When asked about reading through hundreds or thousands of posts, it got me thinking. There is an entire story of some unknown guy, who started to trade, for "reasons", and went through the entire spectrum over several years. And so in that, there may be something worthwhile. I don't really feel that there is, as I sit today, because a lot of it was just "noise".
But, maybe it does give an example of the wide range of experiences of a wannabe trader. How learning to trade shifts the mind, rewards and frustrates and teases and eludes, and intoxicates, brings joy and triumph, brings misery and defeat. And ultimately, understanding. A different way of thinking than could have existed without. A major shift.
But in the "how to trade" aspect, there is not much there to read, other than;
Understand your market(s), believe in your approach, quantify your plan, winners bigger than losers, honor max down, relax, there is a reason the majority fail, focus on trading well, not making money, find what makes you happy...
All of the prior posts could be summed up in those few words.
There are things that are statistically significant, and those are the ones to focus on. But there is not just one and how they align is never quite the same, but always similar.
The whole thought of targets being x times stops seems absurd now. Not the same as winners vs losers. And while I still do prefer targets being much bigger than stops, it is not a necessity. Scaling has shown that, along with a willingness to be open to something new. Foreign maybe. Alien is not out of possibilities...
Trading as a full time occupation is possible though, once the mind accepts it for what it is. And the more that settles in, the better it gets.
Last edited by GaryD; December 9th, 2013 at 12:00 PM.
Reason: minor rewording, OCDish
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The red lines show entry to loss. The green lines show entry to win. Those are just "trade" lines, showing what happened after the fact.
I removed the indicators, for a lot of reasons. The real story being that, I bought in a great location, and closed out of fear, or doubt, or being conservative, or any other reason that traders do silly things.
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Thank you, this helps alot. I had a few big wins last week but lost most of it trying to short the euro so i stopped and am looking for other pairs until it changes up. Im a counter trend trader by heart so im always looking for reversion for some reason.
Im trying to get away from mp indicators for cu4encies bc im starting to visualize it instead. Im also starting to find they arent that accurate like with futures but the concepts still work from a bird's eye. What indies do u use for currencies?
Last edited by Itchymoku; December 10th, 2013 at 09:42 PM.