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This is a bit off topic, but I've often wished a platform had a few more psychological features instead of just pure technical features. For instance, like you said, a daily loss limit to 'strongly encourage' you to not place another trade on the DOM. One feature I've wished for was a "random" live/sim account swapper. Imagine placing trades on the DOM and not knowing if it is was live or sim. Clearly some technical issues, but from a psychological standpoint, you could really advance your experience level dramatically.
If I remember well, XTrader somewhere has the function of enforcing some risk parameters to the trader. This should be a sort of a "Manager Module" or the like...
Hi there Jagui,
I wanted to give the slingshot trade an automation try, but where do i get the McGinleyDynamics indicator?
And do you use a normal VMA or a ADXVMA. if you use a normal VMA where did you get the colored VMA?
I use Infinity as my Broker. with them you can set a daily loss limit, which if hit does not allow you to place another trade unless you call to have it removed. A good way to impose a much needed discipline. Their platform is great (IMHO) very stable and their customer service is the best I have come across in this business or for that matter, any other.
Yes jaqui, I can certainly identify with your posts here. These are some of my frequently experienced problems also. I have even resorted to some auto trade programs that I leave running at night while I try to get sleep. I live in Austraila and market open is a 9.30 pm for me. Very difficult to run my small business during the day after trying to stay up to recover from an initial losing trade into the night. Good luck. regards Andrew
The VMA is the standard VMA included with Ninja. I modified it to do the coloring.
I'm attaching to this post both the VMA and the MGD. Later I'll share them in the download section.
I'm also interested in giving a serious try to automate the slingshot setup, I never tried hard. I think the 1min euro could be a good candidate to the automation.
Thank you for sharing your condition, I feel less lonely now .
Currently I'm trying to scalp the market at supposed high volatility times. Got some success and some loss. There are days I'm clean and winner, and days (like today) where clients call every minute for every reason, breaking my focus during the 20 minutes or so I'm devoting to trading.
At least today I was able to stand aside and not trade without the necessary focus, and of course the euro, which I planned to follow, offered some good setups.
My problem is that the amount of work and customer managing is an external variable I can't control. This may render every style of daytrading not sustainable in the medium term.
From this month I started trading the daily timeframe again, where I can be more relaxed and focused, looking at market for about 30-60 minutes before going to bed. This is already paying out, I have a huge winning position on SILVER and other good positions on EUR, CHF and AUD. Don't know if I should share this long-term trading here, this is a "Day Trading Forum"... maybe @Big Mike can clarify this.
Me too am thinking about an automated system for daytrading.