really need help with my trading (many aspects)

This is a discussion on really need help with my trading (many aspects) within the Psychology, Risk & Money Management forums, part of the Methods category; I have never really had a solid "trading" system I am afraid. I am a decent macro/fundamental analyst and combined ...

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Old Mar 13, 2018, 12:52am   #16
Joined Jul 2014
breaktwister started this thread I have never really had a solid "trading" system I am afraid. I am a decent macro/fundamental analyst and combined this top down approach with TA to enter trades. In terms of exits, no real solid strategy, just looking for fundamental or technical reasons to exit, trend exhaustion etc.

I have all the Market Wizards on audiobook, great listens for sure. I listen to macrovoices podcast every week. I just finished Peter Brandt Diary of a Commodity Trader and I'm sure a lot of you know he trades price action only via a rigid rule based system. I would like to try his system although I am not sure how you programme a H&S pattern for back-testing, some of the patterns he takes as H&S are quite dodgy looking! I'll maybe manually paper-trade it for a while as it is primarily a weekly system so shouldn't take too long to look for setups.

Of course for crypto, it is all price action trading so I guess I just wasn't fully adjusted to that. Very emotional markets to trade as Brumby rightly points out. However, I was surprised with crypto how solid the patterns are, I found a lot less "fake outs" than in the traditional commodity world. I think I will continue with crypto trading but implement a hard stop system.

Thank you all for the encouragement and advice.
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Old Mar 20, 2018, 3:36pm   #17
 
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shadowninja, you're absolutely right. Discipline is a very important aspect, if you don't follow your strategy then nothing's going to work out. Also, don't forget about risk management.
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Old Mar 22, 2018, 6:48am   #18
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I tell students you’ve got to Focus on what suits your personality.......just because you make a few bucks in a particular market using a particular strategy DOES NOT MEAN that’s what you should be doing .....

we are taking a lifetime vocation here in trading so it needs a lot of time and patience to bed things in and try all the clothes on it the shop !

I’ve switched a few times over the last 40 years of trading ...and even before that I transitioned to trading from gambling on horse racing where I was really comfortable ...last 18 years mainly in forex and it still works for me .....but I will switch tomorrow if something works better .....

So you are just warming up.....be patient and don’t beat yourself up ....it will come if you listen to yourself and how you feel towards certain things ....

N
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