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- Why did you get out?
- Most people set their stops based on pain threshold. This makes no sense, set your stop based on price action. If required stop is too big for your pain threshold, don't take the trade at all.
- If you get in after just exiting, then why did you get out in first place.
Review your journal. It should list a reason for getting in a trade, and a reason for getting out. This should be documented immediately upon the trade being executed so you record true/accurate info, and not "after the fact" revised info to fit the situation.
When reviewing the journal, look for patterns behind your reasons for exiting trades prematurely or reasons for re-entering trades so quickly after exit.
5 ticks stop loss makes sense if you get in at the edge. It takes you out if you were wrong. My problem that I think that now it's gonna work and get it too early again. I should make live videos and then watch them after I'm done so I can see seasons for the entry.
I didn't do any good today again and I reinstalled my NT but entry arrows are still displaced. When I started trading I didn't realized that my MACDs were set to "close bar-true" and I didn't have live dots. I treated plotted dots as live. When I realized that it was too late.
Then I noticed that my MACDs by itself look different from MACDs at from the charts.
Here are the pics:
One on the left is Maximized from the chart and the right one is overlayed in the main panel with erased bars. So I had to readjust all of them again.
I contacted NT support about arrows displacement and this is what I got back
"It's possible to see the, but does not necesarily indicate a problem. Please see the following link on how trade executions are plotted.
What you can do is make sure your PC clock is synced to the correct time, but what you may be seeing could just be due to having multiple bars with the same time stamp."
I think that my PC time is about 1-2 seconds ahead but I'm not 100% sure (it's really hard to say). I couldn't find any information about syncing NT to PC time in "help" section.
I think I'll do better next week. I'm not sure if I'm gonna trade tomorrow or just watch the market.
Can you upload your template for the MACD window? I want to compare it to my own if you could. Or save it as a template and it is an .xml file that you can upload.
I will have to see the differences on my PC. Which one do you like better, maximized etc..?
Well I'm using a different MACD. It's made by FatTail also but I think this is a newer indi. It doesn't act like yours, if you try to use it with the same settings you have it's gonna look different.
There is a template and MACD so you can compare: MACD.xml
Looks identical. I just changed my look and also use the standard settings for the MACDBB.
Also, once you get an indicator to look the way you want it after you have changed it, then right click on the indicator settings table and choose "Set Default..." and then all the calls on that indi will match.
I know about setting default. I tried your template and adjusted a little bit to my taste and everything works fine. Even my arrows got back at the bars
Yesterday I was ready to shoot myself because nothing looked right on the charts.
Today I took 13 trades. I didn't feel like trading today and I've been playing with my charts first 30minutes of the market, then tried to place order and see the arrows. I've lost a little bit but I didn't care because I was just testing it.
Then I saw a couple setups and ended up with +2.1 points. Today is a first day after rollover but market looks very tradable.
The first profitable was a continuation trade but I got out too early. Then a trade in a circle was at 100% extantion from 4181. My wife was asking me something about trading and I showed her some trades on the way up with reversing and closing etc. Then she told that it's gonna go up and said that it's gonna go down from 76% so I took it long and we made a bet.
When I saw it got back to 76% with divergence I reversed and added a second contract because I was sure it's going down and I close when I saw that it couldn't break through 50%.