The Road To Profitability

This is a discussion on The Road To Profitability within the Trading Journals forums, part of the Reception category; Take a look over where to put my stop to minimize risk and maximize profits, but also to learn to ...

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Old Sep 22, 2011, 5:06pm   #57
Joined Aug 2009
What I need to do

Shuanl0ol started this thread Take a look over where to put my stop to minimize risk and maximize profits, but also to learn to find better profit targets... I've noticed that I close my trades quite quick.

*Sigh* I'm trading daily charts, not M5. Hence I should keep my positions a lot longer than I do (i.e. 3-4 days).
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Old Sep 26, 2011, 11:14pm   #58
Joined Aug 2009
Audjpy

Shuanl0ol started this thread There has been a fair amount of setups coming up today, I've chosen to play one of them.
The others were either too choppy pairs or they don't meet my risk standards.

AUDJPY; I'm long at the dotted level and out at the upper horizontal line.
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Old Sep 26, 2011, 11:19pm   #59
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Change of mind on my SL

Shuanl0ol started this thread as the title says.
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Old Sep 27, 2011, 7:09pm   #60
Joined Aug 2009
AUDJPY ~ Winner

Shuanl0ol started this thread Hi peeps, my target was hit a few minutes ago.

good game.

Cheers
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Old Sep 29, 2011, 6:46pm   #61
Joined Aug 2009
Coincidence?

Shuanl0ol started this thread Please tell me if it was a coincidence that price reacted to my exit level? Those of you who have access to the chart, scroll out and look at the bigger picture.
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Old Oct 3, 2011, 11:57pm   #62
Joined Aug 2009
Exercises

Shuanl0ol started this thread September was good in terms of profits, didn't have a single loosing trade which means that I'm becoming more and more picky. Since july I have been practicing this by:

1) Staying home from school (on fridays mostly) just to watch the lower timeframes. This, beacuse I wanted to expose myself to the urge to take a trade on the lower timeframes. This exercise is really healthy for all of us who havent learned to control ourselves yet.

2) I've been calling friends and gathering them for "casino nights". I haven't gambled away a single SEK (that's the exercise, go to the casino watch other people gamble). I've done this beacuse it is really helpful to realize it's not about making money all the time. It's about making money when the optimal opportunity is given. Is it optimal to make money at a casino? F-u-c-k no. Still one easily gets tempted to hit the tables, especially when you see your friends cashing in their profits.

What's most interesting is the feeling entering your body and mind when you see others winning. Something in your mind is telling you (again) HIT THE TABLES FFS! If you are dedicated with the exercise you will just laugh at the idea and move on.

These exercises are not "invented" by me. I read this somewhere about a year ago, realized they were healthy a few months back though lol.

Cheers
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Old Oct 3, 2011, 11:58pm   #63
Joined Aug 2009
EURGBP - Interesting level

Shuanl0ol started this thread I'm looking for bearish price action around marked level.
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