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




Saturday, 6 October 2012

iphone notes


Monitor trend on 3m and 1m separate and update all the time on the screen

Log trades w/t type of trade/setup and trend on 3m and 1m at that point

Grade the setup on how good the entry was

Mark the most recent swing that you are using to gauge trend direction

Don't just analyse swing high /low look at the strength of the swing then pullback sometimes even if it doesn't break swing high low it still can give you a good sign

Feedback loop - what are you doing right and wrong in a trade, take out what's bad and keep what's good

Market replay - feedback loop

Try and put the entry trigger where the opposite traders are going to exit their trade

If price is moving it has a target - where is the target? Maybe use multiple scenarios

Mf breakout places his trades based on stop position - could look into this?

Look for structure on the 3m maybe look into just using 3m as trading time frame and get in on pullback on the 1m

Look into tradersmarts

Place price into the higher time frame context

Review process:
What did you expect to happen
What did happen
Why was there a difference
What can you learn from this


Use opening range s/r

Placebo effect

Taking positives out of all situations

The idea is to not make huge ticks everyday it is to manage risk and consistently make more than you lose. You can only take what is available and that is normally a lot less than you see in hindsight

Gartman letter - trade only with the major trend or do not trade at all - weekly charts looking at long trend only trade when a major level is broken

Start writing at the start of the week - views e.g. Risk on or off favour shorts or longs look at TGL

Stop choking - put things into perspective actions need to be fluid

Bandwidth - perception

Focus on managing risk more than profits - this will make profits in time! You are a risk manager first and foremost

As soon as you make profits you will go from risk averse to risk seeking - this is inevitable and it needs to be managed

Emotional triggers will make you change even more so than financial

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