I have been really working hard on my trading via backtesting and backtesting and backtesting and just trying to come to grips with it all.
It's no wonder that some ridiculous amount of new traders end up quitting after awhile - something like in 97-99% range. However, I'm either too stubborn or just too stupid to give up, so here I am.
I can sincerely tell you that I have gone through a STUPID AMOUNT OF CASH trying to figure this out. I would cry if I could, but I have no more tears left, instead my tears have been replaced by bulls-eye targets on the market makers ready to start making profits.
At this point in time, I can tell you that I have honed my skills and that I'm currently in the front-testing portion of my trading. I've already done all the backtesting that I need and I'm currently paper trading. Once I get 3 profitable consecutive months, then it's going to be game on.
Until that point, I want to give you some guidance from what I've learned:
1. never ever ever ever ever go against the trend
2. you MUST know where the major buyers and sellers are - i.e. the most recent SIGNIFICANT highs and lows.
3. you want to align yourself with whichever major buyer/seller is in control. The only way to know who is in control is via the trend - which direction are the significant highs and lows going.
4. you MUST know where to get in and out BEFORE entering a trade
5. and
you MUST know HOW TO CORRECT A TRADE.
Trading is an ART. Of course it IS based on objectivity (i.e. definitive price, etc.), but after you have that objective base work, then the rest is your INTERPRETATION.
THERE IS NO HOLY GRAIL OF TRADING.
THERE IS NO "ONE SIZE FITS ALL" SYSTEM OF TRADING.
If someone honestly DOES have the Holy Grail of trading then they would be selling it for multi-millions of dollars, otherwise it would not be worth it to sell this info. Don't get suckered into any sort of stupid schemes like this.
The only Holy Grail of trading is YOU. YOU are the only person that can make or break your trading. Get all the info you can, get all the advice you can, but you must take all this stuff and mold it to your personality in order for it to work for you.
No 2 traders are exactly the same, and therefore no 2 traders will trade exactly the same.
That's it for now, you are probably now worse off than before you read this entry. Sorry, it's just the way it is right now. But the light at the end of the tunnel is ahead, we just must be patient and let time, and practice, let us know when the time is right to re-enter the market.
Best wishes.
