Hello Traders.
I have joined steemit to broadcast my views on trading and to share ideas with like-minded people who are devoted to the best game in the world - trying to figure out and profit from the twists and turns of the financial markets. Most of which are heavily manipulated by the big banks, which makes it even more challenging.
I have suffered for many years trying to figure out this puzzle until I realised that it is mostly psychological. So you have to master yourself and your emotions before you can become consistently successful. By which I mean you have a positive expectation of making money most of the time when you follow your trading plan. And when you do that it is like having your own personal ATM. Except that you never know how much you will get out of it each week or month.
My preferred time horizon is day-trading or short position trading during the week. I don't hold positions at the weekend because I don't want the stress of worrying about them when I can't control my risk - when the markets are closed.
I trade the Dax most of the time, also silver quite a lot, and sometimes gold. I keep an eye on the SPX, oil and major currency pairs for overall market context. I learned a long time ago not to trade more than two markets at once - I can't give more than that sufficient attention.
Everyone has their own unique trading style and preferred method or edge. It takes time to develop that, to get comfortable and to be able to handle the pressure when in a trade, without undue stress and worry. It took me about three years to really understand my preferred trading style and another three to really start to get consistently profitable. Most traders lose because they don't stick at it, don't work on themselves, and don't understand that it is a profession that takes time to learn, like any other.
Now I am on a journey that will never end, continuously improving and striving not to make mistakes. A mistake is not following your trading plan. It does not mean that you can't lose money. You can follow your trading plan and lose money; and vice versa. Full credit to Van Tharp for this insight. Add up the cost of making the mistake of not following your trading plan each week and you will see why you are losing money and how only small adjustments will make a massive difference.
My daxtrader blog will offer a view of where the Dax market is going each week, or more often if warranted by price action. I will also throw in some insights that might resonate with fellow traders and I would be happy to discuss how we can all improve. We will also take a look at a few other markets as we go along.
I will post on Sundays to take a look at the potential price action for the coming week.
I look forward to joining the steemit trading community!
daxtrader