Positioning yourself for Success (Advanc)
Hello......
I would like to take this opportunity to reveal to you my trading philosophy. I've posted a method or two on the forum, but I thought I'd put everything on one thread. This is not an overnight task and I will add more when I get a chance.
My guess is that 99% of people won't try this method. Why? …because it takes time every day to trade and manage open positions. In fact, if you trade all currency pairs (within reason), you can spend at least 2 hours a night once you know what you are looking for. Guess what...this has to be one of the most boring things in your life. Spending 2-3 hours night after night preparing for tomorrow's trade, but... when I'm done, the rest of the time is mine because there's no need for intermediate monitoring. In fact, my nightly contact with trading has become therapeutic and has literally changed my life for the better. trading? Therapeutic?
Most of what I do is taken from other people and modified (for better or worse) into something that works for me. The thing I’m most grateful for are the books I’ve read by Bill Williams. His philosophy resonates with me, and while I also use his indicators, the way I use them is (mostly) completely different from his. Other things I've picked up along the way, some of them from people on this forum, I'm forever grateful for everything they've shown me.
For a long time, I bought everything I could get my hands on. Learned everything I could. Read everything related to trading. Last week, my best friend called me and showed me an email he received about Forex from a company that offered good returns, blah blah blah. He encouraged me to check it out. After doing some research and talking to this company, I told my friend that I didn't think I needed to buy anything more. This is a milestone for me and one of the reasons I decided to get ready to put it all down on paper and share it with you all.
Trading is a very fluid thing and a lot is open to personal interpretation. I'm also looking for ways to improve, so you may find that some things may change from time to time as I come to other conclusions. I will of course let you know when anything changes.
Having said that, I hope you enjoyed this topic. I do this for you and for myself, basically based on what one person said... "When I share my knowledge with others, I learn twice".
If you're wondering what my main philosophy is, it's this: Don't lose money when the market moves and make money when the market is trending.
The system currently uses at least 10 different entry points, and multiple market entry points can mean thousands to tens of thousands of dollars in profits in a trending market.
So please enjoy my post and I look forward to any comments you may have as we go along. Also, I eventually hope to be able to upload nightly charts and of course answer any questions you may have.
Let's have fun and make some money.
I would like to take this opportunity to reveal to you my trading philosophy. I've posted a method or two on the forum, but I thought I'd put everything on one thread. This is not an overnight task and I will add more when I get a chance.
My guess is that 99% of people won't try this method. Why? …because it takes time every day to trade and manage open positions. In fact, if you trade all currency pairs (within reason), you can spend at least 2 hours a night once you know what you are looking for. Guess what...this has to be one of the most boring things in your life. Spending 2-3 hours night after night preparing for tomorrow's trade, but... when I'm done, the rest of the time is mine because there's no need for intermediate monitoring. In fact, my nightly contact with trading has become therapeutic and has literally changed my life for the better. trading? Therapeutic?
Most of what I do is taken from other people and modified (for better or worse) into something that works for me. The thing I’m most grateful for are the books I’ve read by Bill Williams. His philosophy resonates with me, and while I also use his indicators, the way I use them is (mostly) completely different from his. Other things I've picked up along the way, some of them from people on this forum, I'm forever grateful for everything they've shown me.
For a long time, I bought everything I could get my hands on. Learned everything I could. Read everything related to trading. Last week, my best friend called me and showed me an email he received about Forex from a company that offered good returns, blah blah blah. He encouraged me to check it out. After doing some research and talking to this company, I told my friend that I didn't think I needed to buy anything more. This is a milestone for me and one of the reasons I decided to get ready to put it all down on paper and share it with you all.
Trading is a very fluid thing and a lot is open to personal interpretation. I'm also looking for ways to improve, so you may find that some things may change from time to time as I come to other conclusions. I will of course let you know when anything changes.
Having said that, I hope you enjoyed this topic. I do this for you and for myself, basically based on what one person said... "When I share my knowledge with others, I learn twice".
If you're wondering what my main philosophy is, it's this: Don't lose money when the market moves and make money when the market is trending.
The system currently uses at least 10 different entry points, and multiple market entry points can mean thousands to tens of thousands of dollars in profits in a trending market.
So please enjoy my post and I look forward to any comments you may have as we go along. Also, I eventually hope to be able to upload nightly charts and of course answer any questions you may have.
Let's have fun and make some money.
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