What Every New & Or Aspiring Forex Trader... Still Wants To Know

Beginner Questions
3093

[B]How do you feel about your current level of Forex understanding? [/B]

  • Coming from a mentality where i wanted some one to lead me in every single trade, give me signals, watch indicators etc. Going from that to pure price action not even using a stochastic, I feel I am a lot better off now. It was an easy transition but I am still fearful when I enter trades, and I do not know how to deal with this psycologically.

[B]Have you found any of your poor habits removed or controlled now? [/B]
I do not risk more than 2% per trade, yes that was a poor habit. I also lead myself into trades now with my own bias, no more signals for me. I still listen to others analysis but at the end of the day I make the decision, and I pull the trigger. Iā€™m happy that I am becoming a more independent trader, but I am not there yet. My risk management is now flawless for risk controle, but my profit taking is flawed. Just like I said earlier I become fearful, I do not trust my analysis, I see the money not the pips and I take it out premature in many cases. I am still getting profit but it is less, usually a 1:1 RR and I fear this is going to kill me later when I actually start losing trades. In the past 2 weeks I have lost 2 trades, 1 was mitigated shortly after to a BE on it. I know I will not continue to have this streak and losses will come. I am afraid that when they do the RR on my trades will ultimately suffer on my account. Again, I donā€™t know why, but I am honestly afraid. Not afraid of losing money, just afraid of losing trades. Its not so much about the money as it is about getting it right, and winning. I am afraid I will not win, not that I will lose though. Just that I will not win. I hope that makes sense.

[B]What constructive habits have you adopted since joining us here? [/B]
I learned a completely different way of trading purely off of price action. I have also learned strong risk management skills. I learned how to determine market flow and the importance of top to bottom analysis. I have learned that this is the only way to be consistant, no one and no indicator will guide you, you must guide yourself.

[B]Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?[/B]
I am not greedy, but I am fearful. I suppose they go hand in hand. I am fearful that my position will be a loser, therefor I am greedy with taking profits too soon at a 1:1RR or 1.1, 1.2 most cases. I am afraid of a lot, I am afraid of being afraid. I am afraid of being afraid while trading the market. Fear follows me into every trade, and gets worse every week. I am more afraid this week than I was last week, and I do not know what to do. I am reading trading psychology books and they do not help. I believe it stems down to not fully trusting myself, not trusting the fibs or levels. It has also been a hell of a friggin week trading in this mess, that has me stressed out and in fear constantly.

I am constantly followed by fear that my analysis is wrong, but I am not paralyzed by it. I continue to make trades, and I continue to make good decisions. I may pull out of the trades too soon, but I am not running into trades. Fact is, I watch a lot of good trades pass me by, I draw my fibs in the morning and tell myself ā€œI told you soā€. But then I look at my account, and I still have my 30 pips, I still have that 2% that last night, and yea I left the 100 pips on the table, but I have my 2%. I donā€™t feel I am over trading, I have not over traded in the past day or two actually. I have been sitting and being patient, I havenā€™t seen anything good enough to jump with. But then I think about that and worry I am paralyzed by analysis and fear.

I am extremely afraid of the london open. It scares me half to death. Many nights I will be here drawing fibs one way another way this and that high watching price screaming up and down. It frightens me that I could pick the wrong entry, the wrong MF for the day, maybe price will just go 30 pips above my entry and stop me out and then go my way? What if my entry is too conservative and it stops 5 pips short and then shoot 120 pips, God knows that has happened more than onceā€¦

Sorry for turning this post into what it has ITCā€¦ I suppose I just discovered my worst habit, overwhelming fear or losing and being wrong in every aspect possible in my tradingā€¦

A lot of good has been learned, one bad nugget to conquer,

Z

3094

[U][B]How do you feel about your current level of Forex understanding? [/B][/U]
ā€”I now can understand how the market has moved in the particular direction and what/how smart money seeks in the market such as tricking dumb money for maximizing their profit. I guess I now have good sense to distinguish difference between real breakout and fakeout. Also, I can see how smart money is supporting specific level/zone towards the specific direction by utilizing fibonacci, pivot, open price, weekly open, market session tendency, and volume (although you didnā€™t talk about volume, I just like VSA concept as well :D) But definitely I got much improvement to see reversal point and real retracement level.

