Well, that's it for this blog. This is the last entry. When I first started this blog, I did it to "help me to become a better trader". And, it has.
If you've followed this blog, you will have seen my ups and downs. You've noticed my trading style has changed and that I've gotten better over the couple of years that this blog was active.
There are MANY ways to trade profitably, and INFINITELY more ways to trade unprofitably. If you are looking to learn more about trading and becoming a successful trader, then keep looking for information, keep putting in vast amounts of time studying trading.
My advice to you is simple:
1. Ask GOD to give you the wisdom needed to be a profitable and successful trader. Remember what the bible says: you can do ALL things through Christ who strengthens you. I attribute my success to GOD. I firmly believe that He showed me the ways to trade - specifically the high/low system. If you do nothing else to learn how to trade, do this step.
2. Find a trading style that is a good "fit" for you. Some people must have very fast paced trading - like day trading, in and out of a trade in sometimes as little as just a few minutes. Some people are very long time - like finding undervalued stocks and buying them until you retire. And of course, there's everything in between. There is NO right or wrong style, it's whatever fits your personality.
3. Once you find a trading style that is a good fit for you, then BACKTEST, BACKTEST, BACKTEST, BACKTEST....
Backtesting gives you EXPERIENCE, without losing real money. Backtest until you are consistently profitable.
4. Once you have backtested, then PAPER TRADE. There is no time limit on this. Simply paper trade until you are consistently profitable.
5. Finally, once you have done all these steps - THEN it's time to get into live trading.
I give you the above advice because I've done SOME of it. The parts I didn't do - ended up costing me dearly.
If you take time and go through this blog - especially the stuff from the past year, then you will be able to figure out the majority of how I trade. It doesn't guarantee your success, but it does give you at least a couple of ways that you can trade in order to possibly profit.
Best wishes in all you do - keep praying - keep believing - and eventually you will become the trader you want to be. Claim it!
