Hello, I've been studying forex for a little over a year now and I have a few questions for all of the traders here.
When I started learning forex, there were many forums to read, and many different approaches to forex trading. I was very confused and didn't know where to start (paradox of choice: why more is less).
Therefore, the motivation for this thread is to find out where each and everyone of you started learning forex. And how we can deconstruct the learning process to find the optimal way to learn (or profitability).
I still consider myself a beginner in forex trading, but I have many questions to ask and I'm willing to listen. I would like to ask each one of you that drop by this thread to take 5 minutes of your time to answer my questions. It may help existing and new traders find a more efficient/effective method of learning.
The following are my questions:
1. How long has it taken you to become consistent in your trading?
2. What kind of trader are you? (ie. fundamentals, technicals, price action, swing/day/position trader, etc)
3. Name the most important aspect/your edge that you apply to your trading (not the system edge where it wins 80% of the time having 1:2 R:R). This could range from using correct risk management, having a certain psychological mindset, finding the method that suits your personality, etc. Please give more details for this question if possible. If you don't know the answer to this question, perhaps it's time to reflect and find your edge.
I will start off by answering these myself.
1. Not consistent yet, still on demo.
2. Swing trader, trading using relative strength of currencies.
3. The most important aspect I apply to my trading is my psychological mindset. I have just started reading Mark Douglas's Trading in the Zone and I'm starting to develop the right psychological mindset for trading. I played a lot of football not too long ago and I can relate to Mark Douglas when he mentioned about the athlete's zone and how we should be in that mind state when trading. However, I don't know if this is the way to becoming more consistent in my trading. My efforts could be in vain for all I know.
When I started learning forex, there were many forums to read, and many different approaches to forex trading. I was very confused and didn't know where to start (paradox of choice: why more is less).
Therefore, the motivation for this thread is to find out where each and everyone of you started learning forex. And how we can deconstruct the learning process to find the optimal way to learn (or profitability).
I still consider myself a beginner in forex trading, but I have many questions to ask and I'm willing to listen. I would like to ask each one of you that drop by this thread to take 5 minutes of your time to answer my questions. It may help existing and new traders find a more efficient/effective method of learning.
The following are my questions:
1. How long has it taken you to become consistent in your trading?
2. What kind of trader are you? (ie. fundamentals, technicals, price action, swing/day/position trader, etc)
3. Name the most important aspect/your edge that you apply to your trading (not the system edge where it wins 80% of the time having 1:2 R:R). This could range from using correct risk management, having a certain psychological mindset, finding the method that suits your personality, etc. Please give more details for this question if possible. If you don't know the answer to this question, perhaps it's time to reflect and find your edge.
I will start off by answering these myself.
1. Not consistent yet, still on demo.
2. Swing trader, trading using relative strength of currencies.
3. The most important aspect I apply to my trading is my psychological mindset. I have just started reading Mark Douglas's Trading in the Zone and I'm starting to develop the right psychological mindset for trading. I played a lot of football not too long ago and I can relate to Mark Douglas when he mentioned about the athlete's zone and how we should be in that mind state when trading. However, I don't know if this is the way to becoming more consistent in my trading. My efforts could be in vain for all I know.