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Minsk wrote: 07 Sep 2022, 08:05
No trades.
I pondered about UJ but decided against it because it was already way up. Looking at it now, I missed out big. Was this a wrong decision, or just you miss some....
Let me help ease the pain.
Do you feel the pain of missing? FOMO kicking in? Do you feel that you missed a huge winner? is it ok to feel this way. YES... absolutely.
You should feel that pain. It's normal. TRADING IS PAINFUL.
Here is how I would process this ...
Should you have taken the trade?
Did you filter it because it did not meet your criteria?
If yes, then you've done yourself a favour. You have followed your trade plan. Good , well done.
If you have filtered it using your "objective" filter rules (climactic) then there is nothing to worry about. It happens. No system in the world will catch all the "moves" Remember, WE ARE NOT HERE TO CATCH EVERY MOVE.... (it would be nice to have that system but sadly we just can't find Miro type trading system which trades every time frame, every market all day long even when asleep lol).
or did you filter it because "you were not sure" or "you were scared"? Was it a valid signal according to your plan and still you did not trade it?
In this case, slap yourself in the metaphorical mirror and tell yourself off and make sure you remain objective and take all valid signals. Well, not all but the ones that look good to you. These things will happen. It's ok. NEXT NEXT NEXT
Check my SIGNATURE... it says the answer to your question....
thanks for this post.
Yes i filtered because it was too far and climactic, I filtered conform rules. So right decision. I did not feel any fomo whe I filtered it, it's just the hindsight, damn look what I missed out on, and then the doubt starts, but I did follow my plan.
Next!
We will have setup, we will....
And when that happens, we will take them
i have not had a setup in ages it feels like on H1. That does not mean that the strategy does not work.
We are keeping our capital safe untill we have something really good to risk it on.
Don't let the fear of losing keep you from winning
Minsk wrote: 07 Sep 2022, 08:05
No trades.
I pondered about UJ but decided against it because it was already way up. Looking at it now, I missed out big. Was this a wrong decision, or just you miss some....
thanks for this post.
Yes i filtered because it was too far and climactic, I filtered conform rules. So right decision. I did not feel any fomo whe I filtered it, it's just the hindsight, damn look what I missed out on, and then the doubt starts, but I did follow my plan.
Next!
Hi,
That too is FOMO. When you see that its moving and you did not get in and you feel that you should have been in it. that is FOMO or PRE-FOMO. it will contribute to the NEXT time you see something ... and if you've agonised over it the last time then the next time you might be more prone to break and rule and GET IN because you Don't want to miss out AGAIN. Not realising that every moment in the market is unique. nothing can ever possibly repeat itself and yet anything is possible at any given moment.
What is the Secret of Successful Trading?
The Consistent Pursuit of DS1
The thing that makes me money in trading is when I "Objectively Follow my Trading Plan".
I understand that I can't catch all the moves or all the signals but my objective is to catch THE VALID SIGNALS & ONLY the Valid Signals.
No trades, there were no good setups in the morning.
Everything was waiting for the news in afternoon.
I have seen this now happening on screen for the first time, such a huge candle forming on H1. This very much convinced me to stay away from red news. I already did that, but now I have seen it happening myself.
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Minsk wrote: 11 Aug 2022, 19:561 - Trade Number: B4 -T13 2 - Pair Name: USD - JPY 3 - Signal Date: 11-8-2022 4 - Signal Chart Time: 13:00 5 - Signal Time Frame: 1H 6 - Signal Type and Number: #3 7 - Buy or Sell: Sell
8 - D1 Trend: didn't check before I placed the trade, 9 - H4 Trend: didn't check before I placed the trade 10 - H1 Trend: day after huge news candle down, trend is down
11 - Risk Percentage: 1%
Flowchart questions:
A - Is there an impulse move?
yes 2 trend candles
B - Is impulse move climactic?
no not climactic
C - Is there a pause or a pullback?
there isa 3 candles pullback,
D - Is the pullback impulsieve?
no, nice smaller candles, signal candle #3 is 15.80 pips
12 - Post-Trade Comments: (Feelings, Analysis, What could have been differently, lessons)
My patience gets rewarded. A really nice DS1 trade for 3R profit.
13 - Discipline Score For this Trade: DS1 13.1- If applicable, what is the Reason for DS0:
