When price is ranging:
Don't get used to it, they do this intentionally. They will play the range, get your confidence up until you start increasing your lots sizes, then they'll move and if you're in the wrong direction, they'll take back everything you make and more. When you have a decent day on the markets, don't try and force a trade, your next trade needs to be even more precise than the last one. A mistake traders make is think to themselves, yesterday I made $100, today I can afford to lose $50 and I'm still up. No, because if you lack the discipline to sit out and wait for an A STAR set up, you'll lack the discipline to stop losing when you get to $50.
Don't get used to it, they do this intentionally. They will play the range, get your confidence up until you start increasing your lots sizes, then they'll move and if you're in the wrong direction, they'll take back everything you make and more. When you have a decent day on the markets, don't try and force a trade, your next trade needs to be even more precise than the last one. A mistake traders make is think to themselves, yesterday I made $100, today I can afford to lose $50 and I'm still up. No, because if you lack the discipline to sit out and wait for an A STAR set up, you'll lack the discipline to stop losing when you get to $50.
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Benefits of keeping a trading journal:
Helps identify your strengths and weaknesses
Helps you find your edge
Helps with risk management
Helps towards your trading goals
Helps keep track of your trades and progress
Helps you become more efficient
Helps identify your strengths and weaknesses
Helps you find your edge
Helps with risk management
Helps towards your trading goals
Helps keep track of your trades and progress
Helps you become more efficient
Up, down, up and up. Tracked and traded 💥
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Gold:
Playing the range 2030 - 2035 with extension of the move in very possible. We're level to level in Camelot, a long from 2030 would have given you 50pips or a short from above the same. News later which is likely to drive the markets, we'll wait for a good set up otherwise, let them move the price where they want to take it and we'll hunt.
Playing the range 2030 - 2035 with extension of the move in very possible. We're level to level in Camelot, a long from 2030 would have given you 50pips or a short from above the same. News later which is likely to drive the markets, we'll wait for a good set up otherwise, let them move the price where they want to take it and we'll hunt.
This above is not rocket science. Plot the range, high and low, wait for structure to form and then play the range in the early part. Once the price has moved up and down enough leave it alone, they then want the dummies to get in and they'll move the price. You don't need to trade anything and everything everyday, know when to take a good set up and when to sit out and wait.