Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
at first the most difficult thing to do in trading was to find consistently profitable setups. now that I've a few under my belt. the most difficult thing has become knowing when to stay away from the market, that is, the ability to assess market conditions correctly and make appropriate decisions accordingly. trading is so hard because just knowing when to trade is not enough, you must also figure out when not to trade.
gold had good moves this session, but I didn't trade it well. instead I made and lost 50+ ticks a couple of times before throwing in the towel. this P/L rollercoaster was really tiring, and it casts doubts on my confidence as a trader. my balance creeps up like a feather, and it drops like a stone. I think it was caused by my scaling out strategy. it was really good at helping me to stay longer in a trade. but it also meant that when I win, it was only half the size, and when I lose, it was double damage. from now on, I'm going to trade with 1 contract only, and see how it changes my trading stats.