Hi Traders,
I just want to use this time to touch base on a few things, first and foremost all of my technical analysis is by no means a signal service. I post up my analysis for those who trade their pairs, time frames, patterns, or can use this analysis which may add to probability for their own personal strategy/system.
The biggest problem in trading with most new traders they dont want to miss out on a trade, and simply see idea's and think that they are all 100% Winners. They automatically think they need to enter, then lets say it wins, Yey this is easy. Then they start to pick up bad habits. So they enter again and it loses and loses again and again. They jump from ship to ship and keep losing.
If the analysis meets your rules for entry then by all means take the trade, a strategy if traded consistently can produce good ROI if traded consistently. So lets say you see some patterns I publish, I dont have the time to post up all of my trades because sometimes we just dont get time to publish them during trading.
If I lose a trade, I look for the next opportunity within my 4 pairs. We all know that sometime we will take a draw down, our back test and forward test results show us how much we will expect to have in draw down periods, we also know how many maximum losing trades we should expect.
I have no subjectivity in what I trade, I just place the order because the signal is there.
You can't blame anyone in trading view if you see their analysis and take it just because you want to be involved. If it meets your rules in your trade plan, and is within your strategy then by all means accept a win or a loss.
Im not writing this because I have had any messages - but simply to let others know that its important to have a trade plan
If you dont have a tested verified and repeatable strategy, trade plan, money management skills, then I suggest stop trading immediately. It will only get worse if you dont understand all aspects of trading. Find a good mentor/educator for a style you wish to trade and study very hard.
I only trade 3 Currency Pairs in one of my strategies, and only one other currency pair for another strategy.
Only use my analysis if it meets your rules. Enjoy and Happy trading
I just want to use this time to touch base on a few things, first and foremost all of my technical analysis is by no means a signal service. I post up my analysis for those who trade their pairs, time frames, patterns, or can use this analysis which may add to probability for their own personal strategy/system.
The biggest problem in trading with most new traders they dont want to miss out on a trade, and simply see idea's and think that they are all 100% Winners. They automatically think they need to enter, then lets say it wins, Yey this is easy. Then they start to pick up bad habits. So they enter again and it loses and loses again and again. They jump from ship to ship and keep losing.
If the analysis meets your rules for entry then by all means take the trade, a strategy if traded consistently can produce good ROI if traded consistently. So lets say you see some patterns I publish, I dont have the time to post up all of my trades because sometimes we just dont get time to publish them during trading.
If I lose a trade, I look for the next opportunity within my 4 pairs. We all know that sometime we will take a draw down, our back test and forward test results show us how much we will expect to have in draw down periods, we also know how many maximum losing trades we should expect.
I have no subjectivity in what I trade, I just place the order because the signal is there.
You can't blame anyone in trading view if you see their analysis and take it just because you want to be involved. If it meets your rules in your trade plan, and is within your strategy then by all means accept a win or a loss.
Im not writing this because I have had any messages - but simply to let others know that its important to have a trade plan
If you dont have a tested verified and repeatable strategy, trade plan, money management skills, then I suggest stop trading immediately. It will only get worse if you dont understand all aspects of trading. Find a good mentor/educator for a style you wish to trade and study very hard.
I only trade 3 Currency Pairs in one of my strategies, and only one other currency pair for another strategy.
Only use my analysis if it meets your rules. Enjoy and Happy trading