Hello everyone, my name is Andrée and I am excited to be part of this community! I started trading about a month ago and have been actively learning the first ropes. I am retired from the military and looking forward to be successful in forex trading.
Keep calm, cool and collected when trading FX. Use your military mindset.
Thanks for responding. Yes, mindset… I listen to very interesting podcasts about psychology. My way of being calm is, I take the time to analyse the situation, make a decision to trade and when I press the button to trade, I do not look at anything for 2 hours. I go do something else, I walk my dog, exercise or do errands. I try to completely detach myself from the outcome. I try to follow my little system and take statistics. So far, I am 42% right
Does that mean you are 58% wrong?
Yes, so far, after 26 trades. I am just beginning
So, now is the time to ascertain what happened to those trades, particularly the losing ones. Did you make mistakes? What worked and what didn’t?
It’s also a good habit to keep a journal of your everyday trades.
Thank you Steve, Yes, I have a journal that says the % risk, lot, ratio, why I entered the trade and the indicators, and finally the outcome. I also have an emotion journal that says how I feel during the trades. I think now it is a matter of doing it for a while, consistantly.
At what point are we considered profitable ? After achieving 2%-3% per month ?
Last year I had eight consecutive profitable months, just breaking more or less even, which is continued this year. I wouldn’t say that is anything to write home about, but for me I am comfortable that my strategy process is moving in the right direction.
Welcome to the community, Andree. Are you trading live or just demo?
Hello zianfx, I am trading demo on a 120k cad account (FTMO free trial)