I have been trading for about 3 years now and have moved back and forth between fundamentals and technicals, trying to decide which suits my personality better. I have looked at systems that are based heavily on indicators, to news trading systems to taking longer term systems in a bid to not only remain profitable but generate enough of a profit to allow me to give up the day job and reach that common goal of living solely from my trading income.
What I have found is that there are a lot of systems out there that can make money in the long run, the problem is that most traders seem to over leverage their accounts and hence cannot sustain the ineveitable losses that every trader experiences. This shows me that there is a serious lack of basic understanding on what it takes to become consistently profitable. Your primary concern as a trader should be to protect your capital, if you are able to do this then the profits will follow.
In this journal I aim to share my experiences of what it has taken to get to a point of profitability. I will provide details on the trades I have taken as well as ones that I didn't (I think this is important too). I invite anyone who is interested to also add their comments on some of my posts and generally get involved :-)
I hope this becomes a positive journal where everybody has a chance to contribute, learn and even teach others. At the end of the day nobody is perfect right? so lets all try to help and learn from each other in a bid to makes those dreams a reality.
What I have found is that there are a lot of systems out there that can make money in the long run, the problem is that most traders seem to over leverage their accounts and hence cannot sustain the ineveitable losses that every trader experiences. This shows me that there is a serious lack of basic understanding on what it takes to become consistently profitable. Your primary concern as a trader should be to protect your capital, if you are able to do this then the profits will follow.
In this journal I aim to share my experiences of what it has taken to get to a point of profitability. I will provide details on the trades I have taken as well as ones that I didn't (I think this is important too). I invite anyone who is interested to also add their comments on some of my posts and generally get involved :-)
I hope this becomes a positive journal where everybody has a chance to contribute, learn and even teach others. At the end of the day nobody is perfect right? so lets all try to help and learn from each other in a bid to makes those dreams a reality.