I must identify trading direction first. I did identify trading with the trend and against the trend but I missed an important condition - not to trade.
I must identify not to trade condition as one of my favor not to trade setups.
With the VDS and my DP monitor my trades, I am getting more confident about providing my service to the public for the following reasons:
1. No more overtrading and limit my trades when I am trading emotionally.
2. Trading skills are improved day after day when I review my trades every day.
3. Feeling much better taking losses - this is one of my weaknesses in the past.
4. I know all I need is to produce 5% weekly return and I can do it as long as I don't over trade.
5. I need to read "Self Improvement" every day.
Again, enjoy losses and look for 5% weekly return only.
I must review my favor setups every day before trading;
I must understand the right trading decisions are tough to make;
I must accept risk as well as losses in order to profit from trading;
I must remember all I need is 5% weekly compound return;
I must treat every day as a new day (not remember what I have been);
I must take trading a life time challenge;
I was worry about what would be the outcome when I was trading. I must focus on doing the right things instead of the outcomes. If I can improve in this area, I may trade much better because emotion free trading is what I need the most.
We all know making the right trading decisions is ver difficulty. I told me to go short on EUR when the market pulls back per my trading rules which was a good thought. However, I went long as my trading decision, twice.
I told me to go short again if the market break 1.4025 but I did not do anything but watching the market moved down 40 pips in 10 minutes.
Making the right trading decision is tough and is the only thing matter to our performance even my thinkings are right at the first place.
Making wrong trading decision is part of mental weaknesses. I must learn and make constant improvement.
Anyway, I only focus on improve my self and produce 5% week return consistantly for our clients. Yes, only 5%/week.
I have 2 goals per my trading plan: 1 is to produce 5% weekly return for our clients, another one is to improve myself. I believe the 2nd goal is more important than the 1st one because I can do much better after some improvements.
I took 2 trades today for about 3%. However, I am very happy with the way I traded because I see some improvement, such as taking rest, patiently wait for best setups and trading with less emotion.
Remember, I only need to produce 5% return per week but most important, I need to improve my self every day.