Questions that came up from others.
These are very useful questions to be successful with my style.
Few blurbs from past conversations with other traders. This is very important. Read thru it carefully.
I strongly suggest to those who are struggling to use funded trader option like Apex so you can preserve your capital and play with some one else's. This will make you a disciplined trader without losing lot of bucks.
My stops at entry for -2 are always at market. You can have -4 as stop or use time stop. For more info check this post on entries. Never chase entry. And if you do , you know how to manage risk. I suggest if you do chase then chase with Micro rather than Mini or better yet just wait for next setup or same setup again for reentry.
Most people loose money when market does nothing, i.e. when it chops. Many times people try to counter trend because they booked profit on a trade. That's worst thing you could do. You don't have to be in a trade because I am in it or some one is in it. You have to manage your account. Stop looking at what me or others are making. That’s useless information and some time makes you take trade that is not there.
If you are following me. Just take my setups. Don't do anything else because you think otherwise. Some time you will be right but most time you will not be. Also its hard to do your own thing and follow some one. I can't help you are doing your own thing and not using these guidelines. And I do want every one to succeed.
Basically my point is don't over complicate. Use setup. Use your stop. Get entries. Then just wait. Don't enter for long when its going down. Don't enter for short when its going up, wait for price to pause and go in your direction before entry. Use 1 minute chart.
And most important thing. Use Ninja ATM strategy if you are on that platform or use template on think or swim under active trader (thought that's not the best one) for stop at entry. In morning its jumpy and if you don't have stop you will start big red. After each red think, wait or skip the whole setup. Wait for next setup or trade using SIM, if you have to. Point is not to make money, point is not to loose money and go in recovery mode. Once you are in recovery mode its endless cycle, I have blown accounts and I know the feeling. Keep some daily stop loss in mind and stop after you hit it. Don’t trade for 3-4 days afterwards. You won’t regret. You will be happy that you still have capital.
If you are trading with me where we flip often to get on the right side of the trade and also not get caught when it rips on news. You have to have automatic SL of -2 or -4 on entry and move those stops to break even on +2. You will be big red if you don't have it.