So what changed? and what was the result.
A couple of things.
Firstly I found a strategy I like and have been sticking to it (mostly) over the past 2 weeks.
Secondly I have been taking what money the market shows me and putting it in my account.
If you look at my profit graph you will notice a change in direction. it is actually slightly better than what it shows. For some reason some trades I uploaded are not showing in my stats or graph...if anyone knows why, could you let me know why please.
This direction change is due to sticking to a strategy (for the most part) and then getting up and walking away from my desk when I have traded my pre determined tickers which I choose pre market.
Experienced traders often say 'stick to your plan' and it makes sense but one really powerful reason that didn't really hit home until I started doing it is this.
Confidence...Confidence in your plan can only come if you trade it and you see results. Its hard if you you trade your original plan for 40% of the time and trade other stuff 60% of the time. If you have relative success trading your plan but typically always lose trading something else your overall P+L could be negative which also adds a negative outlook on how you have been trading. Well it did for me anyway. Which in turn stops you building confidence in your plan/strategy. The more you do it the more you trust it the more money you make. This is what I have noticed anyway.
I have not stuck to my strategy but I would say 90% of my trades the past 2 weeks have been part of my strategy and I have finished up both weeks which is a first for me (also confidence boosting). I'm less than 50% win on the stuff outside of my strategy and 70% win trading it...
So more of the same from me in the coming weeks although i will be trying to hold on a bit longer before I take profits...but I always keep in mind that nobody ever went broke from taking a profit.
If you are struggling and trying to find your way and finding you are trading all sorts of stuff for various reasons. look for a strategy you like, one you understand and one that if you keep to will reward the rewards you are looking for from this job.
Hit me up with any questions and the answer to mine if you know it.
Good trading to you.
It seems to me like you are kind of a (don't take offence) scalper. One key part of the strategy is letting your winners run until they hit your reward point. Judging from your trades, and assuming you stick to a 3:1 ratio, then your most recent trades have $2 risk, 6$ reward. $4 risk, $12 reward...etc. Let your winners run. Not every pick is going to run 100% in one day, its about the 10-20% profits 70% of the time, and the 5% losses the other 30%. It's a win-win. Have confidence. And remembe
Remember that losses are part of the game.
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