Discussion in 'Trading' started by rin4et, Jan 2, 2018.
You're beginning to grasp the concept of Prudent Risk Management.
I've learned that there are very few individualists out there , mostly people are statist and have a collectivist mentality that is anti capitalist even in this trading forum
Respectfully, I believe you are believing that trading is some 'mighty endevour'.
It's not really but probably is only if you are not suited to this game.
If I said to you I have a special bycycle which I want you to ride, you would ride it after you had mastered it. It wouldn't need a Connor McGregor or Floyd Mayweathertype type person.
Honestly, trading is not a high level performance sport, it only is if you are out of sync.
This is how my trading day goes:
I wake up maybe 4am ish thereabouts, no alarms, just wake naturally.
Reach under bed bed, grab my tablet and peruse the overnight markets performance.
(I am doing this right now as I write).
If I have any trading money burning a hole in my pocket and see a opportunity, I will make a mental note to trade on next market open.
Get outta bed 6.30am, make muesli breakfast, chat on skype to trading mate.
Place trade 7.00am, eat breakfast, walk or drive to shops for coffee.
Spend 2 hours at coffee, read business news, scan my mobile on market.
Come home, spend rest of day in garden and with wife.
Turn off all computer related equipment by 7pm, shut down brain from work, go to bed by 8-9pm.
Edit: yesterday made 4k, previous 10 trading day made approx 1.5k a day (that's 15k), no losses on one of my trading accounts. (I run 3 acc's)
Think smarter, don't work harder.
We suggested a few resolutions for the upcoming year that may help those who are starting out http://optimusfutures.com/tradeblog...lutions-for-improved-trading-results-in-2018/
I wish you well and appreciate the challenge you are up against.
I noticed that if I let go and became willing to miss opportunities, mostly everything became easier. I try to keep it in the day, the moment, and not take too seriously the trend at hand. This means taking good profits when my brain is telling me to hold on for more because obviously it's very weak or strong. I noticed that I was picking up the buying or selling pressure well, then my imagination would start up. I just became willing to accept that this was happening, that there was the market and what I thought about it existing side by side.
I've been trading the same thing for over 20 years, save for minor adjustments as new markets emerge, etc. 2017 was, ultimately, despite being an insanely bullish year - uncharted territory at that - like any other year for me.
I've found the LESS I have to change, having reached a certain level of success, as a result of current market conditions, the better.
"I have fought sixty battles and I have learned nothing which I did not know at the beginning. Look at Caesar; he fought the first like the last." -Napoleon Bonaparte
I notice too that I'm usually looking for two or three things in particular. One is panic or a group of traders who just got trapped by market movement-a pattern break. The other is if I feel that the market has moved in trend, but has left traders behind. Much more subjective. I'm constantly asking myself if the tape is confirming my hypothesis right now. If not, probably time to exit and reassess. Just being willing to get out and risk missing a move is growth.
Forex is a highly competitive and risky market area. So it is important for us to learn from the mistakes that we have done in the previous year. I have made some hasty decision in case selecting currency pairs in the year 2017. So I have to bear some significant losses. But I won’t repeat these mistakes again in the year 2018. And I have also learnt that working with demo accounts is now helping me to learn about forex market again.
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