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I have my trading path laid out. One decision left; SIM or Real money... There are arguments for both... for me its coming down this: when do I want to inject emotions into the equation. My initial thought is to get used to the trading system and then work it in slowly. My fear with this is that I will never work it in........
Setting a public deadline of this weekend to make a decision.
Didnt get to trade last night. Notes are on the chart on what I saw. My lower projected target of 8710 was hit. I was a little undecided about which direction it would go. However my bias was lower based on price action from the past week. This would have been a good overnight trade.
I decided I am going with real money. I will start the week of October 27th.
As to "why" I decided to go this route; Because I fear it... I am at a point in my in my trading career / life where if I do this I probably never will. Knowing this, I accept that I have fear and all the risks which go along with it.
I have put together core beliefs for my trading. I will build off this going forward
Core beliefs
Profit is nothing more than the result of an action.
Knowing what type of trader I am and accepting it, is one of the keys to success.
Understanding I am unique in how I trade and that I cannot follow or emulate other traders, guru's or market experts will keep me focused and on the road to success.
I am responsible for the outcome of my trades and ultimately my success or failure. I will not blame the markets, guru's, my broker or any other trader or entity for my successes or failures.
Its not the chart, indicators or what I trade which will determine my success; its me.
What I have learned is that 99% of trading is in your head. Or at least mine anyways. I believe I have the skills to trade, but now I need to develop the physiological aspect to execute the my process consistently and effectively.
I don't know the exact formula for determining where to enter but two things jump out at me from this chart.
1. The entry seems to be random....its not at the OR and its not at the confirmation bar high....it in the middle....
2. It seems logical to wait until the trend line was broken, wait for the retest of the levels....and then go long....
Again, I have no idea what the entry rules are so my observations might be in direct conflict with the rules.....but those two things did leap off the chart at me....
Otherwise, I love the simplicity of the charts, the idea of only taking one trade.....love it....
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris