Another awesome move & grabbed it. Did more than one of these this morning.
***If trading is difficult for you it could mean more than one thing for example:
- Do you practice patience?
- Do you force trades?
- Do you listen to your indicators & price action OR do you try to predict the price?
- Are your systems good enough or suited to your level of experience?
- Are your trades to big? (I believe in this. FUCK baby steps! Take adult steps! Life is short! Jump in & learn to swim. There are no differences between small & a large trade if traded according to your rules. But it is stressful if you risk 33% of your capital on a single trade. Done it, lived it, stressed for 30 minutes watching USDZAR. Hope it makes sense? Try to become a big trader but not a trader of a big chunk of your capital).
I love trading & I don't want to do anything else. I can stare at charts 24/7/365. I wish I had friends who I could talk Forex with 24/7/365. But they are far & few. Most people just want some great free advice & they are gone.
If you want to become better at trading it will take time & practice. All the "stuff" you need is right there waiting to be Googled! I have never paid for anything. Plenty of brilliant free stuff on the net.
Do the following:
- Go onto Webinars. Most of them are sales pitches but write down key things like what is price action etc. I have spent plenty of data & time on these, but don't be afraid when the selling starts to log out.
- Go to Seminars. Once again most of them are sales pitches with words like "ultimate" or "millionaire", write down key trading ideas. (try to find someone who is trading. ignore their philosophy on trading, try to find out what they know about indicators as an example).
- Google. (that shit is free, use it!) Use key words/phrases like, "best free scalping indicator of 2010", or "non repainting trend indicator" etc.
- Register & spend about 30 minutes a day on sites like www.babypips.com, www.forexfactory.com or www.dukascopy.com, great sites with free free free stuff & yes once again use their "search" function. Just like me there are plenty of successful traders just waiting to help someone, who cant wait to make a buddy, share some info to prove we are good or outshine another trader. (speaking of outshine, my favorite short story... I once shared a Sunday afternoon with this trader who claimed to be one of the top 5 traders in South Africa. When I could not tell him my ranking, he had this condescending smile on his face & he said. "pay me & I will teach you". Anyway he was showing me his system & balance that he had accumulated after almost two decades in the trade. Not bad but I will do much better, I know this. Claiming all indicators are rubbish & you have to trade on long time frames like Weekly bars. I agreed to avoid getting into a spat as both of us had valid points & I understood that not one shoe fits all. But in my head I was thinking your dumb ass opinions have cost you plenty of Dollars. Couple of days later he stated that he was going to buy/long the GBPUSD based on his weekly chart. I indicated that I too was looking at the weekly chart for the same pair but I would wait about 2 or 3 weeks before doing that as they would go lower before the buy opportunity was there based on my indicators. I needed a hell-yeah before I pulled the trigger on a big trade. Needles to say we had a public spat on Facebook. I was thrown out of the group. BUT I did follow his trade... Needles to say he was stopped out after 2 weeks & about 3 weeks later the price was right to buy. Should have emailed the fucker, "young Grasshopper will teach your ass").
- Read my blog! Try to be my friend. Just kidding but it could be a great start. FYI, I sometimes give away free stuff, paying it forward or something like that. Please don't abuse my kindness, "I will find you", think "Taken".