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Major Review
I've been mulling over the question "where am I at?"
It's probably around 9 months to 1 year since I got interested in Forex in a major way, and during this time I have been going through the process of accumulating knowledge from many sides, in an aggressive sort of way. This body of knowledge includes around 60 ebooks, at least 30 systems, 20 regular books, "coaching" (which normally denotes videos, webnars, questions & answers etc) from about 5 people. All told, I would broadly divide this body of knowledge into two categories: Professional and Amateur. There are grey areas in that a lot of the professional and amateur knowledge is mixed together. So I could break this down further thus: Full Professionals (i.e. futures traders, bank traders, pit traders). Successful Retail Forex Traders (people who learned this subject from scratch and made a living from it) Semi-Amateurs (people who write and market ebooks, yet sound like they are curve-fitting their systems or are just on thin ice in general - usually prove their systems via backtested results, and usually have wild claims about 85% + results). Total amateurs and forum geeks (i.e. "hey guyz check out da new system I just invented! Way cool! Can someone write an EA for this? ;-)" That whole scene in general. So I have all of this, and I see similarities and connections that I'm now trying to weed out of it all - a sorting out process. I guess this is why my blog has died down a bit, AND why I switched over to my demo account. For instance, in the above categories, I definitely see a leaning towards discretionary methods in the professional end of the spectrum, and a leaning towards mechanical systems at the amateur end. (This is not a concrete rule though because there are of course brilliant systems traders in this world). But anyway, there IS a trend there... At the professional end of the spectrum, things are more simple yet paradoxically difficult to do, such as sitting on your hands waiting for AAA trades to set up. At the amateur end, things are more complex yet easy to do, i.e. "when CCI crosses the zero line and stochastics cross up, and price is above the 13 ema and etc etc etc" I've noticed that you tend to not hear this type of thing in the information I'd categorize as professional level information. There is probably lots more I will write about this period of "sorting it all out", but this post serves as a beginning.... |
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