Hey everyone. This would be my first thread...and my 6th post/introduction. This post may seem long, but you may find it interesting.
I've been a market enthusiast for 8 years now. I started when I was 18 and it was mostly in forex after a brief stint in stocks (I remember learning "buy the rumor, sell the fact" from a Yahoo board lol). My journey is mostly self taught. I've tried one price action trading course (with forex focus) and then I attempted to trade prop forex through university from a somewhat notorious online company before - I had made it to live funding but never became profitable after + busy with schooling. Up until then it was mostly small accounts.
Fast forward early 2016 I lost half my capital in forex 2 years after securing my first full time job :boxing:. But it gets better, (and this is where I was about to hold back but chose not to) that capital was 5 figures borrowed from the bank. My logic was: "I'm young and single (25 then), if I take this risk now with low rates, I can pay it back if I lose it all. It's better than putting money down on a house in this shaky market and be stuck with a 25 year loan only to sell it off 5 years later if I decide to move out of the city. I want to trade with the right amount of capital and see where it goes already." Say what you will, it was a make it or break it decision for me. Not the wisest thing to do, but I decided the risk reward was high enough for me.
Feeling hopeless but finally shook to my core for the first time in the markets :stickyman:, I had to figure out what to do next. I decided to plop down about 2k from my capital on "Opentrader.com" course and told myself, "ok clearly you got cocky about nothing and didn't last long on your own." I figured it would be a better investment than me trying to grind it back my disorganized way.
All I remember is watching their webinar and being sold upon their method - trading into or away from value. I was fascinated and I hadn't yet understood this is also known as auction market theory. Why did it stick with me? Because although my execution and risk management had been cowboy style, I was wise enough to realize I don't need additional complexity - and any strategies involving a bunch of indicators wasn't for me. I also needed a day trading strategy because that is where my personality is more suited. I've tried everything from position to swing trading before, and it's just not my style. But I wasn't a scalper either, I can easily overtrade. So day trading is for me (~1-3 trades).
I also had begun keeping a regular journal on a wordpress site anonymously, for my own viewing and editing. It seems to help, so I'm going to stick with journaling. So here I am trying it on a forum. Hoping I meet a bunch of great people to be around :)
Thanks for reading and hopefully we can both get something out of this trader's experience.