I have been trading live for a year now and I can not make money. Anytime I make money I end up giving it back to the market and more.
I have problems controlling my greed. When I see a good setup I will increase my risk factor a lot and when the trade goes against me my entire mindset changes. I feel very bad and depressed but the interesting thing is that I can come back the next day and put that behind me and be ready to trade again.
I have a system that works. I use elliott wave counts with vsa to stay on the right side of the market. I like to stay in a trade 1 week or more depending on the counts. What goes wrong though is that when there Is a retracement I want to enter that and trade it too. I get greedy and risk more than I can handle.
I still haven't blown my account but I have put more money in. Is it just me or are there others out there who have been through this phase and can help me?
Do I need a mentor? I sometimes think it will help.
The interesting thing is that I am a person who will follow rules when there is someone there to punish me if I don't and since in fx trading we are our own bosses I am finding it very difficult to control my greed and my emotions.
I have read Mark Douglas books but when it comes to trading everything flies out of my head. I intake better information through audio visual methods rather than reading books. And I have realised that discipline is not something one can master just by reading books. (atleast not me)
There have been many a occasion when I have thought of just quitting. I know I am a good analyst. Even my friends say so. But when it comes to trading I screw up.
I am asking very sincerely if there are others there who have been through this and are willing to guide me in the right path.
I have problems controlling my greed. When I see a good setup I will increase my risk factor a lot and when the trade goes against me my entire mindset changes. I feel very bad and depressed but the interesting thing is that I can come back the next day and put that behind me and be ready to trade again.
I have a system that works. I use elliott wave counts with vsa to stay on the right side of the market. I like to stay in a trade 1 week or more depending on the counts. What goes wrong though is that when there Is a retracement I want to enter that and trade it too. I get greedy and risk more than I can handle.
I still haven't blown my account but I have put more money in. Is it just me or are there others out there who have been through this phase and can help me?
Do I need a mentor? I sometimes think it will help.
The interesting thing is that I am a person who will follow rules when there is someone there to punish me if I don't and since in fx trading we are our own bosses I am finding it very difficult to control my greed and my emotions.
I have read Mark Douglas books but when it comes to trading everything flies out of my head. I intake better information through audio visual methods rather than reading books. And I have realised that discipline is not something one can master just by reading books. (atleast not me)
There have been many a occasion when I have thought of just quitting. I know I am a good analyst. Even my friends say so. But when it comes to trading I screw up.
I am asking very sincerely if there are others there who have been through this and are willing to guide me in the right path.