I see a a lot of posts about “how you should do this or do that while trading” and I always wonder if its the football manager syndrome where they say they know how to do the sports professional job yet work on a building site, which leads to the question does your main source of income come from trading ?
I may have a business that pays, but this is my wife’s wage as I earn the bulk of our income from the screens each day that allows us to live in a nice area and have a good life. Took me 3 years of study and mistakes to be consistent and another year to build a cash pot strong enough to take losses and draw a income.
In the early days I did what most do look for the quick money on a 5 min chart only to find it was a nightmare and only made real money based on the 4hr and 1hr for direction and main bias for the day.
Be interested in chatting with anyone who has given up the day job whilst at the screens each day
well, it’s not necessary to be at the screen each day all depends on your style, setup, capital etc etc. Can you imagine, f.e. Soros sitting at the comp all day long and every day? or Zuckerberg browsing FB pages non-stop… You started with 5 mins charts and now on the 4H and with profit - imagine you trade on the W or MN charts and using mostly FA: life is beautiful
i’m interested with forex approximately 5 yeras… always lookng for new techniques and reading so many forums but at the and, idecided that, forex is not for me… i’m not good at this as i understand… i’ve never blowed up any demo account and i treid once for real acoount and didn’t blow it up but i didn’t earned money neither… Actually i’m not one of these guys who are chasing for one million dollar in a week… My target is to earn stable, small monies which will cover my expences about hobbies or little things like a gift to my wife or sons but i didn’t get succes of this… So i give up even i realy realy enjoy wathcing charts for hours and try to understand whats going on the market… just one single candle pattern is exciting me, how many different stories, how many different scenerios in side that little candle i think… but as i said before, i’m not for the forex, my thoughts are not suitable for this as i ses…
It is manager syndrom because we think we know the solution.
But when you see what is written you can see it is not far from the truth. Many advices are correct but rarely can strictly follow them. Even the author of that post sometimes cannot follow his own advice.
We love to share advice, a solution to a problem and that is ok - IMHO.
Even better would be that all traders incorporate those suggestions in the trading. But we know that is not easy and different people have different opinion.
Without managers we would not have forum to discuss. We would not have new ideas.
I know that some ideas for the trading strategy were from these managers opinions.
And I am thankful for that.
We should support these ideas while they are friendly and constructive