I have been trading currencies for about 9 years now. Most of these years, I have lost money. A billion dollars here and there on demo accounts and then a few thousand of real money. I have made all the classic textbook mistakes you have read about. I have gone through all the psychological and emotional rides you have heard of. All these years, I have studied, learnt and applied dozens of trading systems. I have read books, followed gurus, listened to CNBC and Bloomberg. In short, I have lived the life of an average forex failure.
Then something different happened.
A few years ago, I stumbled across a book. Like any other book, I picked it up and it was on my desk for a long time, unopened and unread. I was busy with this job at a bank (where I still work). But then, My boss got sick and he had to take a few weeks off for his surgery, which meant I had a lot less work to do. So, I took this book to my office and started reading it in my free time. I was hooked. It had all the old concepts I have read about in the past but with a new perspective. There were old school trading systems (6 of these) like double tops and bottoms, candlestick triggers, etc. There was a bit of money management and psychology as well. But everything was with a different point of view. I started testing one of the systems in the book and after testing a few hundred trades, I got it right. Over the next few months, I only tested and traded that system and I became an expert in it. I then worked on my risk management and psychology. This was it. This is what made me a better trader. A profitable trader.
What worked for me was not a fancy trading system with colourful indicators and complicated algorithms. In fact, the system I use was developed hundreds of years ago. I just personalised it while backtesting and made it my own. Now, I only trade that system on 31 currency pairs (including gold, silver and crude oil). I look at my charts for only 30 to 60 minutes everyday (besides backtesting). And I work full time.
Trading doesn’t have to be complicated. It doesn’t have to be overloaded with information. You can make a lot of money trading if you just learn simple systems and focus on your risk management and psychology. The reason why I made this website was to try and get this out to people who intend on becoming successful currency traders. I will share my trading system, my backtesting results and my live trades here. I will also post the risk management and psychology hacks I use to help me in my trading. And I will do all this for free.
If you have any questions, send me a message by using the form below. I answer all comms I receive (other than spam, of course).
Your Price Action Loving trader,
P.S. The name of the book I read was Naked Forex: High-Probability Techniques for Trading Without Indicators by Walter Peters. You can get it from amazon by clicking here. Walter is also my mentor and he played a key role in my success as a trader.