Back to basic 101 on trading. As a trader, one need to have a solid fundamental in order to progress to the next level. Sadly, lots of traders refused to get the basic right before jumping to higher level.
What is the basic?
1) PPTA (Direction) with Emolines (Entries)
2) COP (Direction) with Emolines (Entries)
I am sure we have more than the above two, I shall use COP with Emolines for this week SiMSCI & TW performance.
For simple illustration, I will use 10 lots for both contracts. (Traders are to work out your own risk management.)
Day 1 -- SiMSCI
Day 2 -- SiMSCI
Day 3 -- SiMSCI
Day 4 -- SiMSCI
Day 4 -- SiMSCI
Day 5 -- SiMSCI
The first week of October 2017, pairing COP with Emolines, SiMSCI end the week positive.
What about Taiwan? They are having a shorter week, celebrating Mid Autumn festival on 4th Oct 2017.
Day 1 -- Taiwan
Day 2 -- Taiwan
Day 3 -- Taiwan
Day 4 -- Taiwan
The first week of October 2017, pairing COP with Emolines, Taiwan end the week positive.
Trading success is:
Taking the time to learn an effective trading strategy (how many of you have given yourself 3 months in doing one set of strategies?), including entry and exit criteria, money and risk management as well as trading psychology.
You must be disciplined and consistent and stick with your trading approach in all areas – entries, exits, risk management and psychology.
Build a trading plan (did you do it? if yes, did you follow your plan?) to help you stay disciplined and provide you with a tangible ‘road map’ to keep you grounded and accountable.
The development of positive habits, the ones that lead to success in any field, is something you can make a conscious effort to achieve simply by implementing consistent daily routines.