Wednesday, October 10, 2007

Market moves

Market doesn't move in straigh lines. Last 2 trades were exited for a modest gains - GBPJPY short with 45 pips and AUDUSD short -8 pips...

I wat to highlight the idea I got from the Interview with McKay in Market Wizards:

>>> Susccessful traders always trade a system that MATCHES their own PERSONALITY.

Buying event the best system doesn't guarantee you will be profitable. Only developing a system that matches your style and a trading style that matches the personality of the traders is Essential!

I believe my recent experinces and losses just amassed due to my attempts to duplicate other persons' systems. Well either it was not fully understanding the system on overleveraging on a given siganl that didn't go right or not taking profits and turning gainers into losers -- these are all terrible mistakes...

Yes certainly they are... but I beleive it is just a tiring lesson that I don't need somebody to tell me how to trade since I got enough evidence I have a right view already and my chart reading has improved in yhe recent months....

I think I just have to believe in my own analysis and trade with respect to my own personality type.

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