Discussions

Euro / U.S. Dollar forum

13 hours ago

We learn from physical pain much quicker than we learn from emotional pain. We don't have to continue reaching our hands into the flames to learn that it will burn our hands. But sometimes traders continue to burn their accounts.

Make it physically hurt when you touch a hot trade. Take your hand and a pen to your trading journal and write down why you burnt yourself.

I spent years burning my hands until I connected the emotional pain of losing with the physical pain of writing down why I lost.

Good luck this coming week. Journal those trades!

yesterday

Gap on the 4H Time frame needs to be filled, do whatever you can with that information.

yesterday

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yesterday

I'm learning that a great way to manage risk is a smaller position size.
4 things can happen on a trade:
Big win
Small win
Big Loss
Small Loss
We can live with 3 out of 4 of these out comes.
I'm trying to eliminate the big losses out of my trading and become more comfortable with the small losses.
A few things I'm practicing are: 1) scaling into a position size, either by adding to winners, reducing losers or averaging a better entry on drawdown, 2) slow down and give more respect to where I set a stop loss and then don't move the stop loss. it's easier to not move the stop loss with a smaller position size and lastly 3) focusing on process not on profits. Am I doing the things the successful traders do. Do I realize when I geek out and quickly place a trade without a plan? Can I notice and improve when I'm impatient, greedy, hopeful, and experiencing fomo? Can I clearly define my strategy?

I know a couple guys in my town that trade. One does options and I'm not ready for that. But basically you guys are my community, my mentors and my accountability.

yesterday

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2 days ago

There’s that slow bleed. Don’t expect large moves with this pair until ECB cuts. It will be just a gradual decline of the Euro. Have a great weekend you all 🥂