''trap' fail' failed!!!

EU holding 1.2600

below Ph of the day from my old thread. %80 I did overcome that Ph.

but at the same time I had created another one with lower frequency.

which is;

Phsycology(Ph) of a trading account:

1- start of an account:
with every start I afraid of having loosers but also feel confident that Patterns works well.

2- first days:
when start trading with new account I do not think very deep and trade the patterns I should. this system carry me to a good profit level.

3- trading with an account in good profit with very low %DD.
at that stage I want to keep my profit and strat cut my winners short and run my loosers long until SL which on most of them I should exit before SL.

4- start loosing the profit.
when strat loosing profit and come down to initial deposit I get angry to my self and strat trading extreemly aggresive to get back the same level in 1 day which I had that level in 3 days before. and this bring more loss.

5- loosing loop.
now I am in loosing loop. trying to be more stable and trying to keep the profit is taking all proft + initial deposit away.

6- account destroyed
at the end I destroy the account.

now I should overcome that period as I did daily loop.

walker




Phsycology(Ph) of a trading day:

1- start of a day:
with every start I afraid of having loosers but also feel confident that Patterns works well.

2- first trades:
with every start most probably I had my daily goal in a very short period of time. Just watching and catching the patterns. entering trades and exit if necessery even in loss.

3 - daily goal achived:
this is the first break point of the day. after having achived the daily goal Ph changes. from that point I start finding reasons to NOT ENTER the new trades. because daily goal achived and the fear of loosing that is putting more pressure.

4- missing new winners:
the result of nr3 I start missing many winners. and this make me stressed and got angry to myself. that point is the second break point of the day.

5- finding reasons to enter new trades:
at that point I start FINDING reasons to enter trades. due I had missed some winners and now I must fill that gap in my mind. WHY NOT %5 instead of %1 or %2.

6- entering wrong trades:
now I had find the reasons to enter trades just %100 opposite of nr3. those are not exectly what I am looking for. I am just trying the fill the missed gap immediatelly and making wrong desecions. the another reason for this is the Rescue plan. at the backstage of my mind I know that I have rescue plan and this will rescue me if I take a wrong one.

7- Rescue:
as a result I enter wrong trades and those goes against me. at that point instead of exiting the trade at a certain point I keep loosing and start the rescue plan. ( this loose most probably is the result of a very fast price action/spike )

8- Back to start Ph:
when the afraid happens mind reset logic and start trading normal again. at the rescue stage I trade other pairs and make good profit.

8- end of the day:
most probably the rescue plan works ( you can call this basket or grid trading ) and day has saved.

thank you for input.

really appriciated.
will give a try.

thanks
walker


   maifx posted:
   I highly recommended this book, The Forex Mindset by Jared F. Martinez. It's all about controlling your emotions when trading. This book has changed me, and my pip results as well. Good luck!

I am still long but in DD on this pair. no signal to close trade.

just an example.

it would be very easy.

I guess in 80s that could work. but not now


   Chikot posted:
   generally ema's cross is only signal to start watching for entries, not signal to enter trade or you mean exactly that 2 ema's cross and you enter?