The Market is my beautiful friend. She loves me and wants to take care of me. She borrowed $20,000AUD of me and now she is paying it back. Which is very nice of her cause that $20,000 was all I had! I have had a nice break from the market while I was busy trying to deal with all the problems my loan to the market caused me. I scraped together $700 and traded again for the first time in 6 months. I spent 18 months of lurking and studying the threads here. She has started paying me back much quicker than I had anticipated and I am sorry for doubting she would ever pay me anything at all!
EDIT:Since starting this journal over two years ago I have lost another 10K totaling 30K in losses to recover before I can call myself profitable. I stopped losing money a year ago and have finally stated to achieve consistent gains after four years of struggle and pain.
EDIT 27th July 2010
To save you reading the whole thread, I have collated the educational posts on my trading techniques
I analyze from top down using trendlines, fibs, previous swing points and round numbers to determine support/ resistance. I use candlestick patterns and some chart patterns. I keep a close watch on retail positioning as a contrarian indicator. I read quite a bit of news
I have two main trading styles - multiple time frame and single time frame set ups.
1. trade bounces of higher time frame S/R on lower time frame
http://www.forexfactory.com/showpost...&postcount=367
http://www.forexfactory.com/showpost...&postcount=359
http://www.forexfactory.com/showpost...&postcount=313
http://www.forexfactory.com/showpost...&postcount=292
http://www.forexfactory.com/showpost...&postcount=299
http://www.forexfactory.com/showpost...&postcount=259
http://www.forexfactory.com/showpost...&postcount=222
http://www.forexfactory.com/showpost...5&postcount=76
http://www.forexfactory.com/showpost...9&postcount=83
http://www.forexfactory.com/showpost...&postcount=115
http://www.forexfactory.com/showpost...&postcount=118
http://www.forexfactory.com/showpost...&postcount=227
http://www.forexfactory.com/showpost...&postcount=351
http://www.forexfactory.com/showpost...&postcount=352
2. Single time frame S/R, chart patterns and candlestick
http://www.forexfactory.com/showpost...1&postcount=91
http://www.forexfactory.com/showpost...&postcount=100
http://www.forexfactory.com/showpost...&postcount=105
http://www.forexfactory.com/showpost...&postcount=113
http://www.forexfactory.com/showpost...&postcount=135
http://www.forexfactory.com/showpost...&postcount=140
http://www.forexfactory.com/showpost...&postcount=161
http://www.forexfactory.com/showpost...&postcount=200
http://www.forexfactory.com/showpost...&postcount=220
http://www.forexfactory.com/showpost...&postcount=230
http://www.forexfactory.com/showpost...&postcount=237
http://www.forexfactory.com/showpost...&postcount=243
http://www.forexfactory.com/showpost...&postcount=242
http://www.forexfactory.com/showpost...&postcount=257
http://www.forexfactory.com/showpost...&postcount=271
http://www.forexfactory.com/showpost...&postcount=272
http://www.forexfactory.com/showpost...&postcount=272
http://www.forexfactory.com/showpost...&postcount=274
http://www.forexfactory.com/showpost...&postcount=278
http://www.forexfactory.com/showpost...&postcount=284
http://www.forexfactory.com/showpost...&postcount=290
http://www.forexfactory.com/showpost...&postcount=314
http://www.forexfactory.com/showpost...&postcount=317
http://www.forexfactory.com/showpost...&postcount=318
http://www.forexfactory.com/showpost...&postcount=320
http://www.forexfactory.com/showpost...&postcount=347
http://www.forexfactory.com/showpost...&postcount=353
http://www.forexfactory.com/showpost...&postcount=365
This whole page shows how a combination of both types being used at once
http://www.forexfactory.com/showthre...=50502&page=23
Also I read a lot of news and I have been known to trade releases. Im not so interested in doing this these days
http://www.forexfactory.com/showpost...&postcount=168
http://www.forexfactory.com/showpost...&postcount=275
http://www.forexfactory.com/showpost...&postcount=139
Unfortunately there is another category of trades, revenge, boredom, impatient, hopefull and just plain senseless. These haven't helped my cause. Removing the stop to hope a loser will come back has been the account killer every time. Psychology is the most important factor
EDIT:Since starting this journal over two years ago I have lost another 10K totaling 30K in losses to recover before I can call myself profitable. I stopped losing money a year ago and have finally stated to achieve consistent gains after four years of struggle and pain.
