My trip from amateur to proficient forex trader

I play poker too, but I find FX is even better odds than POKER. But you have better odds than the other new comers!

No EMA 50 or any other indicator will help you unless you help yourself! to me you're starting from the roots even if you have better chance to succeed than others. U know MM even with BAD strategy you should be ahead. "THINK ABOUT IT". NATGEO lol

Thanks Togu for you feedback! I do believe that I have good understanding of MM and this will by itself help me in my journey to being a great trader. My problem I think is the absence of discipline in my trading. I want to believe that forex is like a job and I can fully focus on it, but when you earn 1-3 dollar it hard to take it seriously. I do have a large volume of money that I want to invest in forex but I need first to be constant in my trading. Togu do you maybe have a good book to recommend, specific about the mental part of trading? I do read as much about trading as about the mental part, and I do believe that using hypnoses and other technics to affect and shape my subconscious will greatly affect my journey to become the trader I dream about being!

Happy trading
@materyb

Hallo today I injured myself and I lost all the willpower to go and trade, so instead I set down and decide do analyze my trading.

Yesterday I lose $4 and get down to 418 again but I was quite pleased with my reaction to the loss. I wasn’t angry or anything instead I was more excited about seeing the results if I was right or wrong later that day. (see pic)
I saw the accumulation but I chose to ignore it. I was so convinced by the head and shoulder pattern that I did not accept any other outcome. This was obviously wrong to do but I at least have courage admit it to myself. And I
we learn best from our mistakes.

I do all the mistakes that all the trading books say not to do, which I think in retrospect is pretty funny. After studying the chart I will change my system again. I fell that I can predict price very good at the 10pips level and the idea of holding a position 1-3min is very intriguing. With a SL of 5pips and TP of 10pips I will have an R/R 1:1.75 (minus spread) and I will start very slow and low to test the system. I will test with real money because demo testing I feel that you lose a great part of the experience and it not a good way to test a system. (you lose the mental part of trading.)

I feel that the mental tools I have used as hypnoses etc. have gave me an edge over other beginners but my problem now is to get my discipline right and it will be a great challenge. I do have discipline in other areas as training and learning. I run every day before breakfast and I forces myself to read and study every day so I very confident that I can bring discipline into my trading!

Now I reading a great book about volume “Investing with Volume Analysis” by Buff Dormeier or rereading it =P. And the tread by Clifton “VSA with Clifton” have help a lot when trying to apply the knowledge to my trading. (http://www.forexfactory.com/showthread.php?t=297275)

Have started to read the “reminiscences of a stock operator” and I hope that next week will be a good week.
Happy trading
@materyb

Spännande med en svensk som skriver journal här
Kommer självklart följas!
Själv så strävar jag efter att få ihop endast 10pip/dag.

Hej Anders, Skit kul med en svensk! Det är bara att jobba på och inte ge upp! För att hålla en denna tråd ren och att alla som är intresserade ska kunna förstå så skulle jag kunna fråga om du skulle kunna hålla dig till engelska jag personligen blir väldigt irriterande när folk börjar skriva på tyska eller annat språk med varandra i en tråd och jag tror inte jag är ensam om denna erfarenheten.

Du kan gärna skicka pm på svenska.

It the weekend and it time to do something interesting . I decided to summarize the book “Investing with volume analysis” by Buff Dormeier. The goal is understand the book better but I hope that I can interest someone and we can have a nice discussion later.

the rar have a torrent for fast and free download ^.^
Happy trading
@materyb

Materyb,

You still learning about forex trading? I have enjoyed your journal and would hate to see you give it up.

Thanks for the kind words!

I would like to continue but I have a startup to run and I don’t have much time for forex anymore, I will continue this journal when my company is running smoothly in about three or six mouths.


Happy trading
/M

Hi, have you succeeded in Forex? or business? tell us more.