I'm New To T2W - Where Do I Start?

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Good morning everyone, I am a Spanish trader with extensive experience in forex and futures. I know that in this area everyone believes that in forex it is not possible to make money because of the liquidity of the market and the type of institutional adversary that attracts that liquidity, but I have managed to be profitable with my systems and not only that, but I have gone optimizing them manually (I don't know how to do machine learning) and improving their results.

Thanks to trading I gradually increased my capital over the years and even created my own tourism company as a diversification, although I had no experience and my partner betrayed me.

Another mistake was that although at the beginning I had assigned a cautious% to that investment, I did not take into account the expenses that occur in the middle of the project and finally ended up investing practically all my trading capital in it.

In Spain the bureaucracy is excessive and things work very slowly (a Spanish saying says: things in the palace go slowly) and after two years, I am still waiting to regain control of my business. This in Switzerland or Germany would have been solved in a week.

Due to all this and after having lived in a privileged area of Madrid with a nice car, a wonderful woman and without worries, I lost everything and had to go back to my mother's house.

My parents lent me 5000 euros to clean up my trading accounts and I decided to go to Albania to isolate myself and focus exclusively on trading. Unfortunately I chose cryptocurrencies without carrying out a previous analysis and attracted by their volatility, thinking that I could earn a lot of money, and being still affected by that drop in my life.

With no experience in this market, I made a lot of money in a short time and started doing nonsense, such as leaving very leveraged positions open with a margin call at 50% of the price of the currencies, thinking that in the bull market of that time it was practically impossible that I fell so much, or averaging down my losses .. Anyway, in April the great trap occurred and as we all know, with the IPO of Coinbase, the planets lined up to burst the bubble and the rich became richer.

I have everything documented, since I keep a diary, and the error has been basically that I have rushed without having experience in such a volatile and particular market.


Anyway, that is one of the examples of the importance of psychology in trading. Stay impartial in the losses, but as I have written here, also when you are on a hot streak and you think you can walk on water.

However I have no problem with that, I understand errors as variables that simply need readjustment, and I am in the process of reading books that help me with this aspect such as "trade like a casino", where it emphasizes the fact of forgetting the result , or even just skim through the NLP in monthly and not daily reports.

Regarding my trading system, I consider myself a trend trader. It's what makes the most sense to me; Identify a medium-term trend (weeks) and hold the position, entering with a stop loss as small as possible to get a good R: R.

I would like to be able to demonstrate my skills and my experience in an investment firm that wants to bet on me, and also join a group of serious traders with whom to improve all together.
 

lmaranhao

Newbie
1 0
Hi everyone, I'm a Brazilian Al Brooks price action trader looking for a mentor to help me find a niche that would be a better fit to my self and life style. I've spent almost 2 years day trading the Brazilian stock exchace futures but spending the day looking at the screen is not something I want to be doing for the rest of my life.

Thanks and I hope I can help some in the process as well.
 

Stuart Cubech

Newbie
2 1
Hi
I am a private investor - I trade a variety of instruments as and when I feel appropriate, but most of my experience is with shares and stockmarkets. I've tried Forex but don't get involved with this anymore - couldn't get to grips with it or make consistent profits.
I traded for many years on a full time basis and got by, but found it really hard and stressful and the rewards not worth the effort, plus I really probably did not have an adequate level of capital.
I'm happy to do my own thing and don't really get into deep conversations about strategies etc... but do like to read about / listen to other people's views, and you never know I may be able to add something useful to the conversations.
 

Programmer1

Newbie
3 0
Hey, new here. From r/CanaryWharfBets on Reddit. Looking to learn more about trading and discuss it with the community 😉.
 

tomorton

Legendary member
8,378 1,335
Good morning everyone, I am a Spanish trader with extensive experience in forex and futures. I know that in this area everyone believes that in forex it is not possible to make money because of the liquidity of the market and the type of institutional adversary that attracts that liquidity, but I have managed to be profitable with my systems and not only that, but I have gone optimizing them manually (I don't know how to do machine learning) and improving their results.

Thanks to trading I gradually increased my capital over the years and even created my own tourism company as a diversification, although I had no experience and my partner betrayed me.

Another mistake was that although at the beginning I had assigned a cautious% to that investment, I did not take into account the expenses that occur in the middle of the project and finally ended up investing practically all my trading capital in it.

In Spain the bureaucracy is excessive and things work very slowly (a Spanish saying says: things in the palace go slowly) and after two years, I am still waiting to regain control of my business. This in Switzerland or Germany would have been solved in a week.

Due to all this and after having lived in a privileged area of Madrid with a nice car, a wonderful woman and without worries, I lost everything and had to go back to my mother's house.

My parents lent me 5000 euros to clean up my trading accounts and I decided to go to Albania to isolate myself and focus exclusively on trading. Unfortunately I chose cryptocurrencies without carrying out a previous analysis and attracted by their volatility, thinking that I could earn a lot of money, and being still affected by that drop in my life.

With no experience in this market, I made a lot of money in a short time and started doing nonsense, such as leaving very leveraged positions open with a margin call at 50% of the price of the currencies, thinking that in the bull market of that time it was practically impossible that I fell so much, or averaging down my losses .. Anyway, in April the great trap occurred and as we all know, with the IPO of Coinbase, the planets lined up to burst the bubble and the rich became richer.

I have everything documented, since I keep a diary, and the error has been basically that I have rushed without having experience in such a volatile and particular market.


Anyway, that is one of the examples of the importance of psychology in trading. Stay impartial in the losses, but as I have written here, also when you are on a hot streak and you think you can walk on water.

However I have no problem with that, I understand errors as variables that simply need readjustment, and I am in the process of reading books that help me with this aspect such as "trade like a casino", where it emphasizes the fact of forgetting the result , or even just skim through the NLP in monthly and not daily reports.

Regarding my trading system, I consider myself a trend trader. It's what makes the most sense to me; Identify a medium-term trend (weeks) and hold the position, entering with a stop loss as small as possible to get a good R: R.

I would like to be able to demonstrate my skills and my experience in an investment firm that wants to bet on me, and also join a group of serious traders with whom to improve all together.
When trading forex I am absolutely a trend-following trader also. I am taking a break from trading forex until the major pairs start trend-following again but I will get back to it.

However, I have a major issue with trend-following forex - I either set a tight SL and take profits early multiple times through a trend's life and get multiple small losses, or set a wider stop-loss so I get fewer losses but also must use smaller positions and get just a thin trickle of profits. There must be a rational approach to optimising these things - what do you think?
 

Programmer1

Newbie
3 0
How does Canary Wharf Bets work?
Hey, it's just a subreddit. Anyone can comment and make posts as long as you have a Reddit account. It's a good format for discussing topics and sharing links. There's 7,500 members at the moment.

Also, there's a discord server for casual chatting about trading throughout the day.
 

tomorton

Legendary member
8,378 1,335
Hey, it's just a subreddit. Anyone can comment and make posts as long as you have a Reddit account. It's a good format for discussing topics and sharing links. There's 7,500 members at the moment.

Also, there's a discord server for casual chatting about trading throughout the day.
OK, thanks.
 
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