One win won't get you up just like a loss won't get you down, this is a marathon not a sprint.

Oh ive been real trading for a while ive had a good system that has given me some insane returns and I plan to continue my research. My brain works a little differently the more I make the more I like to learn and obsess ive already made an ungodly return even compared to some professional traders this month will unfortunately be my first month that I may end in a loss every other month has been very consistent returns and the accounts been growing very very nicely.

Noob here. How do you conduct your research? What is your basic guideline for researching? If you don't mind me asking. I start with TA on sunday takes me about 5 minutes to go through all my charts and spot potential setups. Then once ive picked out my trades I begin to look into upcoming news for the week relating to said pairs. Then I go from there to deeper research look all over the web for example ive been deeply invested in the JPY for a few weeks now specificly the GBPJPY I rode it from to then rode it down to now im currently in at But personally my strategy is very patience based to catch the perfect momment I had been eyeing the GBPJPY for a few weeks had a setup on sunday week of to didnt trust it due to Brexit then that night while researching I read an article on investing.

Also the trades I take usually have explosive reversals and thats what I look for I like to be in a trade for days before it shoots couple hundred pips in a direction then hold the trade for usually about a week or where ever my target is and then get out with large profit. I chase winners and cut losers so that also gives me massive returns on my account. The most important thing to me is using higher timeframes such as Daily and weekly. And I do agree. I used to try TA on M5, but it seems too random to accurately predict anything.

Yep this is what happens. The excitement does die down after a while.

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Once you have a good system, it becomes a bit monotomous. But it is a path to financial independence and a great career given time. I'm the same way. Been successfully trading for probably 8 years now. I don't stick to anything, and obsess over new hobbies constantly. Be careful what sources you listen to when you're researching ;.

Also, any successful trader I know is in it for the love of the game, the money is the byproduct. You don't get amazing at basketball by really wanting to make game winning shots. You get amazing by loving the game and dedicating yourself to it. Yes yes and yes I agree completely and what does Entp stand for? Lol but yeah honestly the money was the beggining motivator but the best reward is being good at trading ive called and caught some AMAZING trades and the thrill of just looking at the chart and being like "how did I just catch that massive move is this real life" is just insane.

Right on : best bet is just to trade for yourself. No degree can better prepare you, if you're going to college get a degree in something that gives you a solid backup plan, or something that allows you to easily work remote. IT fits those bills, for example, so if you do end up able to trade your own money full time like I was lucky enough to do, you can easily get a job quickly if things go south fast. ENTP is a rare Meyers Briggs personality type and it sounds a little like you, because it's a lot like me.

Google entp and see if the personality profile sounds familiar :p. Haha okay will do, I deffinetly plan to be trading for the rest of my life and im very young so to me this is like a dream come true to find Forex at such an early age I see it as a kickstart to doing what ever I want.

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I joined the military outof school so its very stabile as my income years left the oppurtunitys that are available, currently an Air Traffic Controller and thats for sure my back up plan, its different everyday and very fast paced I enjoy it alot. I have some friends who are in ATC, sounds like you have a good plan. Risk management has been a big problem with every younger trader I've ever worked with, and it always comes back to bite them without fail.

If you can control your risk and have safety nets, you're going to be very successful : Feel free to message me if you need any advice. There's also a big community in entp of people you sound just like, lol. What is Fundamental Analysis?

How One Simple Obsession Boosted My Trading Results

Fundamental analysis mostly refers to the use of economic data to predict forex price movements. While technical analysis focuses on historical Risk Management In forex trading, there are several factors that you can't really control. While you can be able to make predictions based on fundamental analysis Trading Psychology Now that you've studied the basics of technical and fundamental analysis, as well as the importance of proper risk management techniques, it's about time Trading Academy.

Welcome to FxPro Trading Academy. If you're reading this you have decided to join one of the world's fastest growing online communities. Since the Download our Free Forex Ebook Collection.

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Forex Trading. What is it? But the report also We'd be surprised if the title did not raise a few eyebrows! Opening points? Well, we can tell you that we're not referring to pivot point levels. This is a common method. Just type 'Pivot points forex' into Google search, and you'll be inundated with information.

A few thoughts on the need for patience in forex trading

As with any discipline, the world of FX is full of technical terms and jargon, which to the uninitiated can seem a bit daunting Trading Psychology. Online Trading Academy -. Trading is an interesting profession and has no peak as in other occupations. It is in fact an endless journey of discovery of oneself and trading itself. Trading for me at beginning was very tough not that I was not successful in other endeavours but i took it like every beginner thinking that it was easy.

With this perception, i approached trading without a plan or proper trading education on how the market works. Moreover, it is possible to have either obsessions or compulsions and still be regarded as someone who sufferers with OCD. It causes severe anxiety that can certainly get in the way of your daily life.

Are you one of those traders who must be right all the time? Whenever the direction of a trade goes against your liking, you will quickly point the finger at the market OR hold a grudge against your broker; blaming them for your own short comings. Furthermore, there are some traders who think that it is unnecessary to place stop losses on their trades and thus end up holding onto losing trades.

They do this simply because of arrogance and the notion that they cannot accept any loss. Perhaps they feel an underlying sense of insecurity and can draw a parallel between losing trades and a lack of intelligence? If you can identify yourself with the type of trader mentioned above, then you should know that trading is not an IQ test.

How did he do that? So, there is absolutely no need to be right all the time.

I know keeping this mind set can be tough, but you must be aware and try to fight this thought every time you get it. For instance, those traders who study: economic data, market fundamentals, and apply various indicators across multiple time frames — all of which they believe will give them some sort of valuable edge, or insight about future price movements..

External variables, like economic data and indicators, are notorious for giving conflicting signals at any given point in time. Therefore paying heed to all that information out there is going to lead to confusion, and ultimately poor trading results.

Forex Trading And The Obsession To Win

By learning price action trading , you will be able to read the real script of what is going on behind the scenes. You will really understand the dynamics of market psychology and why price behaves the way it does — you will never look back. Micromanagement in Forex trading may spur from the notion of perfectionism an attribute OCD victims are well known for. Maybe you get too involved in the lower time frames that you forget the big picture and the massive moves that only take place in the higher time frames.

Forex trading is your own business, and micromanagement in the business place is counterproductive — it moves the needle backwards, not forwards! One way that you could tackle this problem is by consciously making a point to stay away from the market after setting a trade — let it be and run its natural course. It seems difficult, but it can actually be easily done if you manage to keep yourself busy.

A temporary lapse of confidence happens even to the best of us. The same can be said for draw downs i. Luckily there are ways to deal with a losing streak and to bring your Forex mojo back up again. It was always my sitting. Got that?