No Trade Outside Currency

But I' still posted it since I made 96 ticks :)

Crude Oil also made great move today. I just didn't trade it :( ZS moved 9 cent in less than 15 minutes. TF..... super lame. Everything moved very nice today.

I'm gonna share some story. My uncle wanted to become a daytrader. He's already rich man and he set $10000 for trading. After 1 year of trading. His account now around $5800. Well, it's a record since 90% of day traders (I think) blewout his first account in less than 1 year. He's very strict to stop loss. At the beginning he never used that and his account was reduced very fast. But now, although still bleeding, the rate was not so fast. Maybe around -1% per day.

The weakness from him is:
1. Very super fast to profit taking. Never give chance price to pullback. Always got out before the pullback. I told him over and over again that pullback is normal thing. But everytime price moved 5 ticks against him after the profit, he will become afraid and get ready to get out. In his career for one year of trading, he never profit more than $100 per trade. That's around 13 ticks/pips in mini lot. I can't believe that!!!
2. Trade micro lot aka M6E. This symbol always have issue. Illiquid, high spread, plus commision. It's worse than the worst bucket-shop broker out there. I trade it too sometimes, But I targeted for more than 100 ticks. Never succeed though. Average incl commision worthe the spread of 4 pips! per round. Sometimes worse. I told him that micro lot can only profitable for swing trading, 50-100 pips at minimum. But as usual, 25 ticks was his hisghest record.
3. Give up after losses. It's good thin not to over trade. But as a daytrader, 2 consequtive losses means end of day? That's very risk averse. Also sometimes after the signal failed, he won't take another signal for a while. And most of the time it's too late.
4. Have bias as expert say. Sometimes enter based on expert sayin' I did it once and losses more than 160 ticks fighting the market all day :( Never again I do it.
5. Trade with 14inch laptop only, without using mouse. It's swing trader, not a daytrader.
6. Gambler mentality. If he lose this $10000 coin, then that's all for him. What? Is it like playing at casino?

He's very quick learner. I mean, he had passion to learn something new. And I don't wnat him to give up. At least I have friend to discuss trading :)

If anyone have advice how to overcome this weakness please tell me. I also had weakness too like overtrade. But I do my best to get over it. And so far so good :) Hope I keep improving.