Date: 3 Aug 2012 (Friday)
Venue: Home
Pair : CAD/USD Time frame: Daily
Direction:Long
Result: -1R
Strategy: ABC Waves 
I thought it looked like the picture perfect trade but too bad it didnt turn out. I did think that the SL of 60+ pips was too little for a daily chart but went along with it anyway.
Went for KH's booster session and learned something useful. the psychology of trading is so subtle that you wont even realise the following:
1)If you are fearful when you put on the trade, your mind will work in such a way that you will look for ways and means to get out of the trade. So you'll never be at peace with yourself when you are in a trade.
2)Most traders dont realise they have to move towards a tipping point where they no longer worry about the entry rules too much because its the exit rules that determines our final and overall profit after say, 100 trades.
3) He also went through the spread sheet and talked about trade expectancy. If its 0.3R, after a 100 trades its a positive 30R which is not too bad
No comments:
Post a Comment