Hi Everyone,
Although I am new to Forex Factory I have started this thread as I have seen many threads both on this forum and others with questions about whether it is actually possible to make money trading Forex.
So I thought it might be nice to have a thread where someone who does trade for a living, shares ideas, trading plans etc.
Hopefully this thread will eventually provide encouragement for those who are new to the game and seek a little reassurance.
I wanted to put this thread in the Interactive Trading forum as it is probably more suited there but apparently I do not have the privileges, so if any of the admins can move this across it would be much appreciated.
So a little about myself… I am a full time trader, I trade day in day out to make a living. I do not claim to own a crystal ball and that means I am wrong a good amount of the time, however I am right enough of the time to remain net profitable.
I don’t trade one specific system; I trade according to what the market is doing at that particular time. So when the market is trending heavily I will undoubtedly have some medium to long-term positions on the table in order to benefit from the longer-term trend.
By the same token I will also day trade in and out of the markets to keep the scoreboard ticking.
I trade both Technicals and Fundamentals as I believe they are both equally as important, and know that I personally trade better when I take both into account. Having said that, I take my entries and exits purely from the Technicals.
The one thing that does remain constant however is that I will trade in the direction of the MOMENTUM, I will never, ever stand in front of a train or try to catch a falling knife. Some people are able to do this; I personally cannot, as logically it doesn’t make sense to me.
I think this is an important point, this thread is not about a single system, as there are many that can make money, it is more about the mindset you need to have to be successful.
As traders we need to understand that we cannot know what the next move is going to be, we can only use the information available to us to put us in a position where we can REACT to the price when the time is right.
What I will attempt to do in this thread is provide my plan for the day in the mornings (when I have time), and then update it throughout the trading day as and when I have any information I believe will be helpful to the community.
I hope this thread over time benefits the community here at Forex Factory and welcome anyone who wants to participate.
Best
AFX
Although I am new to Forex Factory I have started this thread as I have seen many threads both on this forum and others with questions about whether it is actually possible to make money trading Forex.
So I thought it might be nice to have a thread where someone who does trade for a living, shares ideas, trading plans etc.
Hopefully this thread will eventually provide encouragement for those who are new to the game and seek a little reassurance.
I wanted to put this thread in the Interactive Trading forum as it is probably more suited there but apparently I do not have the privileges, so if any of the admins can move this across it would be much appreciated.
So a little about myself… I am a full time trader, I trade day in day out to make a living. I do not claim to own a crystal ball and that means I am wrong a good amount of the time, however I am right enough of the time to remain net profitable.
I don’t trade one specific system; I trade according to what the market is doing at that particular time. So when the market is trending heavily I will undoubtedly have some medium to long-term positions on the table in order to benefit from the longer-term trend.
By the same token I will also day trade in and out of the markets to keep the scoreboard ticking.
I trade both Technicals and Fundamentals as I believe they are both equally as important, and know that I personally trade better when I take both into account. Having said that, I take my entries and exits purely from the Technicals.
The one thing that does remain constant however is that I will trade in the direction of the MOMENTUM, I will never, ever stand in front of a train or try to catch a falling knife. Some people are able to do this; I personally cannot, as logically it doesn’t make sense to me.
I think this is an important point, this thread is not about a single system, as there are many that can make money, it is more about the mindset you need to have to be successful.
As traders we need to understand that we cannot know what the next move is going to be, we can only use the information available to us to put us in a position where we can REACT to the price when the time is right.
What I will attempt to do in this thread is provide my plan for the day in the mornings (when I have time), and then update it throughout the trading day as and when I have any information I believe will be helpful to the community.
I hope this thread over time benefits the community here at Forex Factory and welcome anyone who wants to participate.
Best
AFX
on H4. Whether this bears any significance in this bull run (accidental pun), remains to be seen.
AFX-UK