I suppose I was a “Jack of all strategies” I was using around 6 different methods and my charting screen was a mess of indicators.
To keep myself updated on the latest methods & tactics I joined every trader’s email list.
I was getting hit with the “latest, greatest” forex strategy every damn day.
1000 pip analyser
Pip scraper 3000
Chart Magic 2.0
….i think you get the drift.
Every month I would buy the latest new shiny forex method.
It was like a heroin addict getting their fix.
The big promise of “pushing two buttons” on the latest automated trading software was too good to pass up.
My process was flawed and looked something like this.
-Elliot wave theory
-Scalp the day
I wasn’t a trader.
I was an opportunity seeker and I was losing money with every new strategy I applied.
I got caught in the noise of smaller timeframes trying to make that quick money with super tight stop losses.
I over traded and lost even more trying to recoup the money to get back to break-even.
My account was slowly decreasing.
I wanted to win more than I wanted to learn.
No freaking clue.
I chalked it up to a lack of experience.
Year two, I was going to crush it.
I made it back from the battlefield alive.
I would be more selective.
…boy was I wrong.
I went all out with the latest indicators.
Moving stop losses, changing limit orders.
Exiting trades that went slightly against me…only to watch them fly into profit.
I know you understand how this feels.
The frustration then taken out on the market in the form of revenge.
(That’s it I’m going all in!!!)
I lost weight.
I wasn’t eating right and was zoned out every night.
My wife was getting sick of my addiction and the all too familiar response of “I’ll be there in 5min honey, just setting up this last trade” was getting tiresome.
I never tracked any of my trades or made any attempt to understand why they were going wrong.
I just blamed it on the system or that particular indicator.
Year two, I was almost burnt out.
Nowhere close to my potential.
I was using a ton of indicators and my focus was way off.
…then like a punch to the face.
I realised I was operating like a Jason.
(this Jason persona wasn’t even a twinkle back then)
…at this point as a Jason, I had probably maxed out my earning ability.