[U][B]Have you found any of your poor habits removed or controlled now?[/B][/U]
ā€”My take profit level got more accurate rather than being too greedy to get more pips rather than increasing winning probability. Also, since I got more precise entry point than before by using your ā€œoptimal trading entryā€ level on fibonacci and its collaboration with pivot and market sessionsā€™ habit (i.e. asian session tends [B]not[/B] to make new high/low, so I can put good entry on the pivot line or recent high/low), I now got appropriate space for stop-loss line to breathe the price action enough to avoid fake move with less pips to risk! Isnā€™t is wonderful?

[U][B]What constructive habits have you adopted since joining us here?[/B][/U]
ā€”Swing entry, a.k.a not entering at the first reversal movement; rather, I can enter with optimal trading entry line on fibonacci with more probability. Also, I now really put my attentions on market session since every specific time zone has each tendencies (i.e. after London open, NY open may lead the reversal movement against how the price has been moved by London sessions).

[U][B]Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?[/B][/U]
ā€”My leverage is same. I donā€™t think leverage would be a big concern for me [B]as long as I properly manage my risk[/B]. Although I have much confidence than before because I now can see how market makers are intending to do against ā€œus,ā€ I still have dilemma in which I got so anxious because entries becomes more precise and feel like something terrible will happen in the future somehowā€¦ And since how I used to trade was ā€œbuy when I see good bullish candleā€ and vice versa, but how I trade right now is ā€œ[B]buy when I see bearish candle[/B]ā€ and that scares me honestly!! But, of course, since Iā€™ve analyzed the market from sentiment, fundamental, and technical perspective carefully prior to the trading, I go for it anyway. But stillā€¦ get me fear or anxiety in that way.

[B][U]At last[/U][/B]
I really learn much and obtain great knowledge to understand the market condition and how market makers are attempting to trick us, and then, now I can see them next to their shoulder, not they are watching my back from dark shadow. Thank you for your lessons!

3095

Hi ICT

This is my first post in this thread. I have been reading this thread for few days and i have read over hundred pages now. I have watched half of the videos also.

I want to thank you for your generosity and the hard work you put into this thread.

Thank you very much

tradertalent

3096

How do you feel about your current level of Forex understanding?
Current understanding has massively improved thanks to your thread, still need to thrash out the ā€œsmart money & divergence conceptsā€

Have you found any of your poor habits removed or controlled now?

Yes I have, but yesterday showed me I have still a fair way to go.
Need to tighten my stop losses a bit & take a more methodical approach to my analysis & practice practice practice!

What constructive habits have you adopted since joining us here?

Definitely dealt to the over trading bug!
If anything Iā€™m under trading in general, leaving valid setups on the table which I need to sort out.

Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?

Yep The greed :32: factor is way down, my leverage is 1:20, actually much the same story as Zneve, my problem is fear & exiting trades too early, seen them sitting there but not taking them, then getting frustrated & taking some nonsense position!:31:
Probably a case of not enough confidence in what I see & not enough screen timeā€¦

We have a considerable base group here and I would like to see what your ā€œthinkingā€ is at this stage.

This morning my mind is a bit of a shambles, after yesterdays whipping lol! The embarrassing part been seen your twitter comment just before I got stopped out! Sheesh! :8:
In general I feel very optimistic, with what you have given me, it normally takes me quite a while to ā€œget it togetherā€ but I know once Iā€™m there Iā€™ll be away!

How has your psyche has been changed by the concepts shared here thus farā€¦This is of great interest to me as a mentor.

Well apart from the babypips school I spent the first year in the ā€œforex desertā€ following threads to miragesā€¦ did learn a little but itā€™s great to find a solid foundation which youā€™ve provided. Awesome!

I think Iā€™m in this state where I havenā€™t fully grasped the implications of what you have presented here, I mean the fact that It could change my whole life if I took it as seriously as a degree qualification, still a little bit surreal!

So Iā€™m thinking hard about quitting my current job & taking a lower paid job which will free up time to study & trade. Sounds a bit crazy, Iā€™ll consider it for another year or soā€¦

I would actually benefit best if I was studying this full time in a classroom environment with no other distractions!

Please indulge me and share what steps you have taken and what progress have you seen in your personal development?

Still got a way to go, but getting there, aware that I need more structured time management to my learning, this is a problem as my lifestyle has me running all over the place & personal discipline / time management / structure sufferā€¦

VERY grateful for your time Michael, hope this helps & is not too discouraging :slight_smile:

3097

Just reading this made me afraidā€¦ I would suggest reducing your account size.Trade a smaller account. Even though you say you are not worried about loosing moneyā€¦ it plays a factor. You have a fear of not succeeding.This is natural, no one wants to be a failure. So cut the account and give yourself 6 months or so for example of trading this small account. At the end of the 6 months look at your resultsā€¦ When you see the positive % return in your account your self-belief will go through the roof and youā€™ll have full faith in your methods. I think the answer to your question lies in time and through the repeated process of trading. Michael said way back at the start of the year in one of his earlier videos ā€œYou have 80% of what you need already, everything here onwards is an added bonusā€. Try finding that other 20%ā€¦self-belief

3098

[B]How do you feel about your current level of Forex understanding?[/B]

For being in the game for only a few months, I feel great. Forex was something I was able to learn very quickly, which surprised me. Iā€™ve also had the chance to learn many different angles of trading. ICTā€™s is not the one Iā€™m most comfortable with, but it is the one that Iā€™ve found to be the most successful and with the most favorable risk/reward, so Iā€™ll be sticking with it exclusively.

[B]What constructive habits have you adopted since joining us here?[/B]

Just about every habit Iā€™ve adopted has come from here and two other boards. I learned from the school here, so Iā€™d say the majority of habits have come from babypips.

[B]Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?
[/B]

Nope. This was one advantage I had going into this. Iā€™ve been a successful sportsbettor, poker player, and a marginally successful penny stock trader up until now. Iā€™ve had the money management locked down, and the fear demolished for years. If I see something that works and works often, once I get it figured out myself, Iā€™ll put some real money into it. My confidence in my money management skills allows me to place a slightly higher % than most into my trades, for better or for worse.

[B]We have a considerable base group here and I would like to see what your ā€œthinkingā€ is at this stage.[/B]

Presently frustration, but very excited for the future. You donā€™t like us putting up our losses here, so I donā€™t, but for the sake of answering the question, I had gotten into two situations this week where I had an OTE and the London open, and in the proper zone. Got stopped out of both, and the very next OTE that presented itself in both cases ended up being the big move. Started second-guessing myself from there, and missed out on more big moves this week. Stepping back and looking at the big picture, I need to trust what Iā€™ve learned and make the plays when I see them. As I type, thereā€™s an OTE short developing on the Fiber, but itā€™s a 60+ pip SL if I do, so Iā€™ll wait for the next train. I also need to create a regimen to where Iā€™m not away from my charts while these opportunities are happening, which Iā€™ve been guilty of this week too. Downloading Breaking Bad on iTunes was a bad idea after all. :slight_smile:

[B]How has your psyche has been changed by the concepts shared here thus farā€¦This is of great interest to me as a mentor.
[/B]

Itā€™s improved. I was a big indicator-head up until now, and though I had some success with it, I was that guy in your picture with the espresso bag connected to his veins. The whole reason I want to trade forex is to get to that point in life when I do NOT have to work for a living anymore, so my old way was very counterproductive in that regard. The only time I use any indicators now is for daily bias on the Fiber and the Eur/Gbp, where Iā€™ve had very good consistency with the ones I use.

[B]Please indulge me and share what steps you have taken and what progress have you seen in your personal development?
[/B]

I guess the biggest so far has been the way I approach sleep. On west coast time, I can monitor the LO and the LC and still get the right amount of sleep necessary to perform everything else I do (I work at night). The consistent profit hasnā€™t come just yet because Iā€™ve just started trading this new way, but it will, and then the real personal development starts to take shape!

It will be quite interesting to see where we all will be a year from now. Iā€™ll extend my thanks as well, and just hope we keep the ball rolling into something great for all those who have the fortitude to stick with it and continue to get better and better.

3099

How do you feel about current level of Forex understanding?

Considering that I new nothing of Forex or trading before the 1st of February this year,you have taught me a vast amount in a short space of time,if total knowledge is 100%,I might have(and I say this as humbly as possible)60%,what I do with it is another story(doh!).

