I have been "trading" for over 10 years. I have lost more money than I have made in my career, although I haven't thrown all that much money at it - mainly because I have been too irresponsible to save for an account that would be worth my time. I am hypnotized by the allure of an independent, at-home income and the riches that linger just a few clicks away. My obsession, which has been stewing for a decade, has engendered thousands of hours, days and nights, devoted to studying and researching the markets and method development; and while I might be a self-saboteur when it comes to money, I still believe that, through my studies and determination, I have actually made considerable progress in understanding how the markets behave. Most of my time has been committed to discovering a mechanical system that dissolves the necessity for discretion - and while I haven't discovered the treasure I seek, I sincerely (and humbly) believe I have unearthed a few gems along the way. I know I have actually - I just didn't know how to use them. It is only as of late, galvanized by a change in circumstances and fortuitous life events, that I have realized that my lack of success is attributable to the misguided attempt to rely on strictly mechanical signals rather than relying on my personal experience, intellect, practice and know-how, which is all informed by the fruits of my research.
I have shared what I know about the markets with friends or family members a few times in the past - pulled up the charts and described to them what is happening as I see it and I explained very effectively what is unfolding - but alas the paradox of the invariable retort: "Well, why aren't you making any money?" To answer, I'll impart an anecdote: I recall an evening I was commenting on the GBP/USD chart to a friend of mine. I was explaining the different thresholds it was approaching, and, almost instinctively, and almost without noticing it, I concluded my observations with, "Anyway, it's more than likely going down." There was a short pause, and my friend, who was across the room, stopped what he was doing and said, "Well, then why don't you sell?" It's strange how such simple logic has eluded me for so long . . . So I did and won the trade.
This thread is my attempt to recreate that environment . . . to describe the market as I see it, identify thresholds, to further develop my knowledge and ultimately to further develop my intuition - all to inform my discretionary trading. I want to learn to recognize the characteristic emotions of being correct.
I almost exclusively watch the pound/dollar, but other major pairs are just a click away. If along the way, you find my insight is valuable and want me to look at a specific market, stock, etc, join the conversation. Let's see how long I can keep this up.
TL;DR - I've tried to rely only on a mechanical approach in the past. I've been afraid to rely on my own discretion, but it seems talking about the markets "out loud" helps me, and could possibly help you too. I am searching for the moments when I can draw an unambiguous conclusion.
I have shared what I know about the markets with friends or family members a few times in the past - pulled up the charts and described to them what is happening as I see it and I explained very effectively what is unfolding - but alas the paradox of the invariable retort: "Well, why aren't you making any money?" To answer, I'll impart an anecdote: I recall an evening I was commenting on the GBP/USD chart to a friend of mine. I was explaining the different thresholds it was approaching, and, almost instinctively, and almost without noticing it, I concluded my observations with, "Anyway, it's more than likely going down." There was a short pause, and my friend, who was across the room, stopped what he was doing and said, "Well, then why don't you sell?" It's strange how such simple logic has eluded me for so long . . . So I did and won the trade.
This thread is my attempt to recreate that environment . . . to describe the market as I see it, identify thresholds, to further develop my knowledge and ultimately to further develop my intuition - all to inform my discretionary trading. I want to learn to recognize the characteristic emotions of being correct.
I almost exclusively watch the pound/dollar, but other major pairs are just a click away. If along the way, you find my insight is valuable and want me to look at a specific market, stock, etc, join the conversation. Let's see how long I can keep this up.
TL;DR - I've tried to rely only on a mechanical approach in the past. I've been afraid to rely on my own discretion, but it seems talking about the markets "out loud" helps me, and could possibly help you too. I am searching for the moments when I can draw an unambiguous conclusion.
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