Help to those, who want to grow their account

Many aspects of trading talked about on FF. Here I want to talk, might show, what I think is missing. And trading is a complex thing. If You miss one component...

Call Me Hunter. I chosen this name, because this is the most similar job to ours.
I trade many years ago in a small room, shared with two fellow traders. Now, They retired from active trading, my Mentoree 'finished', and most of the time, I m left alone and waiting...
So, till I feel good, I will help, here. No signal service, no monthly fee, just be normal.

Thread rules:
1, I can change the rules.
2, If some start to abuse anybody, or anything, ignore it.
3, Don t vouch for Me.
4, ...

About the Thread:
First will go through the needed components, after detail them, after questions,experiencies, examples.

The components:

1, Your AIM. Why do You trade, what is the reason behind it?

2, Your Environment and Background.

3, Market knowledge

4, 'Mental' knowledge

5, MM

Later will edit this first post, now must go.

Please go on...

How small of a room are we talkin about here?

just want to watch this thread...

HUnter,..ok lets move...i like the topic.

It s very IMPORTANT to define!

It was something I did not take seriously when I started, (sure it was told Me, do it) and years later I regretted it.
Why?
Because it decide, (or help to) a lot of things, and I mean concrete things, like acc. size, risk per trade, etc.

Want to get a lot of money is not enough.
We need some concrete Aim. What You can break down to smaller ones.
Exaples: -Grow to 100K or 1M or 10M... 1B EUR
- Reach a size, when You can live from the interest (like pension)
- Live from the profits
- get Money for a flat, a car or...
- want to learn it
- want to be in the best 1%(or best trader ever)
-get more than the neighboor has (or looks He has, because You don t know how much his debt is)
-show to sbody how great You are (it can be Yourself, too)
- combinations of these
- ........(fill it later)

When You do this, write it down. And when We finished with the basics, do it again.

There are order of importance. Queue Your aims according to that.
Example: Your first (closest aim) one must be to arrange a trader (learner) friendly environment and background. (will come back here with the next post)
Without that ...
Can You accept that fact? Learn to accept facts.
Without that on this field...
Next aim: to learn to trade, to learn what is it, really. (To learn weather it is for You, or not? )
Next aim: ....
Next : ....
And THE BIG ONE, if You have.
Know the BIG ONE, but go for something closer, first.

Setting time barriers on this field, not always good, but it depends on style and a tonn of other things. You must consider it carefully, if You want to set one.

These are the main things here. If You have Qs ask it, but don t be personnal.

I heard the office was so small he had to leave the room to change his mind.

LOL

Ha-ha.
No, I always keep My Plan.
And Yes, it IS small.

So let me guess, you lose all your money in trading forex, and this let you start thinking a lot about the issue....

No, no, nothing like that, but the results were very hectic.

Hoping you don't mind the humour above. We're listening.

So, You made Your mind to master this thing and set it as an Aim. If You think it seriously, and not satisfied with the red line crossed the blue, go for 1pip without SL, than You start collect information.

(You can skip this:
The first problem: ton of information out. Big part of it garbage, and seems even the usefull ones just part of something bigger. But You need the full picture.
Plus Some says You must find Your own style. You must manage Your trade as You think.But lot of choices there.
One works on this Mkt. , one on the other.
How to decide which one to choose?
Looks the main point is how to implement things.
And a lot of hype build his bussiness on it:
The responsibility is Yours, the choice is Yours...
The trick is that, it is TRUE on a way, just They use it as to escape from their responsibility, to selling garbage, or something what is unuseable without implementing.)

Read:
So, it looks it will take some time to separate garbage from value, and find, explore ways to use that value.
(Fortunatelly everything is reachable with some research and think and try.)
Your research will show You after You learned what is must learned, Your mental and emotional state, or psychology, or brain structure (as some call it) is the main point.
You learn it after, but You should START with it, to arrange Your Environment and Background to be as trader-, learner friendly as it can be.
Later I show You, the most important thing is Your 'brain capital' and Your money capital just come after it. You must do everything to save Your 'Brain Capital'.
(Now, I base this on something I will explain later, but it s like this: it s complex, and everything related with everything.)

What I mean by Environment and Background:

The persons, the 'feelings', and the material world around You.
They have effects on You. Some can be supportive, some horrible to Your trading. It s Your task to find out which one is helping, which is obstacle.
You will find some of them cannot be changed by one day. Example: not enough capital
Typical response: My aim is trade full time, and I want it badly, and take unneccesery risk, Your Money Capital injure like Hell, and You lost Your Brain Capital and give up.
Good response: Except the Fact, You must build up, first. How can You do that?
You can build if You trade on an appropriate way.
How can You do that?
There is NO unnecessery pressure on You. You must be Safe, financially, too. (As You see, ironically, the best state when You no need to trade for money.)
How can You do that?
Keep a partial job, or collect enough money for some Years, or combine them. But don t be dependent on Your result.

Now, the persons around You. They learned that 95% number, be sure. And You must take it seriously too.
You must be able to define and tell Your edge to Yourself and themself, too.
I advise to tell first, You just try this out first, and later will see. And do that. Trading is not for everybody. Will tell You, why.
You can do this in a neutral Environment, but If You live in an 'unfriendly' Environment, than it will errode Your Brain Capital, and You will make more mistakes.
And this is about not making mistakes. What is mistake will tell You later.

'Feelings': illnes, catastrophic or euforic events around You,or anything what cause You to feel so...etc.
Stop trading. Cure first after cont.

It s important and cannot cover detailly in one post everything, so ask if You have a Q.

If You think, it s some unnecessery bla bla, without touching any interesting point (entry signal...), just keep it for the worse days.
You know, beside the 'Let Your profit run, cut Your Losses, The Trend is Your Friend...'
Let s this place to be the 'Garage' where You can recharge, or refresh, when You want to mend a mistake or two.

Learn:

-What kind of markets we have?
-What are the differences amongs them?
-Advantages, disadvantages?
-Why the FX Mkt.?

-What is the Mkt. structure, here like? (Simpliest: search here on FF, Darkstar, Market Structure)
-What is EBS and Reuters 3000?
-What is the purpose of this Mkt.? Who are the main guys here? Why, when, how they trade?
-How do the Market Makers work?How do they connect to the Banks?
-How can You use those info?

Search, think, analyse.

Prof Hunter:
What you have stated so far can be summed up by Sun Tzu - "Know your enemy, Know yourself..."

Many who start trading do not know either. If they last long enough they may begin to understand both self and the enemy. Constant vigilance and heightened awareness is needed to know yourself and constant study is needed to know the market.

Have Fun w/ your thread Prof Hunter.

Prof Hunter:
Thanks for the thread. I'm glad to learn from somebody from my country.

YES, absolutely, yes.

which is why many find forex to be a mind-opener. possibly not profitable, but a mind-opener.