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Thread: I suck :(

  1. #1
    Specialist Member marc's Avatar

    I suck :( !!!

    I am in urgent need of a "Discipline-Indicator"!
    ... which warns me realtime on the chart:

    ---------------------
    DO NOT GO IN! ...
    IT'S TOO EARLY! ...
    AT LEAST WAIT TILL THE CANDLE HAS FINISHED!!!
    REMEMBER THE LAST TRADE?
    ---------------------

    [OMG, when will I ever learn that ... ]

  2. #2
    Master Member SeasaltMcFish's Avatar
    Try trading on the open, instead of the close

  3. #3
    Specialist Member marc's Avatar
    Quote Originally Posted by SeasaltMcFish View Post
    Try trading on the open, instead of the close
    Ok, I didn't get that one .. !? ...

  4. #4
    Master Member SeasaltMcFish's Avatar
    Don't wait until the candle closes, but until the next one opens. It's a mental trick that helps me to wait until the next candle and not to trade before a candle is closed.

  5. #5
    Specialist Member marc's Avatar
    Ah, ok ... well, it normally only happens when I apply my reckless "Kiss-the-jack-in-the-Box (in the moment he jumps out!)"-strategy ... aka "Wickhunting"

    Then I try to catch the top of the wick of very large 15M candles (which go across the screen) and which hit major SR and/or trendlines ... but ofc the candle needs to have some time left 5/10 minutes ... and ofc sometimes I get in too early and get catched by the prevailing trend/pressure

    But just think of it: every wick of a 15M candle could actually be a 15M trading opportunity

    Actually you could just open 'normal' trades on 5M TF and trade 15M expiration ... but I simply got used to look at PA on the 15M chart

  6. #6
    Veteran Member hchandra's Avatar
    A little bit tips:
    Warning in the chart sometime not a solution as long as we can easily touch the mouse and "Click"
    That is problem faced by all traders who monitor the trade,
    My suggestion you can first write what you want to do if A happen, if B happen and C happen,
    before taking trades, you must first read the paper or write the papers (This can be checklist too), this works at least for me.

    Hope this can help

  7. #7
    Veteran Member Ammeo's Avatar
    Quote Originally Posted by marc View Post
    I am in urgent need of a "Discipline-Indicator"!
    ... which warns me realtime on the chart:

    ---------------------
    DO NOT GO IN! ...
    IT'S TOO EARLY! ...
    AT LEAST WAIT TILL THE CANDLE HAS FINISHED!!!
    REMEMBER THE LAST TRADE?
    ---------------------

    [OMG, when will I ever learn that ... ]
    Why not change ur trading style...remember scalping is the hardest thing to start becoming a trader, the way u sound u seem to be a scalper, why not go swing trading..its much more easy and relaxed..

  8. #8
    Specialist Member marc's Avatar
    Quote Originally Posted by Ammeo View Post
    Why not change ur trading style...remember scalping is the hardest thing to start becoming a trader, the way u sound u seem to be a scalper, why not go swing trading..its much more easy and relaxed..
    Yes, ofc you are right ... but I am not a scalper as just trying to trade with PA and SR + some supporting indicators ... last week I tweaked my charts and did a lot of papertrade, and I have have to admit, that I could have avoided some problems with better chart preparation (e.g. higher TF SR lines ...)

    About swing trading ... yes, I would like to trade easier and more relaxed, but how do I do that? ... suggestions welcome!

  9. #9
    Legendry Member willyw's Avatar
    Quote Originally Posted by marc View Post
    Yes, ofc you are right ... but I am not a scalper as just trying to trade with PA and SR + some supporting indicators ... last week I tweaked my charts and did a lot of papertrade, and I have have to admit, that I could have avoided some problems with better chart preparation (e.g. higher TF SR lines ...)

    About swing trading ... yes, I would like to trade easier and more relaxed, but how do I do that? ... suggestions welcome!
    Marc, you can try some longer timeframe charts. You can learn the candlestick analysis, too.

  10. #10
    Specialist Member RCox's Avatar
    Quote Originally Posted by marc View Post
    I am in urgent need of a "Discipline-Indicator"!
    ... which warns me realtime on the chart:

    ---------------------
    DO NOT GO IN! ...
    IT'S TOO EARLY! ...
    AT LEAST WAIT TILL THE CANDLE HAS FINISHED!!!
    REMEMBER THE LAST TRADE?
    ---------------------

    [OMG, when will I ever learn that ... ]
    Colorful title for a thread =). At times like these it is important to remember that all traders lose a SIGNIFICANT percentage of the time, even the best of the best. Your real goal is really just to win more than you lose but there will always be negative streaks where that is simply not possible. One of the best market phrases that I have heard since I started trading is that it is better to be out of the market wishing you were in, than to be in the market wishing you could get out. And while this might sound like it is best to just never trade at all, what is really means is that patience is more valuable than just about anything else.

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