In the post prior to this one I described my really best set-ups and winning trades. This post will define the e-mini professions I take that are, ahem, not exactly trades that you desire to imitate.
Any type of profession that I take versus the fad is normally an error. Before recording every one of my professions on an Excel-based trading spread sheet I was under the perception that I was a straight with-the-trend trader with only a periodic counter-trend profession. Picture my awe when the numbers on my trading sheet informed me that I traded versus the fad 30% of the moment. On an overall of 41 counter-trend e-mini trades I won 46% of the time but my net profit on the total amount was -$3645. It was a genuine discovery, and I have actually now enhanced to 92% with-trend e-mini trading. You can reason what you will certainly from this stat; I am either the worst counter-trend trader in the world or counter-trend trading is an unprofitable method. I like to believe the last, however I am good friends with several expert investors who are counter-trend traders and do so with fantastic success. For me, counter-trend trading is a poor idea.
Another profession that I on a regular basis get batter on is attempting to call the turn in bracketed markets. I am a regular professional at screwing this certain profession up. Out of 16 professions, my winning percentage is a paltry 27% and I am also embarrassed to reveal the total loss on these professions.
Fortunately, forex trading south africa have actually damaged this annoying behavior and also have 0 breakout/breakdown e-mini trades in the last three months. Of training course, I knew (in an intellectual feeling) that 70% of breakout/breakdown trades fall short, yet I was typically attracted to take this trade; for unidentified reasons, possibly some psychological shortage.
Tracking your professions will direct out professions that you may on a regular basis take unsuccessfully. For me, I unconsciously assumed that I was trading with my trading plan. The recipe for success is in the information and also I very advise tracking the specifics of all your professions.
Prior to recording all of my professions on an Excel-based trading spread out sheet I was under the perception that I was a straight with-the-trend investor with just an occasional counter-trend profession. Picture my awe when the numbers on my trading sheet notified me that I traded versus the pattern 30% of the time. Out of 16 trades, my winning portion is a modest 27% and I am also ashamed to reveal the overall loss on these trades.
Of program, I understood (in an intellectual sense) that 70% of breakout/breakdown professions fall short, but I was usually enticed to take this trade; for unknown factors, probably some mental shortage.
Tracking your professions will aim out professions that you might consistently take unsuccessfully.