It all started with a message: "I'm not like Begs or Fuller or you to come up with really cool strategies from scratch, but I can take a little bit from each of you and make something of my own." Answer: How long have we been emailing? A couple of months. In a couple of months you've changed several approaches to chart analysis, "testing" different indicators. You looked at it for a month, a second month, and that's it. It doesn't work, so it's time to install a new one. But you have to ask yourself one question - what do you want to see there? Something from the book? Or a particular pattern? If you are hoping to see a working out of what is described in the book, then the next question is: why are there no millionaires around if the "money" button is on the surface? Another approach is when you see a method, gather a lot of information and start to study it based on what everyone knows. And in the process of studying you will discover your own laws that are not described anywhere, but they will work based on your perception and analysis of the information. But you don't. So your statement, "I'm not," loses its meaning, because you're neither Beggs nor Fuller, but you're going to take a LOT of it and make it your own. In the first stages you will not need much, but in the future you will already know where to go and where to look for the information you are interested in. But I'll tell you one thing - none of the authors have a detailed description of their system, none of them have anything but a general outline of the foundation, and it's up to the individual to decide what to build on that foundation. And until you sit down and start studying it, you can't do anything. You can give it 1, 2, 5 years, nothing will happen. The time is given for studying, but not for sitting around thoughtlessly. The average period of formation of a good TS is 3-5 years. And this daily work for 5+ hours. If you treat it irresponsibly, it's easier to rob a bank and be happy than to wait for trading to give you a million. First of all, you have to decide what you prefer, trading with indicators or trading on a pure chart with your thoughts and ideas. And then you have to dig through that whole pile of approaches, find what you like and then dig into more niche tools that you like. Somewhere to change, somewhere to improve, and somewhere to spend half a year on an idea and realize it does not work and throw it away without regret. And keep looking ....
I try to avoid impulsive decisions and stick to my trading goals. But as a beginner, I still occasionally make mistakes.
Trading can be an emotional roller coaster, with ups and downs in the market causing feelings of panic. It's important to keep your emotions in check and not let them drive your decision-making.
Having well back and forward tested trading plan, having all the answers before the questions will go long way with mindset. But to get to this point takes years cause if one is just starting, they have no clue the amount of knowledge needed to get trading plan accomplished. Although methods I use are simple to enter, risk management took decades to fine-tune to where I am today. I wish all good weekend.
Maintaining psychological resilience is crucial in forex trading. One needs to stay composed and disciplined, particularly when the market is volatile. I have personally found that copy trading on zulutrade helps me to manage emotional stress by following experienced traders and reducing risk.