Due to much crapology being dished out on certain threads over the last few days (yes I have been guilty too) I thought a brief explanation of my world might put a few blocks in their right holes. I’ll try to be reasonably brief cause I don’t wanna bore folk too much.
Now that I have stated I have doubled an account in under 2 weeks I have suddenly been branded a self praising egotistical SOB ---
funnily enuff, im none of those things ---- Am I glad about the results I posted --- u bet yr sweet marmalade I am ---- but I’ll tell u why ---
Firstly, I posted the results not to big note myself as people have perceived --- I posted them in response to I/Focus comment that picking tops and bottoms and trying to trade them is a’poor’ way to trade (in his opinion, and paraphrased by me) ---- my results tell ME that this is not true, cause that is all I do when I trade –try and pick short term tops and bottoms --- certainly not everyones cup of tea (I just happen to like ‘instant’ tea) ---- I also posted the results in the E/W thread which was in hindsight not a great idea -----
I have no problem with folk utilizing E/W --- for me on short term FX charts, it just doesn’t seem to fit ---- I do find the ‘passion’ some people display when anyone (that would be me) questions the validity of E/W pretty odd (maybe even disturbing ) but that is another debate in itself ---
I actually asked what i thought were several genuine questions with regard to E/W on different threads. Apart from Oz who did make an attempt (thank u Oz), I was pretty much flamed and told I was speaking crap. Maybe I was maybe I wasn’t --- im actually a very humble person, but if someone wants to dish me up a crap sandwich, then im gona complain to the manager !! ---
How big is my Ego -----
Haha ---- (that word went out of my dictionary many years ago) ---
let me tell ya a story ------
A few years ago when I started trading ---- I turned over well over a million dollars in my first six months for the princely Net return of $26,000 ----- didn’t Comsec luv me !!
2 years later I had to sell a house (fortunately not the one I was living in) to pay off the debt I had created by over leveraging and getting burned on sky diving spec stocks ---- kinda funny eh!!
Enter the Learning phase --------
I stopped trading for a coupla years and went into ‘education’ mode ------ Smart move --- id recommend that !! ---
I estimate ive now probably done 2,500 hours of screen time mainly on FX, but more importantly --- Ive been religiously on a Sim for 5-6 (sometimes 10) hours a day for several months ---- achieving pretty much an 80% strike rate for a while now ----
TH points out the importance of practice ------ smart man that TH !!
Do I think im a good trader?? ---- haha ----
Lets imagine this is the equivalent of Alcoholics Anonymous ----
(As I stand up and state) ------- I still consider myself to be a Sh#t trader --------- doubling one small account means nothing ----- I’d love to stand up in a couple of years and state that im still doubling accounts after a squillion trades --------- unfortunately that is unlikely --- not because of my trading (it has improved beyond belief ) --- more the problem I'll have standing up !! --- lol ----
There are a lot of good traders on this forum ---- Nick (who ive been at logger heads with for the last week) is a good trader ---- no question about that --- just a bit of a personality clash there ---- (ill be surprised if he reads this far though lol -- )
Frank D ------ a picture paints a thousand words ---
So the point of this great babble that I have just bored everyone with is what ??? ---- How the hell should I know ------ Im just babbling ----------
Maybe if it helps someone to actually take the time to “Learn” to trade “Before” they lose their house ----------- then the post will have been worthwhile ----
Thank you linesmen thank you ball boys ----