MJ, it's been a really long journey for me. I suppose I had been a bit of a slow learner. I wasted a lot of money and time seeking to follow trading systems which others swore by. I have traded many instruments and taken a few of those techniques over into Forex trading. For instance, the pyramiding of trades was brought over from my commodity futures trading account. I read each of the most popular trading books and backtested many different strategies. Lots of my conclusions were reached through backtesting by me and from others who focus on this type of thing. For me personally, it wasn't as though a light bulb switched on. Over a very long period of research, backtesting and forwards testing in a live account, generating rules and learning to follow them, my results went from negative, to marginally negative, to about break to positive. The psychology of trading was the travel as many others have said. I still struggle occasionally with it. Every day cut losses small, let profits run, until it stinks follow the trend.Originally Posted by ;
I have never promised that my approaches will work for everyone, or that others haven't discovered approaches that work for them. If somebody can incorporate any element of my expertise to save themselves a lot of time and money that's worth our effort. For instance, I have said I only risk 0.5% of my account balance per transaction. This was a tough lesson for me to understand and it cost years of lifespan and a lot of hard earned funds. I suspect others don't advise this to new traders because they did not travel the same street as I did, but it is good for me. Maybe blowing out at least one account and wasting years of lifespan seeking to draw waves is merely a rite of passage into this enterprise. I think information I obtained from experienced traders helped move me along my trip and I really don't think I could have left it. I'm not selling anything here. That's great if some of my ideas help. If not, then find answers elsewhere and proceed. That. - G