I recently answered the above question on Quora. ” I won’t know how long it will take you. It took me 2 years for forex. Maybe I am slower. There are many elements to learn in trading in order to be consistently profitable – understanding market structure and determining the edges are just two of many. Money management, trading psychology, […]
Whilst drawing up the trading plans I analyzed edges, key price levels, expected profits/losses, trade management, probabilities etc. After the trade has been executed, I became obsessed with the P/L (profits and losses). Traders who focus on the P/L will likely swing with changing short term accounts of the market environment. They will lose focus of the overall picture […]
Simply, an edge gives you an advantage in a trading opportunity on a generally consistent basis. It does not guarantee an outcome. It does not give you control of an outcome. In trading, our emotions gift wrap our perceptions and thinking. Even when we can see through coloured lenses, logic may still lose the contest of will, and we execute […]
Recently I completed work on a short term trading system based on holding a trade for a longer duration (approximately 4 hrs to 30 hrs holding time). Before this I held my trades anywhere between 5 mins to 6 hours, and was used to trading exclusively in the first halves of the Asian and European sessions. You can imagine how much havoc the […]