Image from Quotefancy.com
Been very happy with my performance lately, aside from recovering the NFP-related loss I had few months ago, I love the fact that I’m back to my regular groove now and showing consistent gains once more in my live trading account:
Unlike in my demo accounts before where I had 30-40% drawdown, I’m able to manage it better this time (perhaps the strong psychological effect of being more cautious when trading live):
Another good sign that I’ve been improving and slowly maturing as a trader is probably changing what I usually read and listen to.
Aside from reading very helpful forex lessons from Sam and Justin of FXRenew, and the cool experts behind Babypips Blog, I used to regularly listen to Rob Booker for weekly inspiration in forex trading, especially since whatever struggles he’s been through in trading were very relatable to forex newbs like me, and it was fun listening to his podcasts when I was just starting out. As I grew and improved, I realized that he’s a good example of what not to follow (especially after he said this— though I believe in the power of algorithms, I still don’t think a robot or EA can totally beat the market without the occasional human intervention and adjustments from time to time aka being discretionary [unless we already have a breakthrough in Artificial Intelligence and achieved ASI, that’s a different story]. I wasn’t impressed either with the $1k a day trader he featured since that trader simply deposited more money in his account instead of seeing how his account grew organically the way awesome Sterling Suhr of Day Trading Forex Live does and illustrates in his videos, and I’ve also read somewhere that advanced traders focus on % profit or pips instead of dollars–bragging how much dollar one earned in trades is typical newbie attitude). I used to like reading Van Tharp’s articles in his website and newsletters as well, but I find Brett Steenbarger’s psychology tips and tricks easier to apply even if he talks mainly about stocks instead of forex trading (I have one of his books too, The Daily Trading Coach, and I super love it!).
Right now I’m addicted in reading and learning EA ideas from the Steven Hopwood’s forum. Also recently, I’ve been checking out Vladimir Ribakov’s site and Dennis Hall’s trading blog for unusual ideas in trading.
Overall, I’m very very thankful for all the people that have helped me along the way, starting from September 2014, when I first discovered about forex trading for retail traders, up to now. I definitely still have a looooooong way to go, but I’m very grateful to have this freedom and opportunity to be more in control of my time and pursue this trading passion. I feel both nervous and excited how things will turn out many years from now.