Well its been a while since I posted a new thread. Well here I'm finding myself wanting to make better contribution.
A bit about me
My intro to trading
I began trading forex a couple years ago, once I realized that my daytrading stocks was minimal because of insufficient funds to exchange infinite roundtrips in the stock market. I immediately joined a trading forum/chatroom. I began learning all about trading, as much as I could. Free movies, Free Webinars, and absolutely free pump n ditch stocks to say the least (I didnt even touch these, I was only here to learn the various tools used to exchange markets). After I realized I didn't possess the minimal day trader standing funds in my account. I have done research and came accross Forex.
My Intro to forex
I started seeking out more about this forex currency. To make a long story short it brought me into babypips (I learned everything I needed to know about trading at the time from babypips). I found out I could exchange currencies with minimal money thanks to leverage.
My Forex trading experience
I ended up opening my very first demo account. Did great on this until I realized that I was ready to start a new account about 3 weeks later (big mistake that was). I attempted approaches, all types of indiors, this, that, and a bit of everything only to dismiss my account. Too much emotion, didnt know about levereging properrly, and impatient. I started another account a much larger account $2K drew it down to about $700, then I built it back up to $2001K back and was so happy I thought I finally got the big picture. I repaired my account from $700 to $2K in less than a few weeks. Boy oh Boy, I had been Mr. Hot Shit... lol; however a few weeks after my dismay I had been humbled... I drew my account to $500 because I had been cocky, overlevereged and overtrade. A total year and a half had gone by throughtout my trading forex into acheive failure standing. Upset, furious, mad, spending 1000's of hours staring at charts, looking for the holy grail I couldnt come to grip with reality and my readily disillusioned trading.
Where trading took a turning point for the better for me.
After so much frusteration, I chose to get rid of indiors, emotions, and and decided to truly observe the market for what it really is. I had a friend I had been trading with via skype and we would share ideas and thoughts. Both of us were fed up at this stage and I told him one day... Man I'm done. I want a rest for about a month and collect my thoughts and concentrate on how I was planning to examine charts and determine what the market was really doing. Viewing throught the smoke and mirrors. My friend agreed and stated he was likely to do the identical thing. We kept in touch and attempted to mentor each other. (I'm a self tought trader and so was he. We never paid for training except for the money which we dropped)... I researched, and studied PA, on FF, on the Internet and everywhere I could think of. I was ready to jump back into trading...
This is the end my friend
I called my friend, said guy I'm jumping into trading, so I am ready to go. I stated I'm trading naked (priced just charts no indiors). Once I threw off all my indiors and began trading, I realized where my trading went wrong (aside for being over leveraged). I really started to observe the market for what it really is. I revealed a friend of how I've begun trading and I found a ton of success on this. Not rich success but success in trading. I told him I lowered my leverage, and began investing in a new smaller account and trading much smaller lots. Below is an example of a chart I showed him and I sent him several examples of these trades that I had been carrying:
He began seeing my entries and he explained man how and what exactly are you doing to make those trades, I stated that its just the way I began seeing the market. He responded well guy that resembles Wyckoff. I'm asked who the heck is that? He responded its Jack Wyckoff. Look him up. I looked him up and to my dismay I saw Jack Wyckoff Trading method charts. I'll post those in the following reply to provide a concise summary of who he is.