Not sure where to start today. This is the first time ever in my forex career that i had 3 consecutive profitable week. I’m sure I’m on my way to finish this month on high. Suddenly i have this feelings i have got everything to become a pro forex trader. Feeling amazingly positive lately . All these time i thought i was technically sound on my chart but i think i was wrong. My price action analysis was wrong the entire time. I actually never understood the movement of price. The power of currency strongness and weakness. Now I’m getting it slowly but surely. The power of post analysis .…
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Right frame of mind
Past couple of weeks in February has been good with me. I have ended rare positive weeks in a row. I believe that is because of my new approach to the market which is much more calculative than i have ever traded before. lets talk about it… Key to right frame of mind i have taken the strategy of being calm cool and collected. Big move in the market does not affect me much as it did in the past. I’m learning to stick to my plan and execute it. Before i would just take random trades really quick in line with the market move. Even though i’m still following…
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10 honest review of my day trading forex in 2018
I know it’s a bit late for last years review but just wanted to share my experience. First thing first, i managed to lose a lot of pips last year. There were times when i was mentally drained and suffocated. There were minutes when i thought for a fraction of time, is forex trading for real ? Does people really make living out of it ? Is the whole forex thing just a hoax? I had all these confusions and doubts. But then when i reviewed my entire year of 2018, i realized as a new trader, it was not all that big loses. I gained ton of experience which…
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Review of my Profitable trading week (working just 2 days)
This week enjoyed a profitable trading. Made a lot of tweak recently in my psychology and approach. How did i have a profitable trading? I will explain you exactly that. Read on … Started this week on Monday with fear in mind. Not sure why i was little bit scared to take trades. However, i was determined to follow my process rather than the outcome and i did exactly that. On Monday I was down -28 pips at one time but came out of hole with +28 pips. Big drop on stock market this week, especially DOW jones. So i was expecting a large move on forex market but that…
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Forex day trading journey : welcome back
Welcome back to my forex journal. Yes i still haven’t stopped trading. Still in the market and fighting 4 days a week to survive in this world of uncertainty. I did not lose hope yet, i feel i’m very close to success in this tough business that i have chosen to pursue. Forex day trading for a living, is still very much in my mind. Now i see light at the end of the tunnel as it has been almost 3 years that i have been trading on my live account. Albeit a small account, but i’m learning heaps of knowledge. The journey has been very difficult thus far, lot…
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Ended positive three weeks in a row in Forex
What a last three weeks in forex market ! Really has been amazing so far. I never had consecutive winning in a row like this. I’m now looking into potential of ending this month with some profit in the bank. It’s been a while since i had a positive month. Now here is the thing, in the past once i had a winning week i would think THATS IT , i nailed it. I’m a pro forex trader now. I would start dreaming about my future. I would check out the new BMW or Benz on web etc. But the next thing i know the market would crush me the…
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I’m still here…
It’s been a while since i last blogged. Yes I’m still a forex trader but things have not moved the way i planned. Got smashed back and forth over the last few months but i guess these are all part of learning curve. Not sure how long this “learning” time will remain. So it’s been 3 years since I’m trying to become a professional forex trader. I eventually thought i would be successful in less than 2 years but that has not been the case. I’m still struggling in the market and haven’t found my winning formula yet. Good things I’m still stuck to my strategy which i believe is…
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The problem is in my mind : psychology
I cannot stress enough how important it is to have positive psychology when it comes to training. Mindset is everything. I figured i’m lacking in this department. My strategy is a winner. My risk management is top notch. I’m not over trading then what is the problem? why i’m not consistently profiting yet ? After reading the book “trading in the zone”, i have found many answers. While reading the book i thought as if it was my story. Now i’m working on fixing my mindset problems. Simple action as walking out if it is not syncing on particular days were so hard for me. For example, if i’m approaching…
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Scared money never wins
If you cannot afford to lose the money you are investing, i can guarantee that you will never success in Forex. Scared money never wins. You will be always thinking about money. If you are planning to invest with your retired money or your daddy’s money, take my advice and come out NOW. As i have mentioned in my previous post, i have been working a lot with psychology. I have finally come to realize, my problem is in mindset. Nowhere else. I have a winning strategy. Execution of my plan is almost perfect. Everything looks ok on paper but why I’m still not consistently profiting ? Only reason that…
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Registered a losing week both financial and psychological
Pretty disappointing start to the month. I have had a losing week once again. Granted the market is very slow but I have done some severe mistakes. I do have a cutoff period of -50 pips and i should slow down when i hover around that mark. But this time i was on a rush for some reason so i kept on placing trades only to lose. July 5th , 2017 was really sad day for me. I lost a mammoth 100 pips. I didn’t follow my own criteria. I was taking trades on believe not what i was seeing in the market. One important lesson that i really need…