I want to add my own experience of all that.
I met trading because i studied financial markets in Europe, and worked a little in portofolio management in a bank. But pure trading is what i already wanted to do.
So i discovered FOREX by a friend, with metatrader 4, and started learning alone, with books, forums, and practicing. I met someone that was interested too in trading, and studied financial markets too, and we set a trading office, but reality showed us that trading is not for everyone. we used to analyze markets together, and take trading decisions, but it was like, if i say don't take this trade, and he was sure of his feelings, he takes the trade anyway. We ended up loosing our capital and much more, because greed, fear, and lack of knowledge was part of our minds. I was thinking that the fact that i have a diploma(master) in financial markets studies gives me an edge to be a trader. so i rudly learned that trading is a mix of knowledge, psychology, and good tools of trading.
I started learning again, reading, seeking the edge, the holy grail. i bought many indicators, downloaded many free Experts advisors(Trading bots), bought softwares to build strategies, etc etc. All that failed. The thing that got me mad sometimes is when i see successful forex traders. I asked myself, how can i succed like them? The other problem is that i didn't succed to get a job because my master diploma is almost considered like alien stuff where i live. SO, no job and no success in what you studied very hard. How can you live?
Seeking for the holy grail, i started to use less indicators in my trading, learning to trade price action, and that was the beginning of my successful carrer. i started to understand how price works, flows,reacts and how i can profit from that. But price action needs to be traded in big timeframes, as daily timeframes, and i'm young and in my mind, i want all now, and early. So i started to discipline my mind, be more quiet, be less greedy, no overtrading again, and choosing only A+ setups.
That was the beginning, and i found some edges when i moved to another trading software, that really suits my mind as a trader. i found that tools are your friend, because i was able to have in front of me, all i want quickly, and in the best way. So i leaved metatrader, and its lack of transparency,tools, and orders types. I worked a long time to understand the tools, and to understand the market, and most of all, to peace my mind when i'm trading. I demo traded, very successfuly with my new trading strategy and i think mistakes i made in the past can't affect me today in a large scale. After all that i was seeking for a descent starting capital, because this is also important. many of the mistakes i made was because my starting balance was too low, hundreds of dollars. if you have a good starting capital when you go live, you can let your profits run, you can take losses easily because it doesn't affect your balance too much, ad you can easily accept you are wrong on a trade, and go to another one. And most of all, you can trade with good lots, and if your money management is good, and that you make at least 51% of winning trades, you are successful. With my strategy, i can make at least 80% of successful trades, on 15mn,30mn,1H timeframes, and more that 90% on 4h and daily timeframes.
Now I got a descent starting capital, and should start live trading again next monday, and i wish myself the best of luck. I builded up a complete trading desk with 4main screens,one laptop and a tablet, funded my account, developped a big trading strategy that allows me to get in the market very confident, because i use 2 great indicators, price action, news forecast, an audio squawk etc...
I'm more confident now, and think success is on its way.
So Allow me to give advice to anyone that wants to be a home trader:
-Be sure to have the good tools(software, feeds, real time information)
-Be sure to be enough confident and enough successful demo trading before going live.
-Always seek for better stuff, to get yourself up in knowledge.
-Discipline yourself, and take the home trading seriously; it's a real job!
I'll let you know how it works for me in live.
Good luck everyone
I met trading because i studied financial markets in Europe, and worked a little in portofolio management in a bank. But pure trading is what i already wanted to do.
So i discovered FOREX by a friend, with metatrader 4, and started learning alone, with books, forums, and practicing. I met someone that was interested too in trading, and studied financial markets too, and we set a trading office, but reality showed us that trading is not for everyone. we used to analyze markets together, and take trading decisions, but it was like, if i say don't take this trade, and he was sure of his feelings, he takes the trade anyway. We ended up loosing our capital and much more, because greed, fear, and lack of knowledge was part of our minds. I was thinking that the fact that i have a diploma(master) in financial markets studies gives me an edge to be a trader. so i rudly learned that trading is a mix of knowledge, psychology, and good tools of trading.
I started learning again, reading, seeking the edge, the holy grail. i bought many indicators, downloaded many free Experts advisors(Trading bots), bought softwares to build strategies, etc etc. All that failed. The thing that got me mad sometimes is when i see successful forex traders. I asked myself, how can i succed like them? The other problem is that i didn't succed to get a job because my master diploma is almost considered like alien stuff where i live. SO, no job and no success in what you studied very hard. How can you live?
Seeking for the holy grail, i started to use less indicators in my trading, learning to trade price action, and that was the beginning of my successful carrer. i started to understand how price works, flows,reacts and how i can profit from that. But price action needs to be traded in big timeframes, as daily timeframes, and i'm young and in my mind, i want all now, and early. So i started to discipline my mind, be more quiet, be less greedy, no overtrading again, and choosing only A+ setups.
That was the beginning, and i found some edges when i moved to another trading software, that really suits my mind as a trader. i found that tools are your friend, because i was able to have in front of me, all i want quickly, and in the best way. So i leaved metatrader, and its lack of transparency,tools, and orders types. I worked a long time to understand the tools, and to understand the market, and most of all, to peace my mind when i'm trading. I demo traded, very successfuly with my new trading strategy and i think mistakes i made in the past can't affect me today in a large scale. After all that i was seeking for a descent starting capital, because this is also important. many of the mistakes i made was because my starting balance was too low, hundreds of dollars. if you have a good starting capital when you go live, you can let your profits run, you can take losses easily because it doesn't affect your balance too much, ad you can easily accept you are wrong on a trade, and go to another one. And most of all, you can trade with good lots, and if your money management is good, and that you make at least 51% of winning trades, you are successful. With my strategy, i can make at least 80% of successful trades, on 15mn,30mn,1H timeframes, and more that 90% on 4h and daily timeframes.
Now I got a descent starting capital, and should start live trading again next monday, and i wish myself the best of luck. I builded up a complete trading desk with 4main screens,one laptop and a tablet, funded my account, developped a big trading strategy that allows me to get in the market very confident, because i use 2 great indicators, price action, news forecast, an audio squawk etc...
I'm more confident now, and think success is on its way.
So Allow me to give advice to anyone that wants to be a home trader:
-Be sure to have the good tools(software, feeds, real time information)
-Be sure to be enough confident and enough successful demo trading before going live.
-Always seek for better stuff, to get yourself up in knowledge.
-Discipline yourself, and take the home trading seriously; it's a real job!
I'll let you know how it works for me in live.
Good luck everyone
