Hey guys,
Have been around reading the forums for quite some time. I have really learnt much from forexfactory (maybe too much), and now I believe I should try my best to give back to the community.
I am not saying that by following my trades now, you will be able to make money. I am still not a profitable trader, and maybe that is why I am starting a journal here. From what I have read all these while, one of the main reasons for traders to be successful is that they keep a detailed trading log. This is what I aim to achieve here - posting every single trade, be it within or against my system, winning or losing. In this way, I will be able to control myself from going trigger-happy knowing that I have the community (and myself) to account to. I must admit that I am a scalper and I tend to enter trades based on every single minor resistance/support I see. I know that it isn't healthy at all, and it might be the main reason why I am not making money yet.
I hope that this journal will be an inspiration to many; looking at someone who starts with a mere $30 on FXCM micro, and growing his account to $50,000. I am not claiming that I will not be making any deposits. In fact, if I am doing well and have extra cash, I will constantly be depositing more funds to grow my account. Is this achievable? I don't know as of now, but it doesn't hurt trying, does it?
Another reason to start this journal is that I was inspired by Napoleon Hill's Think and Grow Rich. For some of you who might not be familiar with his work, this is the exact portion of the book that inspired me to start this journal. It is none other than the 6 definite, practical steps for riches and success.
First. Fix in your mind the exact amount of money you
desire. It is not sufficient merely to say “I want plenty of money.”
Be definite as to the amount. (There is a psychological reason for
definiteness which will be described in a subsequent chapter).
Second. Determine exactly what you intend to give in
return for the money you desire. (There is no such reality as
“something for nothing.)
Third. Establish a definite date when you intend to possess
the money you desire.
Fourth. Create a definite plan for carrying out your desire,
and begin at once, whether you are ready or not, to put this plan
into action.
Fifth. Write out a clear, concise statement of the amount of
money you intend to acquire, name the time limit for its
acquisition, state what you intend to give in return for the
money, and describe clearly the plan through which you intend
to accumulate it.
Sixth. Read your written statement aloud, twice daily, once
just before retiring at night, and once after arising in the
morning. AS YOU READ—SEE AND FEEL AND BELIEVE
YOURSELF ALREADY IN POSSESSION OF THE MONEY.
I am a huge fan of Napoleon Hill and self-improvement. Therefore, if I am unable to contribute in terms of trading for the time being, I will be posting snippets of quotes or passages that I find useful in my trading to share with the community.
Have been around reading the forums for quite some time. I have really learnt much from forexfactory (maybe too much), and now I believe I should try my best to give back to the community.
I am not saying that by following my trades now, you will be able to make money. I am still not a profitable trader, and maybe that is why I am starting a journal here. From what I have read all these while, one of the main reasons for traders to be successful is that they keep a detailed trading log. This is what I aim to achieve here - posting every single trade, be it within or against my system, winning or losing. In this way, I will be able to control myself from going trigger-happy knowing that I have the community (and myself) to account to. I must admit that I am a scalper and I tend to enter trades based on every single minor resistance/support I see. I know that it isn't healthy at all, and it might be the main reason why I am not making money yet.
I hope that this journal will be an inspiration to many; looking at someone who starts with a mere $30 on FXCM micro, and growing his account to $50,000. I am not claiming that I will not be making any deposits. In fact, if I am doing well and have extra cash, I will constantly be depositing more funds to grow my account. Is this achievable? I don't know as of now, but it doesn't hurt trying, does it?
Another reason to start this journal is that I was inspired by Napoleon Hill's Think and Grow Rich. For some of you who might not be familiar with his work, this is the exact portion of the book that inspired me to start this journal. It is none other than the 6 definite, practical steps for riches and success.
First. Fix in your mind the exact amount of money you
desire. It is not sufficient merely to say “I want plenty of money.”
Be definite as to the amount. (There is a psychological reason for
definiteness which will be described in a subsequent chapter).
Second. Determine exactly what you intend to give in
return for the money you desire. (There is no such reality as
“something for nothing.)
Third. Establish a definite date when you intend to possess
the money you desire.
Fourth. Create a definite plan for carrying out your desire,
and begin at once, whether you are ready or not, to put this plan
into action.
Fifth. Write out a clear, concise statement of the amount of
money you intend to acquire, name the time limit for its
acquisition, state what you intend to give in return for the
money, and describe clearly the plan through which you intend
to accumulate it.
Sixth. Read your written statement aloud, twice daily, once
just before retiring at night, and once after arising in the
morning. AS YOU READ—SEE AND FEEL AND BELIEVE
YOURSELF ALREADY IN POSSESSION OF THE MONEY.
I am a huge fan of Napoleon Hill and self-improvement. Therefore, if I am unable to contribute in terms of trading for the time being, I will be posting snippets of quotes or passages that I find useful in my trading to share with the community.