Have you found any of your poor habits removed or controlled?

As I stated above I only have experience of Forex "ICT stylie"so I dont have the "usual"bad habits,eg overleverage,overtrading,indicatoritis,etc.Idid start trading with a tendancy to not place all my position from the outset(being nervous I suppose)and then when it started to move in my favour add to it and see it change direction at which point I would close the trade at a small loss and then see it continue in the right direction and get back in etc!!Not any more!!!

What constructive habits have you adopted since joining here?

I am learning to spot the trades that the tools dictate rather than the oneā€™s that I want to make work cos I want to trade Today!
I now understand how to let the first 30 pips pay for my time in the market(making it risk free)so I can leave the trade running and improve my R/R(and relax a bit!).

Has greed or fear been a stumbling block or barrier or have those been overcome by reducing leverage?

Greed and fear!!When I place a trade with all the tools in agreement,they are at a very low level,when I place a trade where the tools are a bit out (but Iā€™m going to trade anyway!?)they are magnified and rightly so because those trades donā€™t run smoothly(yesterday for example(I was in there with you Green!!)every bad candle caused fear and every good one greed).My leverage is 10 to 1 and was 3 to 1 so no prob there,Iā€™m risking max Ā£30 per trading day and am comfortable with that.I fear greatly losing any gains I have made to the account as they are still not easy to come by.

How has your psyche been changed by the concepts here?

As I have no prior trading experience in that respect it only grows.In respect to life in general,The opportunity you have given(by selflessly sharing your time and energy and 17 years experience)has radically changed my psyche,I feel elation and optamism about the future and a way of getting my wife out of a job thats killing her and living without financial worry!

Please indulge me and share what steps you have taken and progress you have seen in your personal development?

From knowing nothing and looking at charts and thinking this is just pure chaos!!!Iā€™ve learnt to BEGIN to see the structure and order that exists,sometimes laughing when something pops out on the chart,other times with a shiver running down my spine and expecting the phone to ring(Matrix style!!!)Every week or two I know more,much more and see the future brighter,much brighter for my family and those around me.Every video I see (old or new) I see something else and feel more confident(not ****y confident)but hopefully a bit wiser.THank you Michael

3100

Hmmm, I have been trading for a year already and still feel ā€œnewā€ and ā€œfreshā€. Probably ten demo accounts, and two live (one blown :-))ā€¦
I am being more and more tempted to try some automated system, but this is another dangerous topic I presume?

3101

(Haha, I got 100 pips of that lightning, plus 20 pips right now for the London Closeā€¦ :stuck_out_tongue:

Read more: 301 Moved Permanently)

Hey Clark,

How are you catching those tradesā€¦??? Iā€™m impressedā€¦ Iā€™m struggling with being consistent. Biggest weakness I think, is expecting to trade every dayā€¦ but damn Clark! you seem to be flying alongā€¦

Cheers.

ps: anyone else notice that pennant formation on the daily USDXā€¦?? which she going to blow?? Any big picture analysis on that, anyone?

3102

Some time ago I saw Michael discussing the annual cycle of GBP/USD prices, in a video, I think. Iā€™d like to refer to that again now, but I have no idea where it is. Can anyone kindly point me in the right direction?

3103

[B]How do you feel about your current level of Forex understanding?[/B]
Before I found the thread six months ago I had spent about eight months reading books, forums and demo trading. I had a basic understanding of foreign exchange but where actual trading was concerned I didnā€™t know what I was doing, or rather nothing seemed to work out. I honestly learnt more, real world, useful information in one weekend when I found the thread than I had taught myself in the first eight monthsā€¦

Fast forward to present day and well, what a difference. Not so much in my profit and loss but in my approach to trading. I am not saying I have mastered all the concepts, far from it, but I know I am well on my way to being profitable and have a far better understanding of what is going on and perhaps more importantly, why. I seem to struggle more with getting stopped out, rather than money management and trade psychology.

[B]Have you found any of your poor habits removed or controlled now? [/B]
Yes. I no longer trade a 50k demo account, I only demo with amounts equal to live account equity. I no longer over trade, I under trade if anything.
[B]
What constructive habits have you adopted since joining us here?[/B]
Keeping a detailed trading log. Using a checklist before every trade. Having a simple trading plan to keep me out of trouble.

