Just some random thoughts as we approach my Live stage. Why is it that most traders do not succeed? Is it their time frame and expectancy does not match? Perhaps their lack of discipline? Or due to sheer persistence or lack of flexibility? Or could be due to sheer inconsistency ? I have been a company trader for about one year and i have seen alot of those characteristics. One is a scalper ( or so he claims) but he does not really scalp or just enters when trend is ending.... or he is an apporiate stop loss when mkt is volatile, one needs to adher to it by having a large stop while his is same stop every trade. What makes me think that i can succeed when all others have failed? Do i have the discilpine? Do i have the courage? Would i have sufficient funds? these r the thoughts that are randomly running through my mind right now. Am i a good trader? i honestly do not know. If i am positive for half a yr, does it mean i am good? But i could be negative for the next half yr ? or for the next 5 years? What makes me think i can succeed when all others have failed? What does it take to make a trader? As richards put it, sheer willpower and flexibility. Higher highs, lower lows. Follow the trend till the end when it bends. So simple, yet few plp have come ard to succeeding it. Define trend, Prices rising , prices falling. Define volatile, prices rising and falling. All too often, such judgements are on Hindsight and as a trader such judgements are often costly shd u be wrong. Contrians get stopped when the go aganist the trend, but are the start of a trend shd it be correct. Trend followers get stopped out when they are in late, but they are kings when the mkt is moving. What is the key to trading? To me, it is simple. Sheer consistency.
doing nothing still up till nw..... wonder hw my day going to be like. More action prob coming later on though with the dow jones breakking the 8k support zone. Hope can make some bucks to pay for my bills today
Are you trading UBP/USD forex or futures? What time frame? I've found volume in futures is non existent for trading. Good Luck!
lack of discipline. made 341 sgd tonight or ard 241 pips. hope does not come back to haunt me. Bal 2115.86 SGD
new day has come. Hope to stick with my discipline today. Would love to make more money to pay my bills Acct: 2115.11