I’m just like everyone else here, Im not an expert at this and I alwase strive to get myself better at trading and try my best to learn by my mistakes. The hard thing with the market I find is that it constantly changes, something looks fantastic for days or weeks or hourly or by the minute then it stops working altogether and we go searching for the next best trading method. Its a constant battle of minds all looking for something concreet to make a lot of cash with. everyone looking for the holy grail thats going to work in every market condition, its not easy. Hardest thing I have ever attempted and i’m a long way away from perfection. The challenge is amazing though and It keeps me coming back with new ideas to tackle it with. I no longer trade currencies I only trade 1 market and thats the US30 Wall St cash. Its probably the hardest market out there to trade but there is a lot of oppertunity to get fast big moves all day long, its a big shark infested pond with not so nice creatures all trying to get there hands on your money, not a place I should be in at all but I cant stand slow moving markets. Fast paced creates fast trades over and over all day long, Not uncomon for 800 points 1 direction followed by 800 back again. Got to be quick sometimes or set limit orders to guarentee a position. If you like rollercoaster rides wall st is probably for you, if you like horror films its also probably for you, If you like more relaxed trading settle for currencies.
I recently took my money out of CMC markets and opened an account with IG Index to get access to prorealtime charting but I’m restricted to some options that prorealtime hasn’t got so I opened another account for Tradestation and they have loads of stuf but still not what I wanted so money back in CMC again to trade with them. Looking at reviews of these firms now through trustpilot there customer service is went to pot and people struggling to get there money out etc I know there are alwase going to be people with complaints reguardles but its the same complaints over and over from diffrent people, makes you think twice about trusting in them.
I had no issues transfering money to and from CMC so I’ll stick to what I know for myself is the safer option.
I also started playing with indicators instead of just a clean chart with only price, I didn’t even used to put lines on them I just traded what i saw (how the price moved) and that is what i based my trades on, It did work for me but after some time away from trading I lost my touch. Hence the indicator route and this is what I’m playing with in my spare time. I’m thinking of using them to allow me to hold trades longer. The amount of times I came out of trades early just to watch price continue in that direction is rediculious.
Another thing I have changed in my trading is that if I’m not ‘switched on’ (something doesn’t feel right) when i sit down to trade then its best to switch it off and come back another day because your brain is telling you, its an early warning signal to avoid it today. Same with a trade, if it doesn’t feel right sit back, if you miss a trade because of it your account stays the same you haven’t lost a dime and there will be plenty of oppertunities when you do feel right.
Something to do with instincts I assume but Its usually correct.
Anyway, back to playing with my charts and reviewing some of fridays trades!
Take care
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