A couple of years ago (around the same time I started posting on this forum) I opened an account with the intention of learning the FX market and adding its diversification. Since then, I've done nothing but push the odd meaningless trade through from time to time to keep it active.
What the fx will be a journal to chart my efforts trying to come to terms with the challenges this has presented to me compared to my rather simple life trading a couple of US indices.
Why keep a journal, and why online? The reasons, simply put, is that FX is proving a lot more challenging than I had anticipated. After a troubled start trading equities, I found keeping a journal a critical part of the learning process. For me I have to have a consistent approach, the ability to review trade decisions afterwards away from any emotional distractions allows the development of that consistent approach more quickly. Secondly I'm hoping the upkeep of an online journal will give me the motivation to get on with it, which has clearly been lacking this last 2 yrs.
I will try to keep posting in the Indices thread, but this journal will comprise of FX only content, and my thoughts on the differences and challenges I am experiencing. It will likely start off quite slowly as I am more of a swing trader. Although I do mainly post daytrade ideas on the indices thread, those are markets I feel I understand and swing trades are a bit hard to keep track of on a public forum. FX pairs are more like women, interesting and attractive, but I in no way understand any of them, therefore I feel it more prudent to start off out of the daytrade noise, and see how things develop from there..
What the fx will be a journal to chart my efforts trying to come to terms with the challenges this has presented to me compared to my rather simple life trading a couple of US indices.
Why keep a journal, and why online? The reasons, simply put, is that FX is proving a lot more challenging than I had anticipated. After a troubled start trading equities, I found keeping a journal a critical part of the learning process. For me I have to have a consistent approach, the ability to review trade decisions afterwards away from any emotional distractions allows the development of that consistent approach more quickly. Secondly I'm hoping the upkeep of an online journal will give me the motivation to get on with it, which has clearly been lacking this last 2 yrs.
I will try to keep posting in the Indices thread, but this journal will comprise of FX only content, and my thoughts on the differences and challenges I am experiencing. It will likely start off quite slowly as I am more of a swing trader. Although I do mainly post daytrade ideas on the indices thread, those are markets I feel I understand and swing trades are a bit hard to keep track of on a public forum. FX pairs are more like women, interesting and attractive, but I in no way understand any of them, therefore I feel it more prudent to start off out of the daytrade noise, and see how things develop from there..
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