I suppose I was a “Jack of all strategies” I was using around 6 different methods for getting into trades.
…and various others for getting out.
I always left money on the table and my charting screen was a mess.
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.
Pip scraper 3000
Chart Magic 2.0
….i think you get the drift.
Every month I would purchase the latest new shiny forex method.
My thought process was…
…the more strategies and methods i knew, the easier it would be for me to trade and win.
I was an addict.
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.
I was constantly being pulled in different directions.
-Elliot wave theory
-Scalp the day
I wasn’t a trader.
I was more like 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 over days and months.
I wanted to win more than I wanted to learn.
My first year.
…let’s call it a warm up to bigger and better things.
Year two, I was going to crush it.
I mean the market chewed me up and spat me back out but I made it back from the battlefield alive.
No more shiny forex systems.
“I’m going to align my focus”…
…oh well, that didn’t go quite to plan.
I went on a shopping spree.
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
(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.
A consistent strategy or method?
I was using a ton of indicators and my focus was way off.
…then like a punch to the face.
(this Jason persona wasn’t even a twinkle back then)
…at this point as a Jason, I had a mental & monetary ceiling that I was not even aware of at the time.
Your blind to it unless your awareness kicks in and says WO WO WO hold on a second here.
…there something funny going on.
I mean I was seeing plenty of traders online making a ton of money.
…the consistent profits, the lifestyle, people quitting their jobs and going full time at this trading thing.
But for some reason that life was always just out of reach, I was starting to think that I wasn’t built for this.
*No email required.
Risk Disclosure Statement: Trading currencies on margin involves a high level of risk which may not be suitable for all investors. Leverage can work against you just as easily as it can work for you. Before deciding to trade currencies you should carefully consider your trading and financial objectives, level of experience, and appetite for risk. The possibility exists that you could sustain a loss of some, or possibly all of your trading capital. Therefore, you should not fund a trading account with money that you cannot afford to lose. It is recommended that you seek advice from an accredited financial advisor if you have any doubts as to whether currency trading is right for you. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. Any losses incurred by traders unsuccessful in applying these ideas or methods are the sole responsibility of the trader and ForexMentorPro.com and its principals, contractors and assigns will be held safe from prosecution in any form.