Whenever I read in forums, I had lot of thoughts, be it positive or negative threads, but those information/knowledge absorbed always seems to contradict in my head. What interest me most are those threads where FF users quarrel over who is right and wrong regarding a trivial trading philosophy, methods, results, ideas, etc, and that make internet trading forums entertaining yet unproductive in searching for the right solutions to trade for beginners.
Below are my thoughts and I had so many doubts after so many years, and lets starts with this:
Traders
Sometimes I really wonder, how do these profitable traders find so much time to edit, post, reply, explain a trading system here. Personally, posting a single picture with captions may even take me more than 10 mins, not to mention a bulk of it. If there are money to be make out of it, its still understandable. When I make money, the first thing I will do, is to simply shut my computer down, take a break, go out for a drink and chill comfortably.
Trading Systems
Have we realize that trading systems are flooded everywhere online, and did anyone think why it is so? It is because we painted our own pictures and stories on it. Eg, put any indicators down on a chart, you created a new trading system, you make the story, and that made the rules of a trading system. But in actual fact during a live trading, what will you do to that, Eg a trendline, a MA, etc? you play the bounce, or breakout?
Unless a trading system is tested, and you know it's flaw and edge, then you know how to react with your own trading system.
Accept the Fact of Price Movement
I think we should accept the fact, we cant predict a price direction, just like you can't predict which side of your face I want to slap. You can anticipate, but you are still on a probability guess, but you can react to my actions but depend on how quick you can response to my actions. We should also accept the fact, price is semi-random. That is why, you see threads of debating about price is random, no one is right or wrong. You see similar patterns, but that doesn't guarantee you the same results. Eg, technically, XXX/YYY is going up, but XYZ devalue XXX at ??? time and all of a sudden, it goes down. FX trading is a probability game.
Accept the Fact that It is possible and impossible
There are a lot of agreements and disagreement on the possibility of making money via FX trading, compounding, martingale, etc. I personally think, if you gonna plan to make huge amount of profits using small amount of capital, its extremely hard, unless you are pay off by luck or time to establish that. But if you are into making small profits, its not that hard.
Eg, use X00 bucks to milk a bigger account, take whatever kind of risk you want, if you failed, redo, all you do is only losing that small money you can afford to. Once X0000 is make, accept the fact, you cant go further, because handling a bigger trade is not that easy psychologically. I personally break that account into multiple X00 accounts, and I can afford to burn it, or grow it for the past few years. Accept the fact, you can only make an average of X00 or X000 per month, you not gonna become millionaire with a capital of X00 bucks. Unless you are the exceptional trader who are fully equipped with the skills and knowledge to make those kind of huge money.
Curse
Sometimes I felt I am cursed, why always a profitable explorer posted will end up being less profitable or non profitable. I think too much ego to prove causing that account to be hurt. It can go as long as few hundred or thousands trades without a consecutive of 3 losses, then suddenly, it show you, 4, 5, 6 losses and so on. So I think, it never useful to show negative people that FX is possible to make money, because they still don't believe it or they still can't do it even when you show them.
Mentality
I think We should always stay positive, and open to any opinions, disagreements, and knowledge to advance ourself.
If any of the points above offended anyone, I am sorry about it, I just wish to voice my thoughts of fact and hope people can stop being misguide to a longer learning journey. If you really need to curse at me, do write a 5000 words long essay, send it to yourself, and read it again at a later part, you will realize something interesting about yourself.
Good Luck.
Below are my thoughts and I had so many doubts after so many years, and lets starts with this:
Traders
Sometimes I really wonder, how do these profitable traders find so much time to edit, post, reply, explain a trading system here. Personally, posting a single picture with captions may even take me more than 10 mins, not to mention a bulk of it. If there are money to be make out of it, its still understandable. When I make money, the first thing I will do, is to simply shut my computer down, take a break, go out for a drink and chill comfortably.
Trading Systems
Have we realize that trading systems are flooded everywhere online, and did anyone think why it is so? It is because we painted our own pictures and stories on it. Eg, put any indicators down on a chart, you created a new trading system, you make the story, and that made the rules of a trading system. But in actual fact during a live trading, what will you do to that, Eg a trendline, a MA, etc? you play the bounce, or breakout?
Unless a trading system is tested, and you know it's flaw and edge, then you know how to react with your own trading system.
Accept the Fact of Price Movement
I think we should accept the fact, we cant predict a price direction, just like you can't predict which side of your face I want to slap. You can anticipate, but you are still on a probability guess, but you can react to my actions but depend on how quick you can response to my actions. We should also accept the fact, price is semi-random. That is why, you see threads of debating about price is random, no one is right or wrong. You see similar patterns, but that doesn't guarantee you the same results. Eg, technically, XXX/YYY is going up, but XYZ devalue XXX at ??? time and all of a sudden, it goes down. FX trading is a probability game.
Accept the Fact that It is possible and impossible
There are a lot of agreements and disagreement on the possibility of making money via FX trading, compounding, martingale, etc. I personally think, if you gonna plan to make huge amount of profits using small amount of capital, its extremely hard, unless you are pay off by luck or time to establish that. But if you are into making small profits, its not that hard.
Eg, use X00 bucks to milk a bigger account, take whatever kind of risk you want, if you failed, redo, all you do is only losing that small money you can afford to. Once X0000 is make, accept the fact, you cant go further, because handling a bigger trade is not that easy psychologically. I personally break that account into multiple X00 accounts, and I can afford to burn it, or grow it for the past few years. Accept the fact, you can only make an average of X00 or X000 per month, you not gonna become millionaire with a capital of X00 bucks. Unless you are the exceptional trader who are fully equipped with the skills and knowledge to make those kind of huge money.
Curse
Sometimes I felt I am cursed, why always a profitable explorer posted will end up being less profitable or non profitable. I think too much ego to prove causing that account to be hurt. It can go as long as few hundred or thousands trades without a consecutive of 3 losses, then suddenly, it show you, 4, 5, 6 losses and so on. So I think, it never useful to show negative people that FX is possible to make money, because they still don't believe it or they still can't do it even when you show them.
Mentality
I think We should always stay positive, and open to any opinions, disagreements, and knowledge to advance ourself.
If any of the points above offended anyone, I am sorry about it, I just wish to voice my thoughts of fact and hope people can stop being misguide to a longer learning journey. If you really need to curse at me, do write a 5000 words long essay, send it to yourself, and read it again at a later part, you will realize something interesting about yourself.
Good Luck.
The only winner is the one who survive the longest...
