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- Status:
- Applied PA™
- Last Online:
- Aug 22, 2012
- Using Local Time:
- 3:58am (6 hr ahead of you)
- Joined Forex Factory:
- Mar 2009
Input by stefx
About
- Trading From:
- Austria (map)
- Age:
- 49 years old
- Occupation:
- Sen. Software Developer and Project Manager
- Trading Style(s):
- Fundamental Analyst, Technical Analyst
- Markets Traded:
- Equities, Forex
- Favorite Trading Book:
- Trading in the Zone, Bird watching in lion country. (Amazon)
- Biography:
- Finally found my way, now I know what I do and why I do and that I do.
Trading for me is the repetition of the following steps and by being rigid in the rules and flexible in the expectations there is nothing before, in between and after those points.
1. Identify the major trend and confirm with fundamentals
2. Find S&R based entry range in the direction of the trend.
3. Define the loss. The market will remind randomly about the game of probabilities. Prepare for that !
4. Enter the market and let the trade develop. There is no such thing as an exactly predictable entry price !
5. Exit the trade on changes invalidating the reason for the trade.
6. Take the profit. As easy as it sounds so difficult it is. To identify a profit it is inevitable to have a business plan with a realistic goal. It is a profit if it contributes to reach this goal. The accumulation of profits not a single one reaches the goal. Very simplified speech, but failure to handle this almost defeated me. Bear down greed to avoid entry is easy. Prefer the available profit over a higher fictional one while the market already turned is difficult.
Are you losing because you
- treat trading not as regular business ?
- could be positive count floating profits finally ended up as loss ?
- ignore the fundamentals ?
- don't care about money flow ?
- believe all currencies are the same ?
- think a brain well suited to physical survival can't subconscious kill financially ?
- consider leverage as something helpful ?
- don't know that not all money transfer is for profits ?
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