I'm ready to give Forex another go. First some background and general thoughts.
I've done a fair amount of reading over the years about stocks and trading in general. Books like The Intelligent Investor (Graham), Trade Your Way to Financial Freedom (Tharp), Common Stocks and Uncommon Profits (Fisher), High Probability Trading (Link). I have had some success with buy-and-hold stock investing, mostly in buying good companies after the market unfairly drags them down (I'm sure you can think of a few examples of this since 2008).
Specific to forex, I've put in quite a few hours developing, coding, back-testing, and optimizing MT4 EAs. Nothing too complex, but it was enough to show me how brittle automated systems can be, and the problems with optimizing for the past. I laster ran across the James16 thread, and tried manual demo trading the weekly/daily charts looking for price action around PPZs. I dropped it after 2-3 months because I only got a few entry signals, often with too low R:R to use. That was about 6 years ago.
I'd love to be able to trade forex as my primary income, but I'm still skeptical how likely that is. I guess I still see the markets as mostly random, which erodes any confidence I might have in gaining a trading edge. In the spirit of optimism however, I'm going to give this business another try.
I've done a fair amount of reading over the years about stocks and trading in general. Books like The Intelligent Investor (Graham), Trade Your Way to Financial Freedom (Tharp), Common Stocks and Uncommon Profits (Fisher), High Probability Trading (Link). I have had some success with buy-and-hold stock investing, mostly in buying good companies after the market unfairly drags them down (I'm sure you can think of a few examples of this since 2008).
Specific to forex, I've put in quite a few hours developing, coding, back-testing, and optimizing MT4 EAs. Nothing too complex, but it was enough to show me how brittle automated systems can be, and the problems with optimizing for the past. I laster ran across the James16 thread, and tried manual demo trading the weekly/daily charts looking for price action around PPZs. I dropped it after 2-3 months because I only got a few entry signals, often with too low R:R to use. That was about 6 years ago.
I'd love to be able to trade forex as my primary income, but I'm still skeptical how likely that is. I guess I still see the markets as mostly random, which erodes any confidence I might have in gaining a trading edge. In the spirit of optimism however, I'm going to give this business another try.