[B]Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?[/B]
Greed hasnā€™t really been a problem for me because I have not yet seen so many gains that I feel the need for more more more.
Fear? Hmmm not really. The thing that frustrates me the most is I only get to trade NYO and quite often I wont trade due to news coming out. If that happens say twice a week that leaves me three days and maybe two of those I wonā€™t trade due to inconsistent technicals. Then suddenly the weeks gone and it can feel like I am making no progress at all.
My leverage is currently down to 10:1 though :slight_smile:
[B]
We have a considerable base group here and I would like to see what your ā€œthinkingā€ is at this stage.[/B]
Iā€™m really happy with the way things are going. Although I am not consistently profitable I am breaking even and thatā€™s a great place to be after only a year of trading. I donā€™t have all the techniques down yet but I donā€™t feel rushed to do so. I know all the information I need for my education is in the thread, I just feel I need more time to absorb whatā€™s been presented. I am really looking forward to September :slight_smile:
[B]
How has your psyche has been changed by the concepts shared here thus farā€¦This is of great interest to me as a mentor. [/B]
I spent a long time wondering whether or not trading forex was a viable business. I kept telling myself that thousands of people do make a living trading so it must be possible but there is little proof to back it up. Now I have seen the concepts working for me real time I am a believer and I owe it to your hard work Michael. I am a firm believer that if you devote enough time to any pursuit in life you will get there eventually. Keep on keeping onā€¦
[B]
Please indulge me and share what steps you have taken and what progress have you seen in your personal development?[/B]
Well personally I dropped everything else I had going on in my trading bubble and I focus exclusively on this thread and these techniques. I saw a titanic shift in my understanding, not just the concepts but also market structure, how the markets move, when and why. I think the two biggest things I have taken from this extraordinary experience so far are first, the firm belief that it is actually possible and second, I have submitted to time and no longer feel panicked in my study.

I am very grateful to have been given this opportunity. Thus far itā€™s been quite a humbling experience. Long may it continue :57:

3104

[U][B]How do you feel about your current level of Forex understanding? [/B][/U]
I feel that my current understanding is week. Iā€™m having trouble pinpointing where my actual problem is. When the concepts are laid out, I understand the concepts, but I still have a lot of trouble truly applying them. Iā€™ve had winning trades (no monsters) but never a winning week. Lately Iā€™m still having trouble just consistently demo trading. Between working and handling small crises as a result of moving only a few months ago and transferring colleges Iā€™ve had a hard time consistently trading 5 days a week. This is the first week in a month that Iā€™ve even attempted to trade 5 days. Right after a market move I tend to see my mistake in my analysis, but I have a low probability of getting the analysis right the first time.

I made a thread probably about a month ago when I was in a period of a lack of trading for fear of being wrong, especially in the summer chop. Little did I know just how much worse it would get! Still, my whole point is that while I understand the individual concepts Iā€™m still having a hard time putting everything together. On reflecting on this week what I need is a routine, a checklist of actions to take in a certain order.
Iā€™ve gotten as far as marking areas of support/resistance, and noting market flow on daily/4hr/1hr/15min charts, then after that drawing fibs from previous day(s) highs/lows to current highs/lows, as well as more recent swings.

[U][B]Have you found any of your poor habits removed or controlled now?[/B][/U]
Until today I hadnā€™t overtraded/chased the market in the time since I started watching your videos. Itā€™s mostly under control.

[U][B]What constructive habits have you adopted since joining us here?[/B][/U]
Iā€™ve gained a far greater ability to check support and resistance while avoiding a pile of indicators. My best habit gained, however, has been proper money management, as that was driven home from the very beginning.

[U][B]Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?[/B][/U]
Fear and greed have both played their own role. Itā€™s more like my greed creates my fear. Despite only trading with a demo account I still donā€™t like being wrong, though that feeling is much abated when Iā€™m in profit for the week.

