HOW TO BECOME A PROFITABLE #FOREXTRADER PART 2
After identifying repeatable price patterns or setups exclusive only to you, categorize them into types of setups, A or B. Build a database in Microsoft edge or google docs of similar instances from past and also future as they..
come. Why these moves? What are the variables in the move? Intraday? Daily? News? Other nuances? What makes it a better setup or worse setup? Can I see them real time?
Look for patterns, test hypotheses. Does logic support why this edge might exist? When can I see them. Please, starting to trade has nothing to do with psychology, with edge comes good psychology.
We live in a society that promotes democratic values of being fair to all, the importance of fitting in and knowing how to cooperate with others. We are taught early on in life that those who are outwardly combative and aggressive pay a social price.
The problem for us is that we are trained and prepared for peace, and we are not at all prepared for what confronts us in the real world. WAR. Meanwhile, the life of man upon earth is a Warfare. This war exists on several levels.
After getting to build a playbook of setups that you are ready to wait and trade with all the nuances. You check if the patterns are not random. If the patterns are non-random and capturable, how do you structure the trades?
What is going to be your clear entry? Your clear stop? When do you size big? When do you size less? No play? How do you identify more of these playbook setups in real-time? What filters can you set or look out for?
Trade for small size, while cataloging system and dissecting data. Adapt the strategy as needed, refine the strategy to get enough data and start adding size to your trades to become profitable.
When tragedy strikes, some people are devastated, unable to summon their coping mechanisms, they fall into deep depression, sometimes losing hope and even the will to carry on. They may become preoccupied with the disaster and suffer nightmares, flashbacks, and anxiety attacks.
Other people, however, react differently. They seem to manage not only the normal ups and downs of their lives, but also potentially overwhelming losses and traumas. Instead of becoming depressed and unable to cope, they are able to deal with painful circumstances and move on.
The difference between the people that are so deeply affected, and others that are seemingly able to “bounce back,” is resilience. Resilience is not a quality inherent within a person, but one that builds through a natural process. We build resilience from experience .