Here is my plan for future posts on this blog
- Top trading books – incl. “market wizards”, van Tharp, Dr Elder, Nisson, “Reminiscences of a Stock Operator”, and more.
- forex broker criteria choice
- treat trading like a business not a hobby (this costs money) and business makes money (and I believe forex trading is one of the best businesses in the world, although not easy of course, but what other business you can easily do after hours with a full time job, with as little as a $1k capital, with complete control of the risk, total flexibility of approach and full accountability where the results are totally a reflection of your decisions and your decisions only)
- trading systems – what are they, how important, what kind of systems are out there
- how to choose the right trading system for you – this is key to be profitable
- risk management – stop loss and position size. Gaps and multiple positions on correlated pairs. Avoid a margin call.
- action plan to become a trader – needed steps, a learning path, from reading, learning, via demo, then micro if profitable on demo, etc.
- mechanical systems vs. discretionary trading
- intuitive trading, i.e. discretionary and how important this is (as per Curtis Faith book)
- key elements of the trading system – setup, entry, close, position size, etc.
- ways to enter the trade – at market, limit order, on the break
- ways to place your stop loss – candle pattern high/low, or plus “a few” pips, or ATR based
- types of stop loss – hard stop at a broker, soft/mental, emergency
- ways of managing the trade – set & forget, trailing stop, half take profit, half to break even and trailing stop, etc.
- time frame choice and implications – time needed, number of opportunities per month
- over-trading vs. high quality trading, i.e. best setups only
- top trading rules, common ones from reading 50+ trading books
- trading capital – never trade borrowed money or money you cannot lose
- news trading – and why I do not trade the news (you need to have an edge)
- back testing – forex simulator tools and how to get a year of experience in a few hours
- beware of scams – esp. if too good to be true and magic trading systems
- realistic expectations – think expected return vs. max draw down you can handle – they go hand in hand
- risk vs. reward and percent of winning trades and number of trading opportunities as factors of your net result for a year
- my own trading system / method / approach / strategy / plan
- my trading performance – to be added via myfxbook.com
- my trades – examples with charts from my trade journal – good trades and mistakes to learn from
Sounds like interesting topics? Certainly to me 🙂 and I believe I have valuable insights to share!
Please consider adding this blog to your reading list and sharing with your friends. While I do not aspire to come up with a lot of innovation here (likely all of this is in books or forums), the value I intend to create for you is from compressed, actionable and relevant knowledge.
I decided against big aggressive social media buttons and ads everywhere, as I prefer minimalistic design and focus on high quality content, but I do encourage you to please share this blog with your circles or friends.