On Thursday posts I wrote about getting $20 and that's exactly the maximum amount I got from the market. And as human, I wait for more profit. I mean how come you exit your position when you've got profit only in 5 seconds. Come on...
Now I learnt more about myself, my trading behaviour.
1. I'd like to wait for more profit if the price soared too fast like less than 1 minute.
2. I take my profit too little if the market deadly slowly. I don't have patience waiting even it's only $5.
3. I don't have a decent profit target setup.
4. I am scared market took away my profit if I don't liquidate it.
5. I am waiting too long for losing position but exit little too fast for executing it.
6. My profit target is profit based profit not price based profit.
Here's what I do on my next trading.
1. Price based profit. Anticipating where the price will touch today. No matter how awful the speed is, meanwhile looking at the sentiment all the way there.
2. Scaling down is a high risk low return and high probability. Not worthed so much. I learnt when I wrong, it's better focus on how to minimize damage aka change side with tight stop loss/profit.
And the newest idea about trading:
RECOGNIZING MARKET DIRECTION ( TRENDING, SIDEWAYS, RANGING ) AND VOLUME IS ESSENTIAL FOR YOUR TRADING SETUP.
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