Thanks for the advice Torero. I actually have a trading plan in place but yes, I've been having problems following it by the book. I'm currently reading
Mark Douglas. I'll post my trading plan here when is done. Thank you.
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In this case, your focus should be on discipline in conjunction with strategy building. Create a business/trading plan and detail the actions (how many trades per day, max. stop loss, max. drawdown you're willing to accept the fact that the strategy failed etc).
From your post, you're already trading live while not having discipline as well as not having a final trading plan and strategy intact. Should move to paper until you know all the performance results, nuances of your new strategy. Once you find that it's overall profitable, then start with 1 contract to get the confidence as well as gain discipline. No amount of chart analysis will help without get a grip on the psychological side in order.
Good luck! |
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