Get well acquainted with actual (sim) order placement and exit based on a liminited # of entrys based on BO's, call it trend following if that sounds better. So you now have the strategy figured out, you will trade for the gravy train runs.
Your tactics to carry out the strategy will be well worn and well used basic stuff that have been around forever. Price can only go up or down so thats your battle plan.
The beauty of the simple tactics for each daily battle mission is they work and will continue to work forever in a game of chance. Losers are expected in any battle plan. There will be no walking on rose pedels and claiming victory before the battle gets started. War is hell!!!!
Your basic tactics will include rather benign and almost automatic beginnings to get your feet wetter.
Even if you do not want to trade the +6/-6 ORB in live trading later i still would like you to do it as practice. Why?
ORB for the 1st hour is all about discipline. No discipline = NO confidence, no confidence = NO courage. It is that simple.
Trading the ORB for an hour will work on puking out losers and getting right back in to catch a possible run. The ORB will teach you to recognize whipsaws rather than just having them slap us traders around with no respect. You will learn how to avoid whipsaws by maybe waiting for the 1st hour BO if you choose, but the deal is you will learn how to avoid getting chopped up. You will learn how to stay in a "run" right off the open also.........thats the goal of the whole deal. Discipline is not only about avoiding losers, discipline is about everything in a game of chance. ORB will FORCE you to take action when it is needed, it forces you to be in the moment, it forces you to take the trade. Thats what you need, you need a SGT there yelling at you, getting on your case. "For christ sake NOD, why in the fricking hell did you hesitate at your number? Do you think the god dam mkt is going to wait for your slow butt? We expect better from you...........tomorrow you best shape up and take every signal or no weekend pass, you GOT THAT? "
You need to toughen up, you need to get serious. This is not a game of marbles in the schoolyard. (i am showing my age) This is a game that every Tom, Dick and Harriet would love to beat. You are close but have not received the cigar yet. You have a trigger problem because you have it in your head this is harder than stocks. Stocks are not the problem, the problem is fear of losing. get over that in the sim to some extent and live trading will be easier AFTER you practice the tactics.
Support, resist, retraces, hooks, reversals of the main trend thats what you want to focus on. Forget scalping for small potatoes, you can scalp all you want later after you get the confidence under control. That will come when you nail some runs like this mornings initial drop. That was the "meat" of the day. Practice discipline, practice first in a mechanical manner such as, take EVERY signal, place a rock solid STOP LOSS at 6 ticks as max and allow yourself to get out sooner but NEVER LATER. Take ALL trades, no fear, no thoughts, think it is discipline and conditioning only. It is NOT money. Practice discipline by staying in a winner, work on that , it is important, learn how to ring the register and jump right back in when the trend has not shown a reversal signal. Learn RETRACE action.......thats hugely important, most rookies view all retraces as reversals and get slapped around as soon as the prior trend continues on.
After the 1st hour ORB trade, switch to regular TA based on levels, tests etc.
You owe it to yourself to make these changes and get more discipline, pulling the trigg on signals is also discipline..............discipline to go for the brass ring, discipline to make a shitload of cash later.
Go for it.
Немає коментарів:
Дописати коментар