Quick note to self.
Looking back now after so many trades and the first thing i can say is have a plan and record everything you do and why you are doing it. It is very important to fine tune your trading plans, but you cant get better if you do not know where the mistakes are being made. Learn from others and see what works for you, but do not try to replicate exact trades of strategies everyone is complete different on their risk/rewards. EVERY trader will make different predictions looking at the same chart, same goes for pro traders. Charts, Lv2s, News everything will work if you do the research and figure out what works for you. My goal was to make money, however my goals have change and now they are simply to understand myself and work on my trading plan and rules. After all everything simply put is a 50/50 shot with higher possible outcomes only when you have an edge over understanding your patterns and behavior.
Learned a lot from Chat with Traders youtube channel highly recommended.
Again, forget about making millions right now. Work on your entry (method) so that 20 or 30 cent gain at least covers commission or close to it but be consistent (70%) doing it. That may take a few months but so what....the markets are not gooing anywhere. It's taken me about 2 years to really narrow things down. It can be really difficult to built a 100% yes or no entry method.
Some of my entries are obvious in that respect but then there are the 20% to 25% that have the 'gray matter' entry where it is not the best set-up but the odds (the chart, catalysts, etc.) still look favorable. Either way, study your notes and filter out what worked best, what worked worst and go from there.
I really need to proofread my typing a little better.... ;)
Right Palmer thats exactly what i noticed too big or hold too long. I have to filter out some duplicate trades on here, but pretty much it boils down to what you were saying. My biggest issue was wrong entry time and not changing strategies for the time of the day... i cant type so its all good men haha
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