Monday, 16 November 2015

Do What Makes You Happy

Hello everyone, I hope you're all well. We had some tragic news over the weekend and it seems like every other week terrorist attacks are trying to tear the world apart. It shows how fragile life truly is.

I always like to try and take a positive from a negative and use it as a means of learning something new. I'm sure you have all seen the unity that has spread through France and the world since the attack, and I cant think of a better response to be honest.

For me it helps me realise that life is finite and playing the game of 'waiting' is just not worth it. What do I mean by that? Well, lots of people put things off. I'm sure you have friends or family members who are like this. Perhaps you are even one of the 'I'll do it... One day' crew. You owe it to yourself to take risks and to follow the path that will lead you toward your goals - whatever they may be.

I can still remember the very beginning of my trading journey, right around the time I realised that I had a real passion for it. I was fighting an internal battle as to whether it was worth the risk focusing all of my effort on trading, or whether I should play it safe and 'stick to the day job.' It was a very tough decision.

But I did it. I took the steps, refusing to wait until later, which more often that not is simply a crutch people use when what they really mean is that they wont EVER do it.

'One day I'll travel the world.'

'One day I'll write a novel.'

'One day I'll start my own business.'

For me it was difficult. I almost failed and I was in a dark place where I truly didn't know how I was going to move forward. I had to rely on the kindness of family for a loan when I literally had nothing left and the mortgage needed paying. It seemed crazy at those times to be trying to become a trader, an industry where 90 - 95% of retail traders fail. But I kept going and I kept working, because I loved it and it was what I wanted to do. I took the risk and I determined that I would succeed or I would be dragged away from my computer kicking and screaming and plopped down into some nondescript office and told to get back to the 9-5.

This is a trading blog, not some positive thinking nonsense page I hear you say! True, but I think it's important to reflect sometimes. Life is short and your time is all that you have to work with. And hey, it's my blog anyway!

Ok, here's today's trade, so I can at least pretend this was all about trading. It was based off of market dynamics as well as an expectation of price to close the gap which formed over the weekend due to the events in France. I've also been working hard perfecting setups for the trading room in February. Busy week last week, and even busier weekend. But worth it, because I love it!

Trade entered just before 8am. Trade completed before 8:05am. Gain £505 and done for the day.



I hope you all have a great trading week!

4 comments:

  1. I love your blog and Youtube videos! And keep mixing trading posts with positive life changing advice stuff :) I am almost 22 yrs old and want to trade Forex, slowly getting hang of it. Working part time, but I hate it lol, can't wait when I can trade confidently and make my dreams come true, helping my family and be the best version of myself <3
    Keep up the awesome work, sending blessings from Estonia!

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    1. Thank you Jonas! Keep up the hard work and you will get there

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  2. Like the sentiment in the blog James, I'm sure the "Life" question is in the front of a lot of peoples minds right now.

    Another very nice call on a market dynamic position. It looks like you let it run more than your usual 10 pip play. Did you lock in profit through the trade as it stepped through your initial target? With results like this your trading room will be full!

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    1. Thank you. It's always a struggle trying to figure out just how strict I should be about maintaining this as a 'trading blog.'

      Yes this move was for more than 10 points. I would say 80 - 85% of all trades that I take are for 10 - 15 points and then profits will be locked in or the complete position closed. However there are rare ocassions (especially with market dynamic trades) where I will let the market tell me when to exit. I could have let that position run longer but my profit for the day was made and I was happy to walk away.

      Believe it or not - and I know this sounds crazy from a trader - I wish my results had been slightly worse over the past 5 or 6 weeks. Although the trading has been fantastic, I know a lot of people come to trading with wild expectations. Going so long without a drawdown may well fuel them to expect they can 'make their millions'. I, along with all other traders, do suffer down days/weeks.

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