That’s 4.6% gains, which is like saying I was slightly better than 1:1. What made the difference this week? More discipline is all. Setting my support and resistance bands continuously throughout the day. What I learned:
Consolidation occurs routinely. Ride out these moments. Be patient with your lines of support. Set it and forget it. Don’t second guess. Go through with it. When I’m doing it right, there’s no stress. I’m learning throughout the trade when my mind is clear.
Set the SL and TP based on the lines of support and resistance. If you’re iffy about the trade, wait for the one with stronger signs. Study more about the markets if you’re wondering about your trade. Take in information rather than worry. Looking back at 1H, 4H, 8H, and 1D helps to get perspective, although it still comes down to what’s happening in the moment.
Only use the trailing stop after being in the trade for an hour or so, and only to secure profit (in the green). If it’s a heartbeat (chart looks periodic), don’t worry about the trailing stop. You should trail a rally up or down.
If you start off strong in the day and get 4% or more, step out for the rest of the day. All that said, I’ll do a little studying this weekend, and practice these things again next week. Sunday is my 1st marathon.