This is a trader question from the Fibonacci Trading Forum.

Hussam says:
What is not working for me now?
- I have been trying to stick to higher time frames, but I find myself slipping into lower time frames. Maybe because I want to catch the move as early as possible, hence, trying to trigger on a lower time frame. All becomes messy and confusing.

Neal responds:
There are some occasions that warrant more aggressive entries, and they can be part of your trading plan. The mistake occurs when you defy your plan, taking the temptation to enter early.

Early entries can bring more profits when you are fortunate, but more often they will cause losses due to false triggers and failed breakouts.

Have a clearly defined entry trigger, wait for your system to give you permission to enter. Is sounds easy, but we have to work at it.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Hussam says:
What would make the biggest difference to my trading?
- hanging on to winners until they hit target. Pure mental issue.

Neal responds:
Haha! This is a real problem. When we have a winning trade, it is so easy to bank those profits! There is a human urge to cut your profits and let your losses run. Traders have to manage these impulses all the time. We must trust our trading plan, or else change the trading plan.

If you have a clear exit trigger, then stick to it! Try to print it out, have it next to your trading station, or write it down, and keep referring to it. Only when your exit trigger gives you permission, should you exit.

If you are not satisfied with your exit strategy, you may have to review it. Until then, stay with your trading plan. Perhaps you should plan for a partial exit to take away some of that stress?

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Hussam says:
What causes you me most difficulty?
Setting the right landmarks on my chart. Example : trading a 60 minute chart on 240 minute trend. First I put SKs and trend lines from Daily and 240 minutes. However, I still have SKs or just Fib levels from my 60 minutes, (a) If I want to go long, I have my 60 min Fibs, SKs (which may coincide with 240min), then the 240 min SKs (resistance) etc…… IF I take each one seriously, I will probably leave the trade. The profit margin may seem small. So, how can rank these landmarks ? or should we just take them as targets ??

Neal responds:
It is important to have the correct Fibonacci levels on your chart, as you have. The challenge is to decide what to do about them! Any retracement, support, resistance, can have an effect on the market, so they all should be treated with respect.

In summary, if one of those levels causes an exit trigger, you get out, otherwise you stay with your trade. We should discuss this in more detail with live examples, in our webinars.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Hussam says:
What part of your trading do I need to improve?
- Choosing the right chart to trade, or when to leave a chart in peace.

Neal responds:
Part of your trading plan is to define your setups. You’ll have to monitor your charts until the setup develops and a trade triggers. If the setup evaporates, or the trade isn’t triggered, move on to another chart, or look for another setup.

If you can clarify your setup, it should be easier to decide which chart to trade, or whether to trade it.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Hussam says:
What do I struggle with the most?
Trading in a consistent manner. I use 2 strategies; Fib + TRSI for trading with the trend, another for reversals. Looking for 2 set-ups probably makes me misread the charts. Very dangerous, because I find myself going against the market.

It definitely sounds like you need to choose one strategy for a while and stick to it. Having too many options can be confusing. Only after mastering one strategy should you diversify.

Spreading your attention over too many priorities can be counter-productive. There are so many ways to trade and so many opportunities!

-Neal.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Kim says:
What is not working for me now?
Lower time frame. I want to trade on higher time frame.

The lower time-frame does contain more noise. There are compromises to be made, whether we trade the lower time-frames or the higher ones. For example, higher time-frames require more patience, usually have more distant stop-losses etc. Finding the time-frame that suits your personality is very important to your performance.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Kim says:
What would make the biggest difference to my trading?
A well defined trading plan based on Fib study/TRSI that define the entry, stop loss and profit to avoid any emotional act.

Great! I think this website will help you develop your own personal trading plan;

http://www.fibonaccitrading.com

No two traders are identical, so every trading plan will have it’s own variations. Use the outline on that website to formulate your plan.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Kim says:
What causes me the most difficulty?
Where to take profits and managing the stop loss.

I have several specific strategies to help with this. Most traders focus first on entry technique, ignoring the problem of exits. It is a comment on your advancement that you are giving attention to the problem of exits. We can cover some of these strategies in our member webinars.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Neal asks:
What part of your trading do you need to improve?
Kim replies:
Trading psychology.

Neal responds:
Congratulations! You’ve discovered another “secret” to trading.. Trading is a complex activity, involving sometimes difficult decisions that can be effected by our emotions, and can have an effect on our emotions. Knowing how we react to risk, reward, and stress, and learning to control our behavior to make the best trading decisions, is part of the journey.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)

This is a trader question from the Fibonacci Trading Forum.

Kim asks:
How to make winning trades consistently?

Everyone has that question! Of course, this is the goal, to come out ahead, over time, and with consistency. Consistent profitable trading is very difficult, and everyone, even the best traders have to deal with periods of losses. The solution is complex, and the problems vary from one trader to the next.

Give it time. There is a lot to learn, skill and experience are not downloadable. You will get there if you plan for the long haul, watch risk. Your first priority is survival in the markets.

Since I know you already have a lot of trading knowledge, I’ll post your question for other traders to benefit. All traders should define their interaction with the markets, via a trading plan. This website is intended to help traders create their own trading plans.

We’ll discuss this in a future Fibonacci Trading Forum webinar.

-Neal (FibMaster’s Fibonacci Trading Course)