EDIT 27th July 2010
To save you reading the whole thread, I have collated the educational posts on my trading techniques
I analyze from top down using trendlines, fibs, previous swing points and round numbers to determine support/ resistance. I use candlestick patterns and some chart patterns. I keep a close watch on retail positioning as a contrarian indicator. I read quite a bit of news
I have two main trading styles - multiple time frame and single time frame set ups.
1. trade bounces of higher time frame S/R on lower time frame
http://www.forexfactory.com/showpost...&postcount=367
http://www.forexfactory.com/showpost...&postcount=359
http://www.forexfactory.com/showpost...&postcount=313
http://www.forexfactory.com/showpost...&postcount=292
http://www.forexfactory.com/showpost...&postcount=299
http://www.forexfactory.com/showpost...&postcount=259
http://www.forexfactory.com/showpost...&postcount=222
http://www.forexfactory.com/showpost...5&postcount=76
http://www.forexfactory.com/showpost...9&postcount=83
http://www.forexfactory.com/showpost...&postcount=115
http://www.forexfactory.com/showpost...&postcount=118
http://www.forexfactory.com/showpost...&postcount=227
http://www.forexfactory.com/showpost...&postcount=351
http://www.forexfactory.com/showpost...&postcount=352
2. Single time frame S/R, chart patterns and candlestick
http://www.forexfactory.com/showpost...1&postcount=91
http://www.forexfactory.com/showpost...&postcount=100
http://www.forexfactory.com/showpost...&postcount=105
http://www.forexfactory.com/showpost...&postcount=113
http://www.forexfactory.com/showpost...&postcount=135
http://www.forexfactory.com/showpost...&postcount=140
http://www.forexfactory.com/showpost...&postcount=161
http://www.forexfactory.com/showpost...&postcount=200
http://www.forexfactory.com/showpost...&postcount=220
http://www.forexfactory.com/showpost...&postcount=230
http://www.forexfactory.com/showpost...&postcount=237
http://www.forexfactory.com/showpost...&postcount=243
http://www.forexfactory.com/showpost...&postcount=242
http://www.forexfactory.com/showpost...&postcount=257
http://www.forexfactory.com/showpost...&postcount=271
http://www.forexfactory.com/showpost...&postcount=272
http://www.forexfactory.com/showpost...&postcount=272
http://www.forexfactory.com/showpost...&postcount=274
http://www.forexfactory.com/showpost...&postcount=278
http://www.forexfactory.com/showpost...&postcount=284
http://www.forexfactory.com/showpost...&postcount=290
http://www.forexfactory.com/showpost...&postcount=314
http://www.forexfactory.com/showpost...&postcount=317
http://www.forexfactory.com/showpost...&postcount=318
http://www.forexfactory.com/showpost...&postcount=320
http://www.forexfactory.com/showpost...&postcount=347
http://www.forexfactory.com/showpost...&postcount=353
http://www.forexfactory.com/showpost...&postcount=365
This whole page shows how a combination of both types being used at once
http://www.forexfactory.com/showthre...=50502&page=23
Also I read a lot of news and I have been known to trade releases. Im not so interested in doing this these days
http://www.forexfactory.com/showpost...&postcount=168
http://www.forexfactory.com/showpost...&postcount=275
http://www.forexfactory.com/showpost...&postcount=139
Unfortunately there is another category of trades, revenge, boredom, impatient, hopefull and just plain senseless. These haven't helped my cause. Removing the stop to hope a loser will come back has been the account killer every time. Psychology is the most important factor
BTC Return This Year:
na