Peter's Journal

[exponent83]

I was ill a bit, so no trades in the last few days. But today was awesome:)

[exponent83]

These were my corrency trades from last few days:

[exponent83]

I started the next 20 'H1 currency trade':

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[immy]

thanks for sharing these. I know exactly why this happpesn

1. You are Scared.

What are you scared of? It would be either one or a combination of the 4 fundamental fears traders experience.

1. fear of losing
2. fear of being wrong
3. fear of missing out
4. fear of giving back profit.

The fears are all created because of the Fear of Uncertainty. We as humans want certainty about future. We want to know exactly what the future holds and we want to be sure that it happens exactly the way we planned it. Some of you might think I'm "going to write" that its not that way. But actually, it can happen that way. The only difference is that in trading your expectations have to be managed differently. You can expect to make money. If you did not expect that why would you engage in trading activity. So there is nothing wrong with that. But, in order to make money or win in the game of trading you will have to apply a statistical edge. A statistical advantage, the edge that you apply in trading does not give you an edge or an advantage per single trade. No, it cannot guarantee or give you higher odds of winning the next trade. But it can give you a very high "degree of certainty" that a the end of the next 20, 50 and 100 trades, the result will be a positive outcome.

As long as you don't understand and believe the fully, fully deep down to the core of it, you will make mistakes like, deleting pending orders before they are triggerd and exit a trade without any evidence or exit signal. You do that because you subconscious mind has a belief system that this trade might turn into a loser and so you protect your self and take the action. Its a good think your mind does that to you. But if you understood and believed the right mind set of trading then it will not stop you from experiencing a losing trade because then you will know and believe that actually the act of losing a trade is in reality the act of making money. Lose a trade of two and keep on trading = Making Consistent Gains.

Apply the 20 Trades Principle Correct. And you will instill the belief in probabilities and the 5 fundamental truths about trading. You exited the fruit trade because you were not sure about the future so you killed it "before you caught another losing trade". If you believed in probabilities then you'd let the game play itself out. You have to take the setup in the now and then remain in the now. Do not predict the future. You already know the future when you take a trade. You know that it will either hit the Stop Loss, or it will go in your intended direction. So allow it do its thing and what ever is the outcome is the outcome. You know it that at the end of 100 trades you will have won more bigger winners then your smaller losers. That is what matters. How else will you find out what the future holds? If you don't apply the 20TP you will know the real potential of your strategy and yourself. And if you presume in the now that the future will be this or that and take action without following your trading plan, you will disappointed when the real future becomes the now. Create a probabilistic mind set by following the 20 trades principle. Your life will be stress free and mind will be FREE to perceive what it should perceive and act on the right impulses.

all the best... (don't listen to Robochef, he's crazy hehe)

[exponent83]

Dax trades after NFP. I finished again the next 20 trades on Dax, see below the result, I think I am on the right way. I separated the M1 and M5 TF.

February was over 450 pips, anyway these trades are mixed, live and demo... I have to find a target, for example double the demo/live account.

[exponent83]

Today was a slow day in the afternoon. And I didn't open the trades at LO. So not my day, see you tomorrow

[immy]

it was going up and you were selling it .Thats what we do when we trade Fruit. Though I don't agree with your angle technique. I did have a rent the third one on your chart. the 2 before that I thought the gator was pretty parallel. Nothing exciting about that price action. it was a steady rather less than 45 degree in fat around 35 degree up move. We want to trade when market gets excited and runs away from Gator. smile you're becoming a good trader... gradually.

[exponent83]