IT Project Manager to Forex Noob

[...] , why does the conversation always turn to gambling and what’s the difference between an average gambler and a trader? Here’s what I think: The average gambler is in it for the quick win & [...]

[...] , funded with money I am prepared to lose but would rather not! I haven’t completed my trading plan yet, I can’t, as I still have not found a strategy that suits my personality. I know how [...]

[...] or unsuccessful, but I realise now that I need to think and plan more strategically. My trading plan now has a new section headed “Workarounds”  where I’ve listed my faulty [...]

[...] Average gamblers tend to over-trade – Traders limit their trades based on their trading plan and also treat trading like a business The average gambler shows emotion when they win [...]

[...] level on the chart, but really, I don’t understand support and resistance on the lower time frames and I have decided to move back up to the higher time frames where I don’t feel like I& [...]

[...] resistance level, marked by the red line on the chart. This prompted me to move to the lower time frames and short the GBP/USD. My first short was a disaster (ish), the resistance line was broken as [...]

[...] up my breakout charts on the 5 minute and the 1 hour charts. What a white knuckle ride the 5 minute charts are!  It’s more excitement than I can take, It’s like being asked to go on [...]

[...] webinar I realised I am just not experienced enough to identify good trades on the 5 minute charts. I am up on the week by 60 pips. Yesterday I had two successful trades returning a [...]

See chart below – I traded GBPUSD on 6th May, following the rules of the breakout strategy (well almost!). I’m a great believer in going [...]

[...] breakout errors. Here’s a successful trade from yesterday and one of the breakout failures! GBP USD, I traded a bounce off the support line. There appeared to be confluence at this level on the [...]

[...] called “the form” and shouting at the track. Whenever I have a conversation about forex trading with a non trader the conversation ALWAYS switches to gambling,  last night, again, my [...]

[...] , an IT project manager by day and a Forex wannabe the rest of the time. I started trading Forex using a live account in December 2013, funded with money I am prepared to lose but would [...]

[...] See chart below – I traded GBPUSD on 6th May, following the rules of the breakout strategy (well almost!). I’m a great believer in going with your instinct if it feels strong [...]

[...] right direction, annoying!  Or I was just a downright numptie. Then after watching the breakout webinar I realised I am just not experienced enough to identify good trades on the 5 minute charts. [...]