Something i learnt from 2016 .....
Multi day holds/ST holds/position trading is much more rewarding to the old bank balance than good old pip trading... Stick to your charts block out the noise and believe in what you see as a trader.. Scope out the timeframe and take time to undersatnd what is happening with volume and the areas the volume appears in associated with the spread...
I understand that alot must DT as of T2 and hey cash is cash but in all honesty i have traded with a decent capital postion for years never t2 so i have realised in bull markets flicking good buys for intrady highs is time consuming and not very rewarding at all.. Yes i still pip trade a few obvious trades but the last 2 months i made more on being patient blocking out the noise and sitting back relaxing watching the trading happening each day to a point i can see when DTs are trying to get out and pros pushing them out lol..
Let a trade run will offer a better return than getting anxiety about each intraday pip.... Use your stop plan and i use a combo of my DEMA lines and support/resistance areas...
Spending the time off looking over alot of trades the realisation is emotions/noise/manipulation etc needs to be controlled to stack up the green... So 2107 for me is less frequent trades but more conviction in my buys and if i get stopped so be it... Last 4 weeks has seen 4 stocks bag for myself alot more rewarding than pips...
If market turns and we see some sort of correction i will bail and go overseas with my family on a long surf trip
Think outside the square and top calls 1 day may not be so cleaver days later ...
TS
