I do not know how to call myself regarding my hobby I mean financial markets - I prefer term gamer. Because games are my passion and stock markets are truly place that gives you high enough challenge as well as prize when you are right and same as in all games you need to find the right scheme for you which will allow you to beat the game you are currently playing.
In case of this game currently I am playing it for 6 years - got more than 200k of trades behind my belt, my average w/l ratio is around 70-80% - some time periods are better some are way worst. Anyway few years ago I was thinking that I beat the game, but not late after that conclusion the game hit me so hard that I nearly collapsed and I am getting up from my knees till this day.
That is why I think that information I want to share with you do have some value. I experienced ups and wormholes on my way and below are some insights/principles that I am following.
- Knowledge share by the others do not have much value because the game like Minecraft and Skyrim can be played in infinite ways and each of those ways might be right and wrong at the same time. (yeap that kind of wrap up whole topic and my further writing do not have much sense ;) but what I mean is every one of us is different on psychological level got different experience and likes. So do not expect to buy system that will solve yours issues for you because it will not. You have to work it out and there are no shortcuts on your way).
a.Some people might say something about Turtles - but among them only few were successful and were selected by the trader to win a bet so people selected were with highest possible potential and yet not all of them succeed. To back up those words some of them got higher income then their teacher now which means they were able to update system their were playing to their needs and market environment that constantly changes. - If you play like the rest you will earn like the rest - which means little or none.
- Your system should be so easy that even a monkey should be able to follow its rules - because sooner or later markets will make you so brainwashed that you will behave like one and only simple rules easy to follow will be your shield.
- When you discover your way and you have proof that it works. Stick to the rules I mean it - stick to them. You cant even imagine how many times I failed because I thought that I am smarter than principles I forged in markets fire - well I was not :/
- No one will trip you as successful as yourself - so do not blame others believe me the market is so huge that no one cares about your pitiful trades and you are just dust in this machinery.
- At the begin the most important for novice players is how to open trades to earn money- in my current opinion it does not matter that much if at all.
- When you learn how to open trades. You realize that the closing is the thing that truly matters because closing decide about income or lose. So the closing is what you should focus about.
- After you learn how to close you will realize that money management is what truly matters. How much put into trade how much withdraw when to close when to open etc.
- Currently I am in the moment that for me truly important is risk management because it influences all of the above and decides on your profits in fact.
I guess that is the end for now, if you will like it I will try to share more thoughts about this topic. SO any feedback will be much appreciated and in high value for me.
Cheers.