Monday Result and Some Tips

Another great discpline approach. This time I trade Swiss Franc (6S). I've never trade this and I even falsely $$$ per tick. However, the beauty of my Trading System is whatever instrument, it can be applied.

CL is just a bonus trade, saw a double wedge pattern, ignored the 1st break and entered the second signal. (Let me tell you 2nd Entry from double wedged is the most powerful signal I've ever seen on Crude Oil, especially the reversal)for quick scalp and exit. Of course, price soared through my initial entry far far away.

Now some tips. My favorite things to do is now doing scaling up. This is a miracle in trading world. While others prefer averaging down, I do the opposite. Think about this: You enter 1 contract at not so good setup. And you got stopped out with 1 contract loss only. And you enter again and you ride the trend, another signal appeared and you averaging up. Adjust the SL and you have double the potential with only small risk because of the adjustment.

Another tips : The advantage of riding the trend is most of the time the trend move farther than you think it is. And it will be a lot of pullback on the way. If you want to get out, wait for pull back then adding contract if it break the new hi/lo. Give you some extra ticks/pips with double the power.

I do averaging down a lot not so long ago. The reason is, I don't like taking Stop Loss. While now, I still don't like taking Stop Loss. I guess noone like. But accept it as part of business plan. Think like an expense for business. And since then, my trading performance like increased multiple fold. Sometimes it's just that simple to flip struggling into winning. Wish you have a great trade :)