Thursday, February 25, 2016
Restarted My Trading Journey Again and Again and Again
End of last year, 28 Dec 2015, I got a poke from SMOL in his article Urgh! I'm so mainstream... seducing me to join 'Jedi' trading warriors because of a very simple and convincing reason 'the Girls prefer traders!'. I already have a wife and 2 daughters. Guess they will love me more :)
Just a little history of my trading experience. I remembered I started trading much earlier when I was twenties and just started work. I was a rather high risk , adventurous, 'nothing to lose' kind of guy who try all kinds of things. I signed up for $3k course from a trainer from Australia, joined Zulutrade to follow signals, learn from my brother who also signed up with a local SG trader. Altogether, 3 failed attempts. What do you expect, I was young then haha. Now still young if compared to a elderly :)
So with my 'never say die' attitude, like a cockroach, I started looking through some of my old haunt such as forex factory and babypips forums looking for the 'holy grail' again.
I ran into some new guy and new information, so I took out $5k and kick start my trading journey again. Hopefully this time round, I can make it as a consistently profitable trader. Well, you never know until you tried. And forget about using demo accounts as you will not bother or care and much more learn from your trading experience if you use demo accounts. Of course, that's my opinion :)
If you are interested in trading and if you asked me again how should you start. Well, do not do what I just did previously. Save that $3k and use it as your trading capital. There's plenty of free information and friendly traders who will teach and discuss charts through videos and blogging. Here's what I recommend to learn from these forums but be careful as some of the members have commercial interest:
Lastly, I highly recommend this SG young chap Rayner Teo:
Rayner Teo is an independent trader, private equity fund manager, and founder of TradingwithRayner.
He's been voted — the Top 5 most helpful traders on Twitter, with more than 15,000 traders reading his blog every month.
So far I am making good progress with this attempt and will share my successful or failed trade setups so that I can remember and learn from it. More like a AAR (After Action Review). Just hope I can continue blogging about my trading experience, if you find that I slowly, silently disappear into the wilderness. It means that its another failed attempt. Anyway I need to 'limit my losses and let my profits run' and trade at least 100 times to confirm whether the method I am using will make me a consistently profitable trader. Its the same for long term investment, it takes time and learning from experience.
Wish me luck!