I had at one point, simply been using my own website for everything trading. Though, at the same time, any website I was part of , including myfxbook, my alias was always FSM . Though, it shoulden’t be seen or thought of as chaotic ( the markets ), it should always be taken very seriously. Practicing , and practicing with focus is two completely different ideas and schools of thought. I think at some point, every trader, early in the career, they stop practicing and the start obsessing on the idea of abundant success. Of course, there is nothing wrong with that focus, but trading your ass into oblivion will do nothing good for your trading habits and your psyche. Usually nothing good comes from trading your ass off.
I spent the first year of my trading journey paper trading my ass into another dimension. I would become motion sick and often had to take rests because of nausea , I was literally blowing up accounts every two to three weeks. I held so much pressure in keeping an account in a growing scenario, that when I failed, I would be so upset about it, I hated everything in the world, including myself.
Discipline is absolutely the hardest part about trading, and even the most disciplined person will have issues with staying disciplined. Most of what is in our path between placing trades and consistently coming out on top, is discipline to not increase trade size, to not double down on a losing trade, to not hope it comes back. I have a trading trainer app on my phone I play with from time to time, and I always think it is funny when it asks how much to risk when entering; 5% 10% 25% 50% 100% . Of course, every single time I hit the lowest amount I can, but the fact that you even can risk your whole account ( or more when using leverage in real life ) is proof positive that all brokers , even ones on paper, are just there to enable your greed to take over.
They really don’t care…….
Chaos is one of those things you first think of when you start studying the markets. And though it does indeed seem like chaos, it actually is anything but. Abstract, at times, erratic, volatile, and maybe crazy, absolutely , but never is it chaotic. Those who believe in market makers manipulating the markets, or institutions stealing from the retail traders, are the same ones who might believe the markets are pure chaos. This is just simply from a lack of understanding of how the market actually works.
On the contrary , nothing is less chaotic than the markets. Though institutions and governments may influence the markets, and market makers may profit from time to time on specific transactions during low liquidity , nothing is chaotic and everything has deliberate intention. Just like your life!
I personally have yet to become consistent. But of course, I don’t think I could ever say “I am a consistent winning trader” , just like a athlete could never say “I win three out of four times, everytime ” . But I do know, I am on the right path and have been for quite some time. Right now, honing in on my discipline is key. Always trading small, Always trading within the rules and the strategy, Always keeping record of everything I do.
I used to keep record on my personal site, but I decided to remove that ( there was a lot of emotional rambo jambo occuring because of the roller coaster effect I had going on ) and place it somewhere else,… HERE! I wanted to continue my alias, the flying spaghetti monster. I have plans on creating simple info on trading for members, and a chat room, so get on the band wagon and visit again soon!