Its been very long since I last blogged and when I looked on my past posts, it seems that I did not change much or either improve in my trading ways.. I am still trading impulsively, with making money set as my first goal instead of focusing on trading... This usually leads to poor decisions like doubling down, taking excessive risk and thinking price will revert back to me cost... its just a matter of time.. My record has proven me otherwise many times but still, greed prevented me from seeing the clear picture... I have lost another 10% of my account in a very reckless manner.
I promise myself this will be the last time.... I must start to focus trading correctly rather than expecting things from market... In the past, I have been always trading in a panic manner... taking large leverage, checking prices every min and when the price move against me, I will open another position to average down.. My heart will move very fast and I will stare at the price every second hoping it will go in my direction and when it indeed goes in my direction, I will fear my profit creeping away so sometimes I will just close immediately... I am trading in a very difficult and stressed manner which makes trading additionally difficult.
I want to take a different approach for trading.. A more relaxed, methodical and stress free approach. I will be focusing more on the risk rather than the amount of money I can make.. Secondly, rather than trading on low time frame chart, I will trade higher time frame (4hours, daily and weekly).. Lastly, I will only trade when I have the clear signal.. I will remind myself to be patient and in any case if I lose my trade, the key will be capital preservation rather than recouping!..
It is a long journey and I really hope I can make it one day.
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