Continued to trade on my live account using the ABC system and make some but loss more... burst my account and had to top up so many times that I lost count. At the same time, learning from the forum and employing them on my live account as well. Somehow, it seemed that I do have some beginner luck as I always make some good trades with new system but eventually all profit goes back to the market.
I was getting frustrated most of the time and even fear started to creep in when I trade. One day, during our usual chatting session on the forum, this person nicknamed "mac" offered to meet me and share with me on how to trade. I appreciated his offer and arranged for a convenient time to meet up. It was also around the same time that I responded to an advertisement on the recruitment of FX dealer by Six Capital. I attended the briefing session with my childhood friend and was impressed by the content that was briefed. I just had the feeling that this had to be the way to trade for a living. Hence after much consideration, I signed up for their 6 months Trainee Dealer Program (TDP).
I also shared with mac on my decision and intention to attend the TDP. He advised that I should therefore concentrate on the training and hence we eventually did not meet up. I attended the first theory session of the TDP, which generally covers the basic of FX trading, topics such as support & resistance, trendlines and chart pattern as well as the mindsets of a trader.
There are generally three types of basic chart pattern, continuation pattern, reversal pattern and consolidation pattern. Firstly, the Continuation patterns are Flag and Triangle.
Head & Shoulder, Inverted Head & Shoulder, Double/Triple Top or Bottom are Reversal patterns.
Consolidation patterns are Rectangle and Triangle.
The six mindsets of a trader. 1) Don't Lose, 2) Don't Hold, 3) Don't Risk, 4) Trend is you Friend, 5) Manage your Ego and 6) Live to fight another day. I had to internalize the six mindsets and hence I wrote a creed to help myself remember them better.
"A Trader Don't Lose in Trading, so if we dunno or not sure, we don't do. And if we do, we Don't Hold so that we Don't Risk, by not holding we minimize our exposure time (risk).
We always trade with the trend because the Trend is Our Friend. We Manage our Ego so that we are emotionally detach from the market and if we had a bad day, we stop trading so that we Live to Fight Another Day!"
After the theory session are completed, it's purely hand-on trading experience, internalizing the mindsets and mastering the skill. During each trading session, the trainer will analyze the market condition before the trading session start and along the way, explaining how and where a trade can be done or how the price action develop allows one to do certain thing. The trading sessions are indeed useful and help a lot on one learning curve.
However, my conclusion, I realize that learning to trade is really as easy as 123, but to master them and how long you take to master them would depends on the individual. Especially internalizing the 6 mindsets, it's more than just to memorize and remember them.
I was getting frustrated most of the time and even fear started to creep in when I trade. One day, during our usual chatting session on the forum, this person nicknamed "mac" offered to meet me and share with me on how to trade. I appreciated his offer and arranged for a convenient time to meet up. It was also around the same time that I responded to an advertisement on the recruitment of FX dealer by Six Capital. I attended the briefing session with my childhood friend and was impressed by the content that was briefed. I just had the feeling that this had to be the way to trade for a living. Hence after much consideration, I signed up for their 6 months Trainee Dealer Program (TDP).
I also shared with mac on my decision and intention to attend the TDP. He advised that I should therefore concentrate on the training and hence we eventually did not meet up. I attended the first theory session of the TDP, which generally covers the basic of FX trading, topics such as support & resistance, trendlines and chart pattern as well as the mindsets of a trader.
There are generally three types of basic chart pattern, continuation pattern, reversal pattern and consolidation pattern. Firstly, the Continuation patterns are Flag and Triangle.
The six mindsets of a trader. 1) Don't Lose, 2) Don't Hold, 3) Don't Risk, 4) Trend is you Friend, 5) Manage your Ego and 6) Live to fight another day. I had to internalize the six mindsets and hence I wrote a creed to help myself remember them better.
"A Trader Don't Lose in Trading, so if we dunno or not sure, we don't do. And if we do, we Don't Hold so that we Don't Risk, by not holding we minimize our exposure time (risk).
We always trade with the trend because the Trend is Our Friend. We Manage our Ego so that we are emotionally detach from the market and if we had a bad day, we stop trading so that we Live to Fight Another Day!"
After the theory session are completed, it's purely hand-on trading experience, internalizing the mindsets and mastering the skill. During each trading session, the trainer will analyze the market condition before the trading session start and along the way, explaining how and where a trade can be done or how the price action develop allows one to do certain thing. The trading sessions are indeed useful and help a lot on one learning curve.
However, my conclusion, I realize that learning to trade is really as easy as 123, but to master them and how long you take to master them would depends on the individual. Especially internalizing the 6 mindsets, it's more than just to memorize and remember them.
No comments:
Post a Comment