- Commercial Member
- Last Online:
- Dec 16, 2015
- Using Local Time:
- 3:09am (7 hr ahead of you)
- Joined Forex Factory:
- Oct 2010
- 52 Posts
- Forum Posts:
- 1 Thread Started 51 Thread Replies
Input by JamesP
- Trading From:
- Cape Town, South Africa (map)
- 41 years old
- Trading Style(s):
- Quantitative Analyst, Technical Analyst
- Markets Traded:
- Equities, Forex
- Contracts Traded:
- Spot, Futures Options
- Favorite Trading Book:
- Master day trader; Velez (Amazon)
- Trading is one part skill one part emotion and one part whatever you think. Its like a relationship with someone you have to give them respect and space but also be brave and make decisions to forward and increase the gain for both.
I have tried everything under the sun to make my retail trading career take off, mostly all self taught but i come from a training background which put me in a good position to learn and assist others in a circle of life kind of theory which helped me whilst teaching thus see room for change and improvement.
Thanks ForexFactory for the stella website and service!!
Some tips: backtest, backtest, backtest!!! you will see in 2002-2009 ranges were extreme these days 2012 era they are half that, so think about it, can you really use the same stop loss and strategy etc. It has to suit all the past and future if you want to stay in this game. Testing and money management are key to trading success. Use excel to the max, gain docs to help with trade sizes and also whilst testing calculate accumulated losses / how the strategy would have panned out. The more testing the better, and the more detail the safer.
Finally: dont be greedy, back test with a passion and trade with fun but always be prepared and have contingencies in place.. know the worst case scenario and how you are going get out of it.
..The fruit of your labour is relative to your enjoyment of wine..
..The sun rises and it sets but not always in exactly the same place..
May the pips be with you.
Input by JamesP