I haven’t said much about my trading lately as 1) I was busy getting my new house installed 2) I was also testing new things, including indicators ( trin, ADX, MACD, RSI, tick, put call ratio, etc). It takes me some time to get around to use them and I am still not very good at using them all at the same time. BUt I made progress and so far it has kept me out of some trades that could have really hurt me. I have also learned to be patient and there is no jumping out of trades at all anymore. I don’t trade on impulse and I have become quite good at finding good entry points. One thing that is interesting is that by getting better, I have discovered that I am not being greedy but realistic- and that was a great turning point.
In my case I discovered that if I remained focus on the future I would make things easier for me. So I try to take each day as another experience. I don’t stay in trades overnight, in order to have some sleep. By knowing where I am, I feel alright. I went to a course on Forex that was quite complex but it was a fist step and I did learned a lot. Now I have to piece it all together, but I am still stubborn and I can do this.
I have also come to realized that even very expert traders make mistakes or trade on impulse. It seems to be an ongoing battle – and it is very personal. We all have different ways to deal with it, although most of the time what I see is denial. Someone who keeps stretching a point endlessly means that he/ she has issues with it most of the time. It is understandable. I do exactly the same, I am afraid.
I have also discovered that lots of traders have their likes ands dislikes when it comes to other traders and other techniques. It is difficult to find one that suits you, but when you do, you stick to it. In my case my turning point was a book by John Carter, called ” Mastering the trade”. He gives a few of his strategies in it and he explains how certain things work. The book is definitely not for the absolute beginner and it took me quite some time to work it. But what was more important is that I liked Carter’s style and tried to emulate it. And it worked for me. I spoke to my old mentor about it and basically he made fun of me. He doesn’t like Carter, saw him once at a seminar and thought the way he puts his stoplosses was silly. He did add though that a friend of his went to trade with Carter and Senters ( his colleague) and came back being a good trader. I could understand it. Carter comes accross as the type of guy who tells you from the beginning that you don’t have something for nothing. He gives you the taste of effort but he also loves trading and it shows. I respect this. It changes from all the bozos who tell you that they – and only they- have the right way to trade. When he doesn’t know, CArter has at least the honesty top say so.
Of course I was labelled a fan. Maybe. But it doesn’t mean that I take every word as being holy. It is just that through Carter’s book I found a direction and I found it. I am looking forward to meet the man one day.

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