From newbie to Pro trader

Hey guys, hope you’re doing great.
I’ve completed the school of pipsology and have been trading demo for 3 months already.
On the side i have my trading log and journal which i am updating every single trading day.
My question is how, or more precisely, what steps should you take in order to become a professional trader? if any of you has any resources, websites, good books etc, that would be much appreciated.
I also wanted to ask you:

  • what trading strategies do you use?
  • do you need a different strategy for trading commodities and currencies or can you use the same one?
  • what stocks, commodities, currency pairs do you trade?

Also what do you think about online courses like fibsdontlie course and Falcon trading?

Forex is not about the money, its about becoming the best person you can be. Love the game & process, the results will follow.

I wish you all a happy weekend and good luck my friends!!

1 Like

Hi khris30
keep this in mind alwaiys , and yes the good results come alone
I whish you the best !!

The fact of the matter is you can trade using one or a combination of thousands of strategies. It is all about figuring out what the buyers and the sellers are doing, or will likely do in a zone in the future and placing orders stoplosses and targets appropriately.
Your record keeping system needs to be sufficient to give you meaningful metrics such as average RvR and winrate. Some feedback on the combination of tools used can be useful because as you accumulate data the software will give you a green or red light on the likelihood of a trade working out based on your previous performance, note this will require a minimum of 1000 trades of that particular combination to be meaningful, but still a worthwhile thing to know about. At the end of the day if you record something and your performance is measurable - then you can improve on it.
I have a very specific set of tools I use to trade which are not lagging and are time proven. And more importantly are proven to work for me over the last 30 years so im pretty confident they will continue for the next 30 years.
I like you said ‘trading is about becoming the best person you can be’ I believe that to my core. Trading will present you with opportunities to know your emotional state and to be forced to manage it properly or you will be extinguished. It is a hard truth and that’s why most cant make it. If you can find a group of traders who believe in your ideas then that will greatly assist you to not only keep on track with your development, but will also offer you ideas which will stretch you a bit and continue your learning. There is no time in your trading career you can say you have sussed it and be done. You do get to a stage where you know you can make money. But that doesn’t mean you rest on your laurels, you recognise there is still advancements and learnings to be had, and that’s a wonderful exciting journey. For sure there aren’t any of those major AHA moments you had in the beginning but more fine tuning what you already know.
It takes most 3 or 4 years to be consistently profitable and to have ironed out some bad habits or negative emotional behaviours. But once you get there its great. Just keep doing it, at whatever level you are comfortable with.
For me I use s/r pockets, Andrews forks and ACR levels. That’s it. Oh vwap on the lower timeframes for scalping trades… I actually have very few rules. The only ones I have is to do with bank management and trade RvR.
Hope this helps.
Look forward to your posts here.

John

Hey John, thanks a lot for your comment buddy!
it was straight up informative.
Could you please help me in building a good trading journal, do you use excel for this or something else?
If its ok with you, could you please talk about your bank management rules as well?
Thank you John and wish you luck in your trading
I’ll keep you informed about my progress!

Chris

I use edgewonk.