3105

Hey ICT followers,
I wanted to post my week end trading review. I try to evaluate my performance every week and make decisions on what to work on on the weekend and moving forward. I think it is a big part of trading to constantly analyse your actions so that we can grow as traders. I am not happy with how I did this week, but I have pinpointed one of the problems. Fixing one problem at a time is going to bring me closer to my goal, one pip at a time. I hope you guys enjoy this read and possibly could give you the motivation to start a journal if you have not already: 08/7/11-08/13/11 Week End Review - +7.1% On The Week | MeetPips.com

My trading journal is my biggest asset, I think every trader should have one, and meetpips.com is perfect. It allows you to blog and connect with other traders. I am not trying to sell it here, but it does work for me and my journaling needs.

3106

This week is my best week so far in whole trading of 1.5 years.
I thought of opening a position over the weekend then thought cut my greed manā€¦ your aim is only 100$ so keep greed minimum and I am gladā€¦ I stopped.

Looking for next weekend :)ā€¦love AUD always momentum either way .

Thanks guysā€¦ will catch later next week. Looking for ICT webinar.
Please tweet more often :slight_smile:

Thanks
Coolkaps

3108

Hey Zneve,

Here were the trades you wanted me to post. First one is the LO, and second one the LC.

This week was a good week, had one losing trade where it hit my SL, but I re-entered on a 3:1 trade in the same direction shortly after and made back for it and more. +17.6% this week. :stuck_out_tongue:

Regards,
Clark

3109

How do you feel about your current level of Forex understanding?

Pretty good, I know a lot more now thatā€™s for sure.

Have you found any of your poor habits removed or controlled now?

No more overtrading and I stick to my weekly targets.

What constructive habits have you adopted since joining us here?

Not overtrading and sticking to my weekly targets lol. Also, taking better trade setups and being more patient.

Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?

Never dealt with much greed or fear and never had to change my leverage.

We have a considerable base group here and I would like to see what your ā€œthinkingā€ is at this stage. How has your psyche has been changed by the concepts shared here thus farā€¦This is of great interest to me as a mentor.

Well, Iā€™ve learned that I only need at most 3 trades a week. Typically 1 or 2 to achieve my weekly goal. I know I donā€™t need to trade every day, and I know there will always be more opportunities. If I donā€™t have a good idea of what should happen, I simply wont trade.

Please indulge me and share what steps you have taken and what progress have you seen in your personal development?

Iā€™ve set basic goals for me, both weekly and monthly such as pip gains and % gains. I started small and have built up to reasonable goals now. Iā€™ve forced myself to become more patient and wait for the best set ups. Now Iā€™m making a tad over 5% a week, reaching for my weekly goal of 6%. Most weeks I make it, some I donā€™t. Iā€™m happy with 5% a week though but I wouldnā€™t turn my nose up to more lol. Iā€™m winning many more trades now because Iā€™m only taking the better setups. Most trades go +30 rather quickly becoming risk free trades at that point and Iā€™ve also been getting better at determining when a trade has gone bad and getting out well before my 30 pip stop. This is nice because it makes the losers even easier to cover.

3110

Hey Auto,

Long time no talk. To be honest, I am probably THE WORST at determining the bias during LO sessions. Itā€™s at the point where, I could do my analysis, and just trade the opposite direction. :stuck_out_tongue: I think I have to go back and review those parts again. And I hear yeah about the overtrading. Starting next week, I plan on taking 1-2 LO trades max, and 1-2 LC trades max. Hellogoodbye4201 has been helping me with the overtrading as well, and has finally convinced me as well to start scaling out, something that I never do. Weā€™ll see how that goes though.

Still going for 3.75:1 RRR every week, risking a maximum of 2% per trade. Just trying to be consistent as well, but I do get downs as well :stuck_out_tongue: Iā€™m hoping I can perhaps make a ā€œlivingā€ out of this soon. Maybe sometime beginning 2012?

Regards,
Clark

3111

Brilliant trading Clark, absolutely brilliant. Thank you for the post!

3112

[B]How do you feel about your current level of Forex understanding?[/B]
To be honest, I feel my Forex understanding has grown at an incredible rate. Iā€™m more confident in my analysis, and taking my trades knowing that I have a clear edge. I feel I have a much better understanding of how the forex market moves and behaves.

[B]Have you found any of your poor habits removed or controlled now?[/B]

Concentration and staying focused was one of the harder problems I had to overcome, but it definitely has gotten better. :slight_smile:

Another problem Iā€™m facing is overtrading and looking for trades everyday, Iā€™m currently trying to control myself in this area as well.

