Lately, I have undergone somewhat of a change in perspective on my trading, after losing $$$ trying to trade TA based systems, I just threw the whole lot out. I now use price action and support & resistance and finally I can make money! Obvously this is a dramtic over simplification of what has happened.
This got me thinking, the whole process has a lot of parallels with learning to surf...You stand on the beach looking at the waves thinking 'this is going to be so much fun', but then you get out into the water and get pounded, you realize things are not going to be so easy.
Only by relentless persistence do you get anywhere, one of the first things you learn is when not to surf, slowly you get to know the moods of the ocean, what to look for in waves, what rips look like etc. Then one day you realize you can surf! it just creeps up on you, OK you may not be Kelly Slater, but you can paddle out and get waves. Basically the actions have become unconscious.
This is the same as trading, you look at a chart and think 'man, if I had sold there I would have made $$$!' of course we quickly find out that things are not so easy. With forex however, we go looking for methods 'when the XYZ is bigger than ABC, sell!', of course, none of this works, otherwise we would all be rich.
To take the surfing analogy, this is like saying 'when the water is a certain shade of blue and the sun is at 45, stand up!' this is obvously doomed to fail, of course there are certain basics you need to know (e.g. don't risk 50% of your account/don't try to surf 20ft waves), but apart from that, my theory is that the rest comes from experence.
One day you pull up a chart and setups start leaping out at you, there is no way to explain this, anymore than you can explain to somebody how to surf. Only after time do these things start to happen, time spent sitting infront of screen losing money with BS systems.
So this is my theory, methods are useless, you need to lean to trade the market, there is no simple system for this, only persistence, experence & basics will get you there. 1000's of smart people have been throwing indicators onto screens and losing now for years, what makes you think you will be any different?
This got me thinking, the whole process has a lot of parallels with learning to surf...You stand on the beach looking at the waves thinking 'this is going to be so much fun', but then you get out into the water and get pounded, you realize things are not going to be so easy.
Only by relentless persistence do you get anywhere, one of the first things you learn is when not to surf, slowly you get to know the moods of the ocean, what to look for in waves, what rips look like etc. Then one day you realize you can surf! it just creeps up on you, OK you may not be Kelly Slater, but you can paddle out and get waves. Basically the actions have become unconscious.
This is the same as trading, you look at a chart and think 'man, if I had sold there I would have made $$$!' of course we quickly find out that things are not so easy. With forex however, we go looking for methods 'when the XYZ is bigger than ABC, sell!', of course, none of this works, otherwise we would all be rich.
To take the surfing analogy, this is like saying 'when the water is a certain shade of blue and the sun is at 45, stand up!' this is obvously doomed to fail, of course there are certain basics you need to know (e.g. don't risk 50% of your account/don't try to surf 20ft waves), but apart from that, my theory is that the rest comes from experence.
One day you pull up a chart and setups start leaping out at you, there is no way to explain this, anymore than you can explain to somebody how to surf. Only after time do these things start to happen, time spent sitting infront of screen losing money with BS systems.
So this is my theory, methods are useless, you need to lean to trade the market, there is no simple system for this, only persistence, experence & basics will get you there. 1000's of smart people have been throwing indicators onto screens and losing now for years, what makes you think you will be any different?
The breaking of a wave cannot explain the whole sea.
It's assumed you also know that experinced surfers are not immune to being pounded occasionally, but have a skill set in place to help minimize the damage.
