I knew when I started this blog that I would not have the time to write on it as much as possible, however I thought it would be harder to come up with ideas to write about. The latter is much easier then anticipated, for which I am thankful.
One of my favorite threads on Forex Factory seems to have been taken over by knuckleheads that are bent to disprove the theory that is presented by the writer. I find these people to be quick to judge and quick to speak while driving away people who actually care about the topic. What this has caused me to do is to become actively involved with my posting on such forum to try to get it back on track. This, however is a catch 22 for me since I am a STUDENT on the forum and not a teacher or expert – when this happens to me I feel very out of place…a fish out of water per-say. As a last ditch effort I throw myself on the “grenade” to stifle the blast and save as many as I can. It may blow my reputation, but the value far outweighs the risk.
As for trading this week – I am still learning patience…I have a thick head and for something to settle in, it takes a lot. I have discovered that no matter how successful I may be, I still need to have the heart of learner. Any one I talk to about Forex (most have larger accounts than me) is still learning how to be a “better” (I almost said trader but this word fits better) decision maker when entering a trade. We all are traders and successful ones in our own right – it’s a matter of perspective – but it’s the decisions we make that determine the end of the day results and that is how I measure success. Even though I may be profitable, I end up feeling that I could have made better decisions. Decisions about my time managment, my risk management, who I’ve talked to and who I could have talked to instead…these are the decisions that I find myself questioning. “How could I have done better – How could I have been more successful?”
I am sure my partners are asking the same questions about me, but the Sign business is just as affected by the economy as the Forex market. We experience ups and downs…side ways markets – trend lines – breakouts – and everything in between. I feel right now that no matter the amount of work I put it…the chart will decide my future. I find myself thinking, “If only I could decipher what those bars mean on that damn chart…” Just like every new Forex trader wants a golden key to turn and BAM they make money…I want a golden key to turn and sell signs…but what I have learned from Forex is applicable in my business. Patience and persistence is key. Bottom line – if you have the patience to wait for the right opportunity, to make the correct decision it’ll happen — Success. The persistence comes in when it doesn’t work out the way you anticipated, you need persistence to discover that you still have an idea of what you are doing, that you still have a plan.
I still have a plan – both in Forex and Sign Me Up. I just need to execute it.
See you in a day or two…