Dear Forex Factory,
Apologise if my English is a little rusty but has been long time since I donīt live and work in a English-spoken Country. Hope you are all well.
I met FF in 2009 and still use it for the calendar, I thought I ought a thank you note.
As of today, 2 Years as a Full Time Trader.. although still not where I would like to be in my dreams.
I though I would drop few points if anyone would need any support, encouragement.
Few points that might be useful, then feel free to ask me anything.
- I am 40, I started at 38 when I had money to survive at least one year (I didnīt use that money for trading!)
- I have been a chart-nerd for about 10 years
- I still havenīt find the holy grail.. I have some preferred areas where I am looking to buy / sell but forget about the 100% working strategy.
- Charts give you 30% of the picture. You still need some OrderFlow tools in my opinion. i.e. Futures data if you are trading FX to see where are big hands buying/selling, how is the market reacting, what is actually happening.
- Money management is the key to survive. Before winning a trade you have to be 100% sure that tomorrow you will be able to trade. I personally trade a number of lots that changes depends how far away is my stop loss. The closer, the higher. So that I always risk the same % of money.
- I donīt use hard stop loss. I close the position manually when it breaks some conditions so you are not wiped out. yes, risky. yes, you need discipline. Do I still fuck up sometimes? yes absolutely.
Have a good day!
David
Apologise if my English is a little rusty but has been long time since I donīt live and work in a English-spoken Country. Hope you are all well.
I met FF in 2009 and still use it for the calendar, I thought I ought a thank you note.
As of today, 2 Years as a Full Time Trader.. although still not where I would like to be in my dreams.
I though I would drop few points if anyone would need any support, encouragement.
Few points that might be useful, then feel free to ask me anything.
- I am 40, I started at 38 when I had money to survive at least one year (I didnīt use that money for trading!)
- I have been a chart-nerd for about 10 years
- I still havenīt find the holy grail.. I have some preferred areas where I am looking to buy / sell but forget about the 100% working strategy.
- Charts give you 30% of the picture. You still need some OrderFlow tools in my opinion. i.e. Futures data if you are trading FX to see where are big hands buying/selling, how is the market reacting, what is actually happening.
- Money management is the key to survive. Before winning a trade you have to be 100% sure that tomorrow you will be able to trade. I personally trade a number of lots that changes depends how far away is my stop loss. The closer, the higher. So that I always risk the same % of money.
- I donīt use hard stop loss. I close the position manually when it breaks some conditions so you are not wiped out. yes, risky. yes, you need discipline. Do I still fuck up sometimes? yes absolutely.
Have a good day!
David