It’s a pretty interesting story. I like that many people here share stories about themselves, both good and bad. Sometimes it’s better to read about someone and learn from their mistakes than to learn from your own. Thank you for your honesty and openness, these are good qualities of both a person and a trader.
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I wish I could explain what I do as well as You. I Trade The Direction of the Weekly/Day Chart on the H1 and H4 Chart using the 14/7 moving average and the 50
When you get time check out my trades for July and let me know what you think Most are actually Trending Daily/Weekly and Monthly
TabiusLee
My Proof Profit Strategy
Thank you so much for your speech. I have learnt a couple of things. I hope to be able to build my life around Trading like yours also, so that I can have enough time for my family and other things I am passionate about. Thank you Sir
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Thank you! I hope that you manage to stay methodical and have the trading future you hope for. There will be reversals and bad days but stick with it and don’t get greedy would be my advice!
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That’s kind of you to say, thank you. Yes, this site can be great for people opening up and being honest about all aspects of their trading experience. When it is working well, that can make us all better.
Hi, Sorry to be slow getting back. I confess I haven’t gone through all of the trades in detail, but I have followed your link and had a quick look at your thread. My instinctive thought is that you seem to have a fair few trades open at one time, more than I would want to go for, and also obviously you are trading in Demo. Demo has its place, absolutely, but it does offer only a partial trading experience, as there is no real psychological side. If I have a £10k account, and want to risk 1% of that, then that’s £100 of my own cash on the line. If I then open up a couple more trades, that’s more money. So there’s immediately a potential loss. That can cause issues with pulling the trigger to enter the trade, but also can cause some issues with trade management - for instance letting a trade run when it is winning, or wanting to take the money when it seems to have stalled. On demo, it’s very easy to be brave, but in live trading that is arguably the hardest aspect.
So my headline answer is that I like the underlying ethos behind the trades - look for a trending Pair and then capitalise on that while the going is good - but personally I wouldn’t want that many trades open at once, and I always take a trading record backed up by demo with a pinch of salt. On demo, I’m incredible. And very brave!!
But credit to you for putting your ideas out there, and I like a lot of what you have to say. Thank you for looking in.
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Thank you, that’s very kind of you, you’re absolutely welcome! I am delighted that you have found it interesting, that you have even learned something from it, that is great to hear. We will all have our own experience, our own route to trading, but as long as it all makes sense to us then it can work out well. I always think that with trading it is important to have a deliberate reason for doing whatever you are doing. If you ever look at an open trade and think ‘I’m not confident about what’s going to happen next’, or even worse ‘why did I open this trade?!’ then I’d urge anyone to close the trade out, take a hit, and move on. I just tried to be methodical and mechanical with my entire approach to trading, and just take what the market was prepared to give me. When it works, it really does work beautifully around the other things in life, such as family. Good luck to you and yours, particularly in these challenging times.
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Hi @SimonTemplar, thanks for your posts.
If I may ask please, how do you determine your S&R levels? Thanks.
This is golden!
Quite insightful! I am sure that a lot of traders would have loved the information.
It was definitely an eye-opener in terms of strategies and trading style. In the end, it’s all about what you understand and wrap your strategies around. Not important that you need to go by the book (something I’ve been doing so far). To reach his level of trading, it’ll take me years and I’ll keep trying and practicing till then.
I agree to what Simon says. Watching price movements with the use of charts might be a better option for beginners instead of using indicators.
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Dear Simon,
I am really happy the info you have delivered,I am Joel from Uganda,very new in forex trading, can you be sort of a mentor to me,let’s you give me the access to consult you in forex related matter as I continue to learn?