[B]What constructive habits have you adopted since joining us here?[/B]

I have learned alot here from Michael and my peers. Sharing trades and looking at other tradersā€™ trades and analysis has allowed me to open up and think about other scenarios that I may not have thought of myself. It has allowed me to speed up my learning curve both technically and psychologically.

[B]Has greed and or fear been a barrier or stumbling block for youā€¦ Or even better, have these been overcome by reducing your trade leverage?[/B]

Greed and fear was never really a barrier, I know when to leave a losing trade and I have controlled the fear I had of trading through experience.

[B]We have a considerable base group here and I would like to see what your ā€œthinkingā€ is at this stage.[/B]

Iā€™m surprised that this thread has grown to big over the last few months. I remember first stumbling onto this thread a few days of its release feeling like a newcomer, now I feel itā€™s a large community where everybody can learn and contribute together.

[B] How has your psyche has been changed by the concepts shared here thus farā€¦This is of great interest to me as a mentor.[/B]

I have learned a great deal of judgement, patience, confidence and knowledge. I feel with more screen time it is possible to pursue Forex as a full time careerā€¦ I can feel it! :smiley:

[B]Please indulge me and share what steps you have taken and what progress have you seen in your personal development?[/B]

Iā€™m currently still practising, and trading as much as I can so I can get as much experience as possible. I think I have conquered many challenges new trader is faced with, both technically, mentally, emotionally and psychologically. I feel I have a few more habits I should take care of soon, but I am well underway in becoming a successful trader. I have full confidence right now, while controlling my ego, something I would have never been able to do a year ago.

Thanks Michael for everything, if anything is going to make my first million itā€™s what I have gained from this thread and your videos! Looking forward to that Hawaii trip! :stuck_out_tongue:

Best regards,
Clark

3113

Zā€™man

Listen, one of the surest ways to overcome fear is to meet it headonā€¦ and let it all hang out. We as men like to have it all together, and letā€™s face itā€¦ itā€™s in our nature! We are like Pea****sā€¦ when we have it all going rightā€¦ we strut around like we canā€™t have a flawā€¦ all of our feathers spread and we are the best thing going today. Sadly, this is one of our biggest weaknessesā€¦ and one of the hardest to conquerā€¦ but it can be.

I have tried to encourage others to become active in their trading in this thread and to post ā€œtheirā€ trading views in moves they would or are participating inā€¦ win, lose or draw. It has proven too much for folks to just step out there and be in the spotlightā€¦ and wellā€¦ do it!

It is scarey when you are being watchedā€¦ and wondering what others might be thinking of your ideas and viewsā€¦ and brother what if you are W.R.O.N.G., how embarrassing would that beā€¦ right?

This is precisely how you defeat itā€¦ if you can fall on your face in the witness of many thousands of us watching daily and rise up from the ashesā€¦ you will eventually take flight like that Pheonix you want to beā€¦ blazinā€™ skywards and leaving the dead old you in the past. Growth is only achieved through painful pruining of bad habits, stinking thinking, ego, fear of being wrong, worrying about missing movesā€¦ I promise youā€¦ if you step out here and just let it all goā€¦ you will grow as a Trader leaps and bounds. It takes gutsā€¦ and a death of selfpride, to identify the desires and destiny that you wish to achieve are obtainable if you slay the demons of personal image and ego.

You may have a screen name and a Avatar and post on these forums, but when you make a mistake or blow itā€¦ this ā€œcan feelā€ like you were center stage at the most important event of your lifeā€¦ and ask yourself this question. If you did step out here and put it in action and failed for a few weeks or months and or struggled to get consistencyā€¦ what did it really cost you? We wonā€™t see you when you are with your friends and family and bring up that Fiber short that went higher and stopped you outā€¦ we wonā€™t be there to bring up the Cable trade that you missed and paid another trader 200 pipsā€¦ and you sulk in grief over missing it.

However, we will be here to encourage you and high five you when you nail it and develop into the awesome Pro Trader we all know you can arrive at! Hereā€™s to a new you and a braver you at thatā€¦

[B]GLGT [/B]:57: