Looking at markets through the prism of bets and R has really helped trading money earning me spot my own weaknesses much quicker.
About 4 weeks ago after a very long period of focusing only on systems, I started doing weekly prop trades for BK (basically K beat me into submission into doing it).
I am up more than +500 pips on the recs despite Trump’s best efforts to disrupt the FX markets on a daily basis. But taking a look closer at what I was doing I realized that I had a glaring flaw in my approach.
I’ve been using 100 pip stops 40 pip T1 targets and 100 pip T2 trading earning money targets for essentially a maximum. Generally, you want to keep your maximum R at 1 to 1. 5 so that you can be positive on anything better than 50%. Not only was I making inferior trades but trading earning money I was taking on risk that was utterly unnecessary. So going forward I am cutting stops to 70 pips – that’s still not perfect – but it does put me at 1R maximum bet which should be trading a much earning money more resilient structure if I can stay above 50% win rate.
Trading earning money Range of sources giving.The Dirtiest Four Letter Word in the Trading Language. Fear of Missing Out is the dirtiest four-letter word in the trading language (it’s an acronym actually, but you get the idea) In a great podcast Dr. Gary Dayton, who trading is earning money practicing psychologist and is also a trader, uses the example of a parade to trading forex ea scalper hft earning money show how our mind forces us to do things that we would normally never do. Most of us watch happily watch a parade from the sidelines, and while we may enjoy the floats and the marching and may even cheer on the participants, few of us have the temptation to run trading money earning into the parade and become part of the show. In that situation, our mind is able to make a clear delineation between spectacle trading earning money and observation – what Dayton calls mindfulness trading earning money – that allows us to keep our trading earning money distance from the action. To trade them we need to be both a spectator and trading earning money a participant and therein lies the rub. The trading earning money emotional pull of price action inevitably captures us in its grip and we wind trading earning money up chasing trades.
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