and taking conservative exits.

I have been watching Sandy's videos and also this other guy on youtube that trades forex and the explanations between him and Sandy are quite different BUT the overall trade locations are nearly identical with similar results.

I began incorporating more of both of these this week with noticeable results. My second week back and I am up 2% on after having recovered all the losses last week.

Some of the speed at which I recovered losses was using Sandy's method of adding to winning trades. When I was losing, I was losing with small size and when I started winning again, I was winning with larger size. It was nice to see the losses be regained so quickly.

This week I am trading with single lots again. I didnt want to fall back into the trap of feeling like I was invincible so just taking it slow. Funny thing is, I am making way more money trading like this than I was before.

This is a four hour chart with the support/resistance gained and lost marked on it. Yesterday I was long about 40 ticks from the top blue line and took it off near the first untested resistance level inside the green sideways zone. It went a bit further but in all honesty, that was my biggest trade ever.



This was today's trade, much smaller but executed with near perfection. I figured the top of the near term channel would be taken out so I exited just a tick or two below that level and that is where it stopped at least for now. That was around 45-46 ticks I think with only one lot but I am very satisfied with that today. 

I've started using Trading View for charting as I like it very much and connects to my broker easily. I still execute on the broker platform but the drawing tools and visualization are much better on Trading View. 

Cheers. 


2 comments:

  1. Appears to be real progress there, very noice!

    ReplyDelete
  2. Nice trades! Got a link for the forex YouTube guy? :)

    ReplyDelete