STICK TO EXIT/PROFIT TARGETS AS SOON AS IT HITS TARGET CLOSE THE TRADE NO HESITATION

STICK TO THE PLAN LET THE TRADE RUN


EMOTIONAL CAPITAL TAKES MONTHS TO BUILD AND SECONDS TO LOSE PRESERVATION IS PARAMOUNT




THERE WILL BE NO SETUP THAT TELLS YOU EXACTLY WHAT TO DO - USE YOUR INTUITION




Friday, 24 August 2012

24th August 2012

Stop making the same errors or quit

This is getting ridiculous I was just writing about these mistakes I've been making and I've just done them again today.  Placed a crazy c/t trade that I hated as soon as I did it and I actually did it because I was reading some other crap instead of focusing which I have said loads of times.

STOP PLACING TERRIBLE C/T TRADES
STOP CLOSING TRADES TOO EARLY

Closed trade for +12 that went on to hit +40 with an MFE of 1

GOAL: DO NOT PLACE TERRIBLE C/T TRADES

Closing trades too early is tricky because I closed this trade at a strong ressistance area, this is when it would be useful to have multiple positions to close 1 and leave a runner.  I don't know how to manage this going forward with only 1 position.  The trade almost went back to B/E before going off again which is hard to watch after it hit +18.  I think I have to close at target and look for another entry.

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