Well, after much battering by various folk, I've decided to start a journo here too. (and it may keep me trouncing around in other's threads too you never know...). Also, I thought I would sneak it in stupid hours on Saturday morning, so hopefully it won't get spotted too soon. Low enough volatility on posts/readers to maybe push it just out of sight before Monday.
Firstly and foremostly, sorry BWR for the name, I hope you didn't copyright the first one . It's one of my favourite threads on FF, so I drew inspiration...
Right, I'm not going to give you the War 'n Peace intro, but I'll try a brief overview.
I've been trading for quite some time, about 13 years give or take a few.
This is my 5th live year trading the forex.
I don't know what kind of trader I am. The whole day-, swing-, position- thing urks me a bit, but that's for another day.
All I do know is how I trade, so for all intensive purposes of having a cool label too, I'll say I'm a Retracement Trader.
I don't trade every day, but sure wish I could, and am getting closer to being able to. I'm benefiting more and more from OPL nevermind OPM, so that day is drawing ever near. Which is another reason for this. I find myself with enough time to actually keep two journals, although, I doubt this will be a patch on my off-line one...maybe some day.
I love trading. So my "outlook" may seem short most of the time, but it really isn't. The reason I mention this is because, IMO, if you trade long(er)-term positions, you are stepping into the realms of being an "investor", not a "trader", again, debate for another day.
Another reason is because, whether I'm right or not, the only way I seem to have been profitable in the first place, and been able to stay profitable is not due to large account size, large positions or anything like that. It has been due to sheer volume of trades (and MM goes without saying obviously). I'm not getting into the whole "the spread will kill you eventually" argument over that statement either.
I am in a position where I have a properly capitalised account to "daytrade" if I want to, so I do.
I don't have any real system. I trade totally discretionary. That does not mean I don't have a plan, which is more of a plan of action btw, than hard 'n fast rules. A bit of Red/Amber/Green analysis on things. (nothing wrong with a bit or RAG-analysis in life)
I have pieced together from what I've learned. So if you see any of your "work" in here, apologies for the obvious plagiarism, but hey, maybe you shouldn't have made your stuff so good in the first place
I have however been trying to come up with some quirky name or something for what it is that I do, or how I do it rather, something to reflect my trading methodologies...but to no avail... I use Fiboncci principals/concepts a lot, so I thought maybe, Fibonacci Retracement Every Day, or Fibonacci Retracement Easy Daily. I've ended up deciding on just calling my system-no-system F.R.E.D (for more reasons than one ). As it really reflects who I am, and it is me pulling the trigger after all.
So, apply any acronym you like. Even F**king Ridiculous Electronic Device when MSFT:NYSE gets the better of you, as it does.
This is very much just a thinking out loud journo, so if you are new to the industry, I'm sorry, but I doubt you will learn much here.
There are much b(obokus)etter teachers on (james16 P)ForexFactory than I'll ever be(mac), so seek(ing light) them out for yourself. Their work is what kept me even keeled, and turned the dail(list) on my profi(ji)t from negative to positive.
And the fact that it is just that, a thinking out loud journal, feel free to return the trouncing I may have done in your threads, in here.
K then. That's it for now, as the market's closed. Will kick off again as soon as I'm trading.
Firstly and foremostly, sorry BWR for the name, I hope you didn't copyright the first one . It's one of my favourite threads on FF, so I drew inspiration...
Right, I'm not going to give you the War 'n Peace intro, but I'll try a brief overview.
I've been trading for quite some time, about 13 years give or take a few.
This is my 5th live year trading the forex.
I don't know what kind of trader I am. The whole day-, swing-, position- thing urks me a bit, but that's for another day.
All I do know is how I trade, so for all intensive purposes of having a cool label too, I'll say I'm a Retracement Trader.
I don't trade every day, but sure wish I could, and am getting closer to being able to. I'm benefiting more and more from OPL nevermind OPM, so that day is drawing ever near. Which is another reason for this. I find myself with enough time to actually keep two journals, although, I doubt this will be a patch on my off-line one...maybe some day.
I love trading. So my "outlook" may seem short most of the time, but it really isn't. The reason I mention this is because, IMO, if you trade long(er)-term positions, you are stepping into the realms of being an "investor", not a "trader", again, debate for another day.
Another reason is because, whether I'm right or not, the only way I seem to have been profitable in the first place, and been able to stay profitable is not due to large account size, large positions or anything like that. It has been due to sheer volume of trades (and MM goes without saying obviously). I'm not getting into the whole "the spread will kill you eventually" argument over that statement either.
I am in a position where I have a properly capitalised account to "daytrade" if I want to, so I do.
I don't have any real system. I trade totally discretionary. That does not mean I don't have a plan, which is more of a plan of action btw, than hard 'n fast rules. A bit of Red/Amber/Green analysis on things. (nothing wrong with a bit or RAG-analysis in life)
I have pieced together from what I've learned. So if you see any of your "work" in here, apologies for the obvious plagiarism, but hey, maybe you shouldn't have made your stuff so good in the first place
I have however been trying to come up with some quirky name or something for what it is that I do, or how I do it rather, something to reflect my trading methodologies...but to no avail... I use Fiboncci principals/concepts a lot, so I thought maybe, Fibonacci Retracement Every Day, or Fibonacci Retracement Easy Daily. I've ended up deciding on just calling my system-no-system F.R.E.D (for more reasons than one ). As it really reflects who I am, and it is me pulling the trigger after all.
So, apply any acronym you like. Even F**king Ridiculous Electronic Device when MSFT:NYSE gets the better of you, as it does.
This is very much just a thinking out loud journo, so if you are new to the industry, I'm sorry, but I doubt you will learn much here.
There are much b(obokus)etter teachers on (james16 P)ForexFactory than I'll ever be(mac), so seek(ing light) them out for yourself. Their work is what kept me even keeled, and turned the dail(list) on my profi(ji)t from negative to positive.
And the fact that it is just that, a thinking out loud journal, feel free to return the trouncing I may have done in your threads, in here.
K then. That's it for now, as the market's closed. Will kick off again as soon as I'm trading.
Carpe Divitiae