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Where is the problem exactly?
(I apologize in advance for whoever reads the complaints I have towards my lack of skill.)I have been trading now for about almost two years and just cant seem to be profitable. I've watched Al's videos and read his book and have only traded the "best setups" and yet I haven't been able to accomplish my goals. I realize that there are only a very few that make trading work for them. I get it. I just am not sure where exactly it is that im going wrong. I really want to make this work. I have gone in debt and am about to lose almost everything. I don't know if I'm that stupid to believe in myself in a field where only about 1% of traders are actually profitable or that I have the guts. Can someone please help me. Al has allowed me to gain a better understanding of whats happening in the markets. I have no problem acting in what I see. I have no problem taking a loss and letting positions run. I just seem to choose the worst trades over the long run I suppose. If anyone here is profitable, what are some steps that you took when looking in the mirror and habits you "aligned" to be part of that 1%? I can't give up. This is all I have and I am not looking for a god or guru to save me but to just lend me a hand and be straightforward with me. Thank you for your time. I appreciate you.
This is how I traded today.
For example Bar number 1 I went long because it is three pushes down to the moving average. Bar 2 shows a test of the wedge bottom and is also another opportunity to go long. I only took the first buy since I don't add to my losing positions and get stopped out shortly after. Bar 3 I see a wedge and low 4 so I short and get stopped out. Bar 4 shows me a Low 2 and another wedge. It has some follow through but then reverses back up and I get stopped out. Paper cuts are starting to make me bleed heavily so I don't trade for the rest of the day.