I financed another account a few weeks ago and have lost 62.22% since May 13th. I have likely lost because 2011 in the region of # 3k and still I make the same mistake again and again. That mistake is MM and standing dimensions and of course the dreaded anger trading.
I see myself like a fantastic analyst of price nevertheless constantly permit a full stop loss to be hit and never let a winner run.
It actually hurts writing this as I could see the issues I make and vow never break them but then if I suffer a loss I load up and gone.
I know these are my issues and just I can resolve them but I am going to start to diary my trading to see if that helps but also would like some constructive criticism from profitable traders should they see something glaringly obvious I am doing wrong ahead. I would really appreciate some input if you can spare the time to assist a fellow trader attain their objectives.
I will not be going back to demo as I still have a whopping #400 from the account so I believe I simply need to learn how to decrease my position dimension that's around 1-3 lots and start to trade between 0.10 0.50. This way I still feel that the emotion of funds that are actual and build some stricter rules into my approach.
I shall work with support and resistance and I like to sell retracements and buy dips in the direction of the 4hr trend taking entries of 1hr or 15m charts. I like tops and bottoms and areas of stops in accord with the trend.
I shall trade Eur/Usd and Gbp/Usd pairs mostly but will also look at Usd/Jpy and some additional pairs from time to time.
Please do not post clear flaws I have mentioned previously that are directly from the text book, the theory side I know but have the trouble in technical side and I don; t t mean that to sound obnoxious as its not as I really want the help and support that a forum provides but it would be great when I place analysis and transactions and the feedback can come from that? Again not wanting to be rude but there are many noobs or non-profitable traders that provide textbook advice but don't actually follow through with it and so it sounds condescending - for that reason you wont see me offering anything like other people on the forum though I will remark on their charts and where I presume price may be headed.
As said above #400 signifies I will look to use 3% per trade so really I shouldn;t even be starting above 0.40 on my positions.
I really do welcome your inputs and assist so don;t be shy - I want to have it - I don; t t want to be - I want to be a winner!!