Going about it the right way ?

tomorton

Legendary member
8,421 1,346
Hi Tom,

I do feel with the type of trading im doing right now is trying to trade to much in to many markets. The high losses have have mainly been due to my stops being to close. Plus adding the spread ontop of that hasnt been helping the situation. Yup i get what you mean with it being random, It is a trading system in the making. At this stage it hasnt been working to well, but like you say it could just be a bad month. Like Tim has mentioned i need to focus more energy into just one market and once able to conquor it, move to the next. What kind of trader are you ?


Try to place your stop at the point nearest your entry which demonstrates that price is probably not now going to behave as you thought it would when you designed the trade. That doesn't mean you were wrong to enter, it's just that not all positions develop from entry in the way they usually do. Allow for the normal volatility of your market's price, so you don't get stopped out by normal variations through the market day, and remember to allow for the spread here too. Of course, this level of knowledge also points towards specialising in just one or a few markets only, so you can see what they are doing, but also 'feel' when they are starting to changing from their normal behaviour.
 
 
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