Hi, I've been trading forex for about six years, but they are about four to be precise, because I took some months in the past to reset my trader psychology after bad trades. I invested about 10 years of my life in trading. I started in 2003 with stocks. The start was good because in that period everything was going up. Soon after I discovered that trading was not that easy. I had ups and downs until 2007, when I started to trade forex. In 2008 started to have more ups than downs. I finally discovered what works in the markets, and started to study and trade pure price action. It's amazing how I can recognize good trades, but my psychology is holding me back. - Sometimes I take trades to recover from a stop loss - Sometimes I exit too early - Sometimes I'm too greedy and don't exit because I want more pips ... and others psychology problems .. at the end I make money, but I'll never become a real trader if I can't improve my psychology. I'm starting a journal because I need to keep a diary, and I also need someone who can criticize me. I trade forex and CFDs on Indexes and some commodities I printed my psychology rules and I read them every morning and before entering a trade. When I'm in a trade I also read psyhology rules to manage the position at best.
Hi dbphoenix, I mean support and resistance (static or dynamic), and one or two bars price action. I also trade breakouts of well known price patterns. I hate indicators
It's saturday and I'm watching some charts. Gold is approaching a good level for potential buyers. I would not short at the moment, but I'd look for longs, expecially in the 1160-1170 zone. I'm adding more ideas
One of my "associates" in price-action trading maintains a journal which includes analyses of the gold chart (http://www.elitetrader.com/vb/showthread.php?s=&threadid=278731). You may want to review that, at least the last few posts.
I was watching at the same trendline on gold. Just subscribed to the thread of your associate. Appreciated replies I know you are a good trader, that's what people say here
That's nice of them, but what matters most is whether or not what's being said (a) makes sense and (b) pans out in your own testing, esp real-time testing. If it doesn't, then be on the lookout for snow.