Notes

Finding that patterns emerge from price action. However, they are never the same, yet rely on the same principle.

When price drops significantly, it slowly begins to retrace, creating a lot of market noise. You can profit greatly from watching the noise and filtering it mentally so that you know when the retrace is over and the price begins to follow the original movement.

I watch for these stalling points, and base my trades off of these. I look for 3-5 pips before taking partial profits, and usually start by taking 50% of the position which limits my risk. Then pending my feeling on the movement, I take profits ~10,~15,~20 pips.

I peel off the largest percentage first as I want to lock in profits as pertaining to my calculated cost of living (~$30 a day), I lock in what I need to break even, then let the rest run to profitability.

Quoting an article:

When price advances think sell, stopping you from buying at the top and entering short as it contradicts the bias.

Also came to the conclusion that to trade for a living I will need $10 000 in an account, and make at least 3 pips a day. Toying with the idea of building an LLC shell to use, as I could "pay" myself my living expenses every month.