Hi Everybody,
Though I am new to forum I have started this thread because I have seen many threads both on this forum and others with questions about if it's actually possible to make money trading Forex.
So I thought it might be nice to have a thread where someone who does trade for a living, stocks thoughts, trading plans etc..
Hopefully this thread will eventually offer encouragement for those that are new to the sport and seek a little reassurance.
I wanted to put this thread at the Interactive Trading forum as it's probably more appropriate to but apparently I do not have the rights, so if some of the admins can move this across it would be much appreciated.
So a bit about myself... I am a complete time trader, I exchange day in day out to earn a living. I do not claim to own a crystal ball so I am wrong a fantastic amount of the time, however I am right enough to remain internet profitable.
I do not trade one special system; I exchange based on what the market is doing in that specific time. So when the market is trending I will have some medium in order to gain from the longer-term trend.
By the exact same token I will also day trade in and out of those markets to keep the scoreboard ticking.
I exchange both Technicals and Fundamentals because I think they are both equally as significant, and understand that I trade better once I take into account. Having said that, I take my entrances and exits purely from the Technicals.
The 1 thing that will remain constant however is that I'll trade in the direction of the MOMENTUM, I will never, ever stand in front of a train or try to ch a falling knife. Some people can do this; I cannot, as logically it doesn't make sense to me.
I believe that is an important thing, this thread is not about one system, as there are many that can make money, it's more about the mindset you want to have to become successful.
As traders we will need to understand that we cannot understand what the next move is going to be, we can only use the information available to us to put us in a situation where we can REACT into the price once the time is right.
What I will try to do in this thread will be provide my plan for your day in the mornings (when I have time), and then update it during the trading day when and as I have some advice I think will be of assistance to your community.
I hope this thread over time rewards the community here in forum and welcome anyone who would like to engage.
Best
AFX