If you're confused with this chart, there are bounds on the x and y axis that bound the trade which ideally leave the trader insusceptible to emotional responses. Ideally.
The top dotted blue line represents the TP @1464 sats and the vertical purple dotted line is the time stop which, when reached, invalidates the trading idea and the trader closes the trade manually.
As you can see, after the time stop was reached, the trade started moving in the pre-determined direction.
-How should this leave you feeling?
-Would you ignore your trading rules next time?
Likely, you would. The desire to make money is greater than following the trading plan for most. After hitting my head against the wall for so long with this concept, I made trading about discipline and patience. An exercise. Similar to a workout.
It's really no different.
So, tap yourself in the back for following the trading plan next time. That's the only way to reach true wealth correctly.
Follow the (your) plan.
The top dotted blue line represents the TP @1464 sats and the vertical purple dotted line is the time stop which, when reached, invalidates the trading idea and the trader closes the trade manually.
As you can see, after the time stop was reached, the trade started moving in the pre-determined direction.
-How should this leave you feeling?
-Would you ignore your trading rules next time?
Likely, you would. The desire to make money is greater than following the trading plan for most. After hitting my head against the wall for so long with this concept, I made trading about discipline and patience. An exercise. Similar to a workout.
It's really no different.
So, tap yourself in the back for following the trading plan next time. That's the only way to reach true wealth correctly.
Follow the (your) plan.