Hey Everyone,
It's indeed very funny
how things suddenly look and sound to me as it concerns the FX.
Once, as a superstar newbie (I still am anyway), the search was for a system that could give huge and consistent profits in the 95% region. It had to be simple, preferably an EA or some real-easy contraption that'll rein in a whole hell of profit. It's very funny to imagine that upstarts in FX find it extremely difficult to accept the fact that you must lose money sometimes in Forex. We all come in seeing all Green in our eyes
and dive in headlong. Many leave with bitter stories, others become pessimists who say: "Like hell the big boys have cornered the market. No average guy can beat the forex market!". But some learn the hard way; from the school of hard-knocks.
The word of caution's this: No system, even with a reliability of a 100% can guarantee you long term success in the FX! You'll only think you're making lotsa profits only to end up giving them back. I had to learn this the hard way....
I started to wonder why it was that I was so good at analysing the charts outside the markets, and once my platform's connected to the broker's server, I (as a whole being) change. My temperature rises, i become jittery, and the many thoughts in my head overshadows the rational analysis I had carried out before the price data started streaming in. All those months, I actuall thought I was playing the FX markets. I was a fool. The son-of-a-gun FX was actually playing me big time for a fool.
My break-through came when I realized this truth: the market was playing me! It told me when to get excited ( by moving up- positive pips), it told me when to go sad ( by moving down down - negative pips), and also when to go red in the face, nervous and mad ( by teasing my stop-loss). I was his pun, his favourite toy.... how pathetic.
Why was It always playing me? SIMPLE, i was risking too much. Some noob told me the other day that he lost 80% of his account. Sorry, I've been in the zone before.
You can't be a millionaire overnight trading Forex but u can do that in 4-5 years if you're serious. Forget about the money right now, focus on being a good trader. My trading changed the day I changed my resolution from "Make pips and get rich or die tryin" to " I can be a Pro..". At this point, i became a different person.
I automatically removed the price terminal (Price Quote/data window) from my trading screen - It was the principal cause of my hypertensive trades. I risked <2% of my account. And i stopped bothering about profits and focused on the best ways to cut losses short and reduce draw-downs. I also did something I found unbelievable: I focused only on the GBP, nothing else!
Everything's changed. I started to Plan my trades before i got into the session, and didn't bend the rules because of a new pride: "I wanna trade like, be confident like and feel like a pro". Though the market still nudges me here and there sometimes, I'm getting used to it... It'll pass with time... and I'll be a pro like OrangeRoshan.
I'm happy I've come to realize that success in FX is simply: 30% Money management, 50% psycology and 20% strategy.
With what I see on my Money management program, I'll be in the millionaire's club in 4 years time. It'll be my pleasure to wait for this.... Compound interest Will not fail me. The higher it gets in the FX markets, the cooler it becomes.....
Hope this testimony helps many who are beginning to not see a career in the FX, particularly SRDC...
Loyal as always Master Roshan....
Over and out...
John-Paul
It's indeed very funny
how things suddenly look and sound to me as it concerns the FX.Once, as a superstar newbie (I still am anyway), the search was for a system that could give huge and consistent profits in the 95% region. It had to be simple, preferably an EA or some real-easy contraption that'll rein in a whole hell of profit. It's very funny to imagine that upstarts in FX find it extremely difficult to accept the fact that you must lose money sometimes in Forex. We all come in seeing all Green in our eyes
and dive in headlong. Many leave with bitter stories, others become pessimists who say: "Like hell the big boys have cornered the market. No average guy can beat the forex market!". But some learn the hard way; from the school of hard-knocks.The word of caution's this: No system, even with a reliability of a 100% can guarantee you long term success in the FX! You'll only think you're making lotsa profits only to end up giving them back. I had to learn this the hard way....
I started to wonder why it was that I was so good at analysing the charts outside the markets, and once my platform's connected to the broker's server, I (as a whole being) change. My temperature rises, i become jittery, and the many thoughts in my head overshadows the rational analysis I had carried out before the price data started streaming in. All those months, I actuall thought I was playing the FX markets. I was a fool. The son-of-a-gun FX was actually playing me big time for a fool.
My break-through came when I realized this truth: the market was playing me! It told me when to get excited ( by moving up- positive pips), it told me when to go sad ( by moving down down - negative pips), and also when to go red in the face, nervous and mad ( by teasing my stop-loss). I was his pun, his favourite toy.... how pathetic.
Why was It always playing me? SIMPLE, i was risking too much. Some noob told me the other day that he lost 80% of his account. Sorry, I've been in the zone before.
You can't be a millionaire overnight trading Forex but u can do that in 4-5 years if you're serious. Forget about the money right now, focus on being a good trader. My trading changed the day I changed my resolution from "Make pips and get rich or die tryin" to " I can be a Pro..". At this point, i became a different person.
I automatically removed the price terminal (Price Quote/data window) from my trading screen - It was the principal cause of my hypertensive trades. I risked <2% of my account. And i stopped bothering about profits and focused on the best ways to cut losses short and reduce draw-downs. I also did something I found unbelievable: I focused only on the GBP, nothing else!
Everything's changed. I started to Plan my trades before i got into the session, and didn't bend the rules because of a new pride: "I wanna trade like, be confident like and feel like a pro". Though the market still nudges me here and there sometimes, I'm getting used to it... It'll pass with time... and I'll be a pro like OrangeRoshan.
I'm happy I've come to realize that success in FX is simply: 30% Money management, 50% psycology and 20% strategy.
With what I see on my Money management program, I'll be in the millionaire's club in 4 years time. It'll be my pleasure to wait for this.... Compound interest Will not fail me. The higher it gets in the FX markets, the cooler it becomes.....
Hope this testimony helps many who are beginning to not see a career in the FX, particularly SRDC...
Loyal as always Master Roshan....
Over and out...
John-Paul
I grumbled I had no shoes until I met a man who had no toes...
: ) and I thought its more easy in the 04H chart to see the trend and draw the channel for trade on the 01Hour channel. What you thinks guys and gals?
