I believe, the most difficult job is to make money and its more difficult to make BIG MONEY. I don't believe, trading Forex can give me 'easy' money. I heard trading is about to discover who is 'yourself'. I hope i will know who i am during this journey.
When i go to 'supermarket', sometimes i will 'buy' for the sake of buying even though most of the times its not necessary for me to 'buy'. I believe its natural for me to think that because i already in supermarket and i have some money - so why not i buy now instead of buy it later. Hmm.. as buyer i always think like that. But as businessman, i not make money because i buy the 'product', but i will make money if 'other buyer' want to buy my 'product' at higher price. If they not 'interested' with 'my' product, i need to offer 'discount' price.
As a forex trader, i must think like businessman. If i buy for the sake of 'buying'; if no one interested to buy my 'product' at higher price; its mean i need to offer 'discount' price. My product as forex trader is 'currency'. Discount price is the 'value' I am ready to cut loss. If if buy a 'currency' which later, the demand is high - i will make profit.
As businessman, i need to do an audit. I need to audit 'all' product that i want to buy and at what price. I need to audit at what price, I sell that product. Do own research is the best way to identify which 'product' to buy. Its better to buy more the product that give profits, rather than try 'new' product that we not sure about their demand.
Forex Trading is a business. In Forex Trading, each 'currency' has its own value of product. Don't buy the 'product' for the sake of buying. You 'buy' because you see the opportunity to 'sell' at high price. If you miss that 'opportunity'; don't rush to buy for the sake of buying. Wait for another 'opportunity'. If you see, demand to your product that you buy is not as expected, offer 'discount' price and accept the loss.
Don't trade for the sake of trading, but learn to trade.
After reading a lots, i believe the best strategy is trend trades. The best trend trades is trade the pullback.
However i'm looking for formula to trade, simple but optimized. So this is my journey in forex and the main strategy is 'Pullback trade with trend'.
When i go to 'supermarket', sometimes i will 'buy' for the sake of buying even though most of the times its not necessary for me to 'buy'. I believe its natural for me to think that because i already in supermarket and i have some money - so why not i buy now instead of buy it later. Hmm.. as buyer i always think like that. But as businessman, i not make money because i buy the 'product', but i will make money if 'other buyer' want to buy my 'product' at higher price. If they not 'interested' with 'my' product, i need to offer 'discount' price.
As a forex trader, i must think like businessman. If i buy for the sake of 'buying'; if no one interested to buy my 'product' at higher price; its mean i need to offer 'discount' price. My product as forex trader is 'currency'. Discount price is the 'value' I am ready to cut loss. If if buy a 'currency' which later, the demand is high - i will make profit.
As businessman, i need to do an audit. I need to audit 'all' product that i want to buy and at what price. I need to audit at what price, I sell that product. Do own research is the best way to identify which 'product' to buy. Its better to buy more the product that give profits, rather than try 'new' product that we not sure about their demand.
Forex Trading is a business. In Forex Trading, each 'currency' has its own value of product. Don't buy the 'product' for the sake of buying. You 'buy' because you see the opportunity to 'sell' at high price. If you miss that 'opportunity'; don't rush to buy for the sake of buying. Wait for another 'opportunity'. If you see, demand to your product that you buy is not as expected, offer 'discount' price and accept the loss.
Don't trade for the sake of trading, but learn to trade.
After reading a lots, i believe the best strategy is trend trades. The best trend trades is trade the pullback.
However i'm looking for formula to trade, simple but optimized. So this is my journey in forex and the main strategy is 'Pullback trade with trend'.
Note: I use price actions to identify trend, support and resistance. I will try to avoid all 'maths' lagging indicators such as macd, stochastic, bollingger bands etc.
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