One element of this Holy Grail is your patience, I am starting to be quite sure.
It seems is sufficient to understand a few cases, when you can be sure 90-95%, should you exchange only several times / month an result at a profit it is better than be worried times with viewing charts or be employed or both.
Not need to exchange all the time.
Wait for a consolidation at a decrease timeframe ( 4h ) and proceed with a bias on high interval (daily weekly) management, and stick with position, until is no sigh at high timeframe to shut it. Those case are with Risk 1 Reward 6 -to those case can be implemented the golden rule: cut your loses and let the profit streak. At 5 min chart not so frequently.
Even mathematically established for myself long term I should use leverage based on win:shed success ratio and it should be a lot higher than 1% it will have effect on emotions: happiness on winning position, however if is heavy leveraged, than no sleeping, due to fear to never grow to be a losing one. Loser trades let it go and move a bit, but if is not coming back, than hunt for exit stage or just instant exit. It is sad to see how I dropped 2-3 week outcomes ( even if is still in profit the balance)
One of the pages reminds me, what I learnt -and - forgot- a few years ago: input higher timeframe. Don't use tight SL, because that will kill the account! Allow the SL state when the entrance it is not valid anymore. When it went in your leadership and is just another entrance, than proceed the SL where it should be now.
Jesse Livermore utilized to scale in: in 3-4 trades, but after that did not built up the position dimensions and is harmful, when the tendency is turning.
I should start with 1-3% risk, then when the SL transferred to BE or some profit add a second 1-3%.
Not sure yet how to deal with TP and with pullbacks.
Entering and Exiting frequently is not a Wise way.
Pullbacks can be indiion of end of this trend and that I should depart, but may be a tendency continue sign too.
This is the flow in my system. I don't understand how to handle correctly in long term, have to figure out, learn from others mistakes.
This biz is about 20% skill 40% money management 40% managing yourself your own emotions.
I'm not sure on those proportions, but in my experience that money management has about that importance as the ability.
With trade ability if it's possible to grab trades 95 percent:5% win lose ration ( really good) using a bad money management or simply does not raising the account optimised, or perhaps is going in negative! -even with that high win rate!
Managing myself and emotions, well, I have a weakness here. I believe he describes other article, which was similar to that: traders are payed to have patience - for entry and exits, or cut your loses and let the profit operate, not precisely the reverse, what Idid in couple past weeks: TP asap and let the losers come back - isn't a good feeling when a winner commerce turn around and become a looser one, which was my reason to shut it at first sign of weakness, or an imaginary sign. -need to alter it.
I've seen 2 method, which I enjoy it, demands improvements here , but may be the base of something. Today I saw exactly what I wanted to create: Jesse Livermore's sytem for forex here, but it deals the early phase of Jesse's trading style ( scalper) and I'd like to get out from scalping / intraday.
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