[SRspider]

biko,
absolutely correct. What matters here is that you follow the plan. Because only by following the plan , can you make it better and more statistically in your favor. By adjusting what needs to be adjusted, if need be. Otherwise, those trades that were taken by not following the rules, will be very difficult to reproduce as you may not know why you took the trade, other than "I felt it was gonna go up" . And most people do not have the intuition to trade successfully that way, not in the beginning years at least.

[SRspider]

Today was a good example of what I am talking about as far as my experience. On my first trade , which was a valid setup, I got stopped out , without having a chance to move my stop , so the stop out was a full one. In the past i would have quickly re-entered the market trying to get back what I lost. This time I put my emotions in check, continued to analyze the market and shortly there after another setup occurred which hit two of three targets. It put me back close to break even for the day. Patiently waiting for the next setup, which took quite a while to appear, I did nothing. Once it happened I took that as well and was able to get back into the black for the day. Everything based on my trading plan. I did feel some negativity about the stop loss early, but I was aware of the feeling and did not allow it to cause me to break my trading plan guidelines. All the while reminding myself that its more important to follow the plan than not to follow the plan, win or lose.

[SRspider]

A note of sticking to your plan. A while ago I read a book by T Harv Eker, where he talks about this concept that really made sense to me. Basically he states that your beliefs lead to thoughts, and those thoughts lead to feelings, and those feelings lead to actions, which in turn lead to results. When trying to follow your plan, you must absolutely believe that following your plan is the only way to properly evaluate it. You must believe that one trade alone will not determine whether your plan is good or bad. That one or two or three weeks will not be enough. With this belief in mind your thoughts about losing trades will be more positive and you will be able to use the losers in a creative manner to either adjust the setup or toss it. Without this belief you will fall into the trap of , emotional trading once you have one or a few losing trades, throwing the whole plan out the window, and finding yourself asking what happened at the end of the day.

[Forex Quant Chix]

i really really love this post. it created me a vision to be a better student in my class and in my trading. yes you are right im still attending on my class because i know im still a loser of forex trade.

[Forex Quant Chix]

@MadMarketScientist ...ahuh ahuh ahuh you're happy if im looser.ok watch and see. huhuhu please teach me to be like them

[MadMarketScientist]

Originally Posted by Forex Quant Chix »

@MadMarketScientist ...ahuh ahuh ahuh you're happy if im looser.ok watch and see. huhuhu please teach me to be like them

Sorry no, I am not happy you are losing money - I was was happy you liked the post by your statement ... "i really really love this post."

MMS

[Forex Quant Chix]

no im just kidding i just want to figure out to help me to trade.you know what i love this website traders laboratory.