Cyco, if I may use this thread as a quick journal entry into my development as swing/position trader I’m going to do that right now.
After two and a half years trading I am starting to realize why I didn’t follow through with position trading when I tried it for the first time about 2 years ago - greed. It was too slow for my liking and I “needed money fast” back then. The irony of this is that since that time I have lost much, much more than I ever care to say because of that one crippling emotion - greed.
I have since matured as a trader and have found my strut, so to speak, with swing trading. It gives slightly faster feedback and if nothing else, it allows me to trade more often so I don’t get that feeling of missing out. I am very aware that it is actually detrimental to my trading to feel that way, but at least I have found a way to work together with my weakness.
With this maturity and less of a rush, I am finally feeling ready, calm and collected for position trading again. I am opening up a small account and if nobody objects, I’ll post my results here as the months progress.
I will be trading with small risk, one position per pair and no greed involved at all. If I can do this for 3 - 6 months, I’ll at least have conclusive proof for myself if I will continue with this or not.
I am extremely familiar with everything Smith teaches and I will be trading with a mix of Conqueror and Channel Breakouts, using the ADX filter for entries and Bishop for exits. It’s very similar to what medisoft is doing.
Support is always appreciated, thanks all.