"Xenon" System, trading with 1min Chart.

I will do so. I stop at some point. and will trade only charts. not my mood.
thanks
walker

   Chikot posted:
   Steve, after you made your goal. close PC , walk away and go and smell flowers.
You do not have to trade 24 hours a day. Find something else to do.

   xenon posted:
   at the end ( at least for now ) I found where I go wrong!

the reason why I destroy account while manual trading is; I stop using my entry exit signals and trade according to my mood.
early stages I was captured by the daily PH. I come over that. for now I should come over my mood of day.

from now I will keep all accounts traded at my portfolio and see how I handle this issue.

walker



old post from old thread about PH of the day.
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.

today I had made up to +%3,22

then missed the wave and lost %25 in 3 trades and down to %0. ( initial equity )
but this time I did not get angry and keep my PH positive.

then won all back and daily up to %7

I use different lot sizes according to the market movement and wave. but exit on loss which is very good news for me.
I do not stuck in one trade until it destroy accont.

I am very happy that can acihve this. ( at least for now )

walker

I did it again. I forgat the keystroke enabled and used keyboard. and lost %2. I should change the key combination. I heard the sound but not fas enough to cancel. fat finger!

what ever I will focus on the trades. those can be fixed. not a big issue.

I did it again. after my last post I start trading again destroy the account. I will not be around for a while. I should fix some problems.

walker

last post before break:

trading is hell easy.price always doing the same patterns tick or 1H. the tough is the self control.

from my point of view 'trading = art of self control'

PS: if you can not forecast next 2-3 bars dont trade.

Why I destroy account when in profit;

- the EA I had coded to help manual trades and limit myself, is not limiting me. it is very flexlible and make do more idiotic actions. when trading with MT4 there many things that you can not do. but with the EA I have no limit.

ironic isnt it. I coded to limit myself. I stop using EA.

- when I see the profit % on the chart by the EA I catch that value and I can not close trades in loss. withhout EA I can now close when in loss. very strange.

- When I make profit I feel like that I can make every trade win. this make me enter many trades without seeng patterns. now I enter only patterns. may be 1 or 2 trades a day.

- I Keep myself away from the screen and trade limited hours.

- I start using fix TP with 20 pips and fix Sl with 15 pips. those are only to secure the trade in the case of a fast price move. I usually exit around -5pip (+ broker slippage)

- 1.0 Lot for 1000 usd equity. this is more enough to have at least %2-3 profit daily.

- the most of the trades I enter are 2 directional. means it can go reverse. in that case I close the trade in loss and open reverse with higher lot with same P/L target if I feel that it will move reverse. So I dont stuck in one trade until it destroy the account.

those changes make me more confident.

walker

at leas one close over 1.2770 was not enough and EU move down to 1.2500

   xenon posted:
   EU closed wek just over 1.27600 which is 1.27777

so it does want to move long and get away from the gravity effect of ~1.2500
here at that level now should watch and see if it can stay over 1.27800 for at least 1 day.

if I had enough patient I could trade higher time frames with > 30 PIP target. but not for now. first I should come over my 'trading according to mood' issue with smaller time frames.

   xenon posted:
   if EU does not climb over 1.27600 in ~2 days then we will be looking for more lows ~1.25

- 1.0 Lot for 1000 usd equity. this is more enough to have at least %5-10 profit daily.

I can reduce the lot size to 0.25 Lot for 1000 usd equity.

   xenon posted:
   Why I destroy account when in profit;

- the EA I had coded to help manual trades and limit myself, is not limiting me. it is very flexlible and make do more idiotic actions. when trading with MT4 there many things that you can not do. but with the EA I have no limit.

ironic isnt it. I coded to limit myself. I stop using EA.

- when I see the profit % on the chart by the EA I catch that value and I can not close trades in loss. withhout EA I can now close when in loss. very strange.

- When I make profit I feel like that I can make every trade win. this make me enter many trades without seeng patterns. now I enter only patterns. may be 1 or 2 trades a day.

- I Keep myself away from the screen and trade limited hours.

- I start using fix TP with 20 pips and fix Sl with 15 pips. those are only to secure the trade in the case of a fast price move. I usually exit around -5pip (+ broker slippage)

- 1.0 Lot for 1000 usd equity. this is more enough to have at least %2-3 profit daily.

- the most of the trades I enter are 2 directional. means it can go reverse. in that case I close the trade in loss and open reverse with higher lot with same P/L target if I feel that it will move reverse. So I dont stuck in one trade until it destroy the account.

those changes make me more confident.

walker