Yesterday's Test

I ended up scalping very few points with yesterdays strategy. It seems all the work is not to fruitful in the end since placing so many orders that barely scalp any pips just leaves the brokerage with too many pips. It seems like just trusting trend directions on the hour chart, and chasing bollinger bands have been the most successful strategy. Combining the bollinger band chart to the ATM chart will hopefully allow traders to calibrate the bounce back against a trend. For those who have not yet learned these strategies, I plan on posting hopefully some useful WordDocs that will help teach the basics of the strategy. The day has just started here, good luck all:)

So far so good...

Since my post 2 hours and 43 mins ago, I've closed out 2 orders, both with small pip earnings. I think that this strategy is frowned upon by many experienced traders, because the concept itself sounds stupid. However watching the market, I feel that it is easier to close an order when you see the currency spike a certain way, then to actually place one. This may be due to that anxiety I was talking about. Hopefully this experiment proves successful and I walk away with the ability to place trades without stressing as much.

Practice against Anxiety

Since I have not been trading for to long I've found that whenever I place a trade, no matter how secure I am prior to placing the order, I start to freak out once I've place my order. There really is no reason to freak out as I have a stop loss and take profit set in for back up... but I still freak out. For the moment, I am testing a strategy where I place two orders at the same time,(long and short) and I drop one of them when I see a trend start forming. This way, I can leave my computer or turn it off and still feel safe. For the moment, I have not closed any and I understand that I'm paying my brokerage twice the amount of pips, but the security, and the fact that i only have to close on time, and not place my order on time so far has been a plus. I will update tomorrow after the trades are finished off to see if its really that effective. If anyone has any suggestions as to how you got over traders anxiety, I'd be happy to hear from you.