Thanks amdudus for another thought-provoking article.amdudus wrote: ↑Mon May 21, 2018 7:35 amWhat to do?
For each trader, the questions raised above are very important, especially if he has chosen trading as a profession. But the fact that there is no answer to them can cause a feeling of incompleteness and psychological discomfort, which can negatively affect trading. Imagine that a trader who came to the market to earn money does not know for sure whether someone in this market has earned it before him, and is it possible to earn at all? At the same time he has been trading for some time and all to no avail. Where in this situation to find strength and motivation to continue? First of all, it is worth determining, than for you is trading: a profession, a game of chance, or a hobby?
• If a profession, are you ready to give it as much time as any other profession requires?
I can see where you are coming from and I appreciate that. Can't agree more to the point that if someone wants to look at forex trading as a profession then should immerse himself into that as any other profession. period. More than that, stop suspecting the overall game.
Another thing that I learned over the time is, there is nothing called right or wrong because we are trying to predict the unpredictable. So, no matter what indicator, oscillator you use, it is all subjective. someone works on a 1m chart and others on 1w chart.. it is truly based on the psychology of the trader. to my style, I prefer lower time frame rather than the higher time frame. why, psychological aspects attached to time
also feel that the most important aspect of forex trading is the money management. this I feel is the core of the business unless someone master this aspect he can never be able to sustain. for example, at a lower time frame if one is taking 10 trades per day then with an exposure of 0.5% per trade then sure it can bring success over the period. (do the cumulative math)... again provided only if he can stick to his game plan.
well, the bottom line.. there is only and only one way to learn swimming .. jump into the water.