Many people think that they learn some entry signals, exit strategies and usage of trading platforms, and they can start to make money, retire and they can even trade right from the beach and live in freedom...
This is an attractive idea, but how can those people achieve this who work or run their business?
I considered it too risky to give up all of my fixed incomes 5 years ago, when I started to trade forex. Therefore I wanted to solve somehow to run manual forex trading and my everyday things in the meantime. Sure it came up to use robots or turn to professional money managers, but I do believe that there is no-one I can count on to make money for me in a long term, in a way that could be beneficial for me too. It is only my concern and responsibility to ensure the growth of my wealth!
I started to learn technical analysis and risk managed strategies from the Internet, then I participated some forex courses and after hundreds of hours of backtesting, I gained the academic knowledge but I failed to put it in practice. I realized that the 80% of the trades make no money, they are small wins small losses, but indeed they are needed to run the whole trading system. The remaining 20% are those trades which can move my balance into positive direction permanently, if I manage to realize the profits in time.
Instead of this, there were many times at my workplace when my trades closed with negative results, however, they should not have contained risk. And my big wins decreased by the time I came back to the computer to realize them...
As result, this deformed my trading system, as the point is, like in any other business, to decrease the losses and enlarge the wins, but it was just a pointless fight with the forex market for a busy man like me.
My big question was: How can I handle the growth of my wealth in a way that my trading strategy is 100% observed?
My solution is to split the work, and my view is that everybody should do what they are good at and nobody should do what they are not good at...
I quickly learned to read the charts and form my opinion about the current market, but I could not observe my strategy as I was too busy to be in front of the computer at the right time.
After long research I realized that the computers are not good at analyzing the trends and giving a clear view about the market, but they are pretty good at observing my exit strategy that I formerly set.
Consequently, the computer became my helping mate to make my forex wishes come true, and I am now on the right track.
I wish you not to give up your forex dreams because of your work or other everyday business!
You can apply some elements of my forex experiences if you read the document I have written.
If you need it, drop me a mail with a subject 'forex' to firstname.lastname@example.org and I will send it over to you. It is absolutely free...
Since I am interested in this topic, I would be glad if you shared with me how you fit trading into your everyday life. Any ideas and stories are welcome.
Best wishes and long lasting trends!