While trading the FX markets for the past 3 years I discovered several things about myself. First, that my trading niche was in equities, the US equities to be more specific. The FX market might be the biggest market out there but it doesn't have to be your arena. Being exposed to different markets reveals your niche. Not all markets are the same, FX has its own personality when compared to either futures or equities. It is critical that you identify what works for you in order to survive in trading.
Second, I discovered that like many members here that trading had enhanced my character in ways that wouldn't have been possible if I weren’t exposed to the markets. The markets taught me to take responsibility for my actions; it also transformed my mindset which automatically changed my character. I am no where near the person I was 3 years ago, the mindset transformation alone was worth the journey.
Third, market preparation is everything in trading. With market preparation came conviction which made entries, exits and re-entries seem effortless. Preparation has also removed all the anxiety and discretion from my trading. Having a solid plan is critical to long term survival and having a game plan for the day is critical for long term survival. I have come to learn through experience that the bigger the trader the more time he spent planning. I have a 14 page trading plan and I still feel it lacks a lot of the elements that would make it complete which brings me to my fourth point.
Fourth, trading taught me that one never stops learning and improving in the markets and in life. The moment one becomes closed minded and refuses to learn is the moment they stop developing. I have learnt that the markets never remain the same, if you fail to catch up, you will be left behind.
I could go on and on about how trading changed me, at the end all I can say is that I love trading which is a field that has given me so much to the extent that I am not it just for the money anymore.
Second, I discovered that like many members here that trading had enhanced my character in ways that wouldn't have been possible if I weren’t exposed to the markets. The markets taught me to take responsibility for my actions; it also transformed my mindset which automatically changed my character. I am no where near the person I was 3 years ago, the mindset transformation alone was worth the journey.
Third, market preparation is everything in trading. With market preparation came conviction which made entries, exits and re-entries seem effortless. Preparation has also removed all the anxiety and discretion from my trading. Having a solid plan is critical to long term survival and having a game plan for the day is critical for long term survival. I have come to learn through experience that the bigger the trader the more time he spent planning. I have a 14 page trading plan and I still feel it lacks a lot of the elements that would make it complete which brings me to my fourth point.
Fourth, trading taught me that one never stops learning and improving in the markets and in life. The moment one becomes closed minded and refuses to learn is the moment they stop developing. I have learnt that the markets never remain the same, if you fail to catch up, you will be left behind.
I could go on and on about how trading changed me, at the end all I can say is that I love trading which is a field that has given me so much to the extent that I am not it just for the money anymore.
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