Mr. Fox,
As a very experienced options trader, I have made the decision to transition to Forex. It seems simpler and less stressful, as time decay is not an added variable to the equation. Thus, I have lots to learn as far as Forex goes. But so far, I have done well in my practice account, using my option trading methods. Like you, I am also a KISS trader.
I have been reading your posts and following your daily profits. This proof gives me confidence that I can make the change and be profitable. As a full timer, I have never aspired to make ridiculous sums of money - just earn a decent income so I can remain free of corporate drudgery. I am super anxious for your upcoming thread on your method/strategy, as that will provide insight and an excellent point at which to develop my own style.
I hope I can also be a resource to those on this forum, as much as people like yourself have already been to me.
BTW, I'm a short plane ride from Vegas and it's one of my top party destinations. I'll stay tuned to that thread as your plans develop.
All the best!
Scott
Good Morning Scott,
It may sound like a cliché, but with hard work, most things can be accomplished, and I pray your transition to forex is most fruitful for you.
As for it being simpler, well from my point of view it was hard for me at the start, as I had no direction, or guidance.
What most people don't see, is the times I spent cursing, even on my knees crying, the chest pains with anxiety, the vomiting after a crap trade, the many hours spent learning, and not to sound overly negative, there were a few times I won big, and was higher than high.
Yet it all came down to perseverance, and tenacity to "try" and master the markets. I still feel I have a lot to learn, and the markets are quick to exploit my mistakes.
If I can help others to avoid the above with a concise thread, then why not. the markets have been good to me, so giving a little back, is no problem.
I know I am a very flawed individual, flaws I promise myself I will correct when I'm wrong, and flaws I dismiss with utter arrogance when I'm right.
Just last night I was feeling quite anxious, scared in case something bad happens, the thought was quickly dismissed, yet even the trade this Am was full of apprehension, but most emotions are controlled from entering peaks on both sides.
As for Demo accounts, they are only good to practice a strategy/back test, and nothing more. Once you have it mastered, jump in live right away, with smaller stakes, and as your confidence grows, then increase size.
I am glad this thread motivates you, but I am sure there are more profitable, and less flawed traders that grace this forum that you could learn even more from, and I will add a little more info for you in the next post.
If you can make Vegas when I'm there it will be good to meet you. there's nothing I like better than to talk trading, whether with a professional or novice.
Best
John
