A Newbie Journey To Financial Freedom -
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thread: A Newbie Journey To Financial Freedom

  1. #11
    PLAN

    The case not adhere to plan

    AUDCAD



    The transaction plan is:
    #1 [email protected], Risk=1%(as Counter Trade), [email protected], [email protected], Lotsizes=0.22
    #2 Should Day Closed over Pre-Fractl, then open #2 Order, Risk=1%, [email protected], [email protected]

    however the afternoon shut is @0.9723 2017.12.12, it's too near to the TP goal or week resistance. I did't execute the plan.


    today I am only able to sit to observe the price go up higher.

  2. #12
    #3 Learn Quotations Daily 1- the ideal way to battle problem with trading pshcology is by making a trading PLAN and STICKING to it. 2- do not try to stand in front of the PRICE, then expect if it to stop and suddenly go the other way... even if it's moving slow. 3- always know all of the trend of the time period u are trading AND know which portion of the trend you're in. 4- FORGET ABOUT REVERSALS - that is high and bottom trading which just LOSERS trade. 5- the greater time period RULE the Lower 6- the ideal indior for whatever is between your ears.
    #3 Learn Quotations Daily

    1- trading isn't a Get Rich Quick Scheme
    two - there's no Shortcut to becoming successful and profitable traders.
    3- successful and profitable trading is 95 percent Psycology and 5 percent technical skill.
    4- after you're eaten up, chewed and spat out in small pieces, you will learn that you don't ever control of your emotions and you Alawys must be ON GUARD.

  3. #13
    #3 Learn Quotations Daily

    1- to trade the long term tendencies we have to BELIEVE that we have our plan right and be prepared to SIT it out before it tells us we are mistaken. Most of the time we'll make it wrong and get stopped out at break even or at minimal % risk. The couple times that we get it directly make up for those erroneous times a thousand times over
    2- Another point, a trade is put on as part of a plan (PLAN THE TRADE). When the trade is entered, the trick is to TRADE THE PLAN. If you are trading the Daily chart, then TRADE THE DAILY chart - forget about how many pips you are up or down, your plan manages that.



    How to Manage NZDUSD trade?
    A. sit to do?
    B. depart, because close to the R level and not split the Resistance?
    C. move stoploss in 2-Bars below?

  4. #14
    Tempt
    - Don't be TEMPTED
    - What you need to bear in mind is that trend lines, fibs, support and resistance are NOT EXACT.
    - Don't be in a rush to trade. Allow the market reveal it's hands and jump onto it's backagain. You don't need to get in at tops and bottoms on the Daily time frame.
    - To be sure, it is wise to wait another day to make sure the trend has truly reversed.


    at week chart a shooting star look close to the Resistance level, so that I feel the Resistance level is strong.
    At afternoon chart a BEOB look close to the week Resistance. I was TEMPTED, not another day waiting.

    The LESSON Learned:
    1- NOT trade in the direction of trend
    two - erroneous ENTRY STRATEGY: use PEND STOP order to entrance

  5. #15
    #3 Learn Quotations Daily

    1- I take that I'm wrong and I take thant I'll have losses.
    Two - the secret is to restrict your LOSSES so that your wins are always far greater.
    3- Forget about thinking just how much you'll win and rather concentrate on just how much you will LOSE.
    4-”HOPE” is not an ingredient at the traders' success recipe? If I'm”hoping” for longer this means GREED has raised it's ugly head .
    5- We must be very careful not to over-analyse and over-think

  6. #16
    #3 Learn Quotations Daily
    1- Thus much success with your trading you will feel as”you can walk on water” - that is definitely the most dangerous time.
    2- Trading is easy, trading plogy is tough

  7. #17
    COURAGE

    We Ought to have the COURAGE to re-entry.

  8. #18
    Junior Member ElTipkEmsi's Avatar
    25
    COURAGE We ought to have the COURAGE to re-entry. image
    when to market nu?

  9. #19
    quote when to sell nu?
    I'll give you the response Dr. Joe gave Strats - Economy When the PRICE are moving down!

  10. #20
    GBPUSD TRADE - 20171229

    #1 - Analysis

    1) BOSS

    a. 20EMA over 50EMA

    2)WORKER

    a. 20EMA over 50EMA
    b. BUEB

    #2 - PLAN

    a. Pend buy stop over Greater BUEB
    b. Risk=1%
    c. [email protected], [email protected], RR=1:1

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