Why do you trade? Consider writing down your personal trading goals.
The following are my personal Trading Goals & Motivations (taken from my trade plan).
Goals - Consistency
1. Focus on the process and let the results happen
2. Think in probabilities and whether I followed my plan. (Not right or wrong)
3. Master the ability to sit on my hands
4. Demand...
Taking profits early was a hard lesson I had to learn. I occasionally still do it. See chart
For me, the key to LONG-TERM success in this business is not your win/loss rate, but the magnitude of your wins vs your losses.
My biggest mistakes have all come from taking profits early, not from taking small losses.
Sell GBPJPY (educational)
"kalbotical retracement confluence 1"
1. Up Trend line broken
2. down Trend line formed
3. second leg has a strongest momentum
so possible third leg
for some kind of 1-2-3-4-5 structure )
You can catch momentu e.g with
Squeeze Momentum Indicator
4. Look left for S/R zone
5 perfect Fib level - .618
6. Kalbot RSI ...
This is my first educational posting series on "Channels".
In this educational series, I would cover five important points while dealing with channels, as given below:
1. How to identify trend with channels?
2. What is the right way to draw channels?
3. How to use Channels to find trades?
4. How to validate channel trades and manage risk?
5. Multi-time...
