New Week, New Attitude: The Bitter Trading Habits of ForexDiva

If anything, I should be getting an A for attitude. I've been trading forex for more than two years now and haven't given up just yet - always getting very close, but then realising if I just put in some extra effort, maybe it'll be different. Admittedly, I didn't know what I was doing for the first year and a half, but I started slowly understanding market movements about the time that Lehman happened.

When I look back on some recent posts, I realised that I had some pretty good ideas. This does not help with the bitterness factor. At the height of my bitter rampage, I actually purchased my second (third?) Katy Perry single on iTunes. Talk about a bitter woman? Now that woman's bitter. Her songs are, at least.

Anyway, behind my own bitterness, there has been progress. It's been slow, but I want to take a look at my bitter trading habits and hopefully, this time, really, really learn from them.

Technical

I've got a pretty good setup going on here. I love my beautiful charts! They show me when the stop-runners are likely to strike. And now, I can even surmise when large players are in the house. Seriously - and I know how old that one is!


Psychological

I've got a contrarian, trading ego thing going on too. Fear is my biggest psychological impediment. It's almost like I believe trading is an uber alpha male thing (which it is) and I am but a little diva who used to think praying works in trading. It's scary to be trading against so many alpha males with huge brains (and probably egos). I've only got the ego so far, but if I can get past the fear and the trading ego, I'm sure it'll be one of those One Small Step for ForexDiva, One Giant Step for Divakind situations.


Money Management

Stop & Reverse... it's a double-edged sword. However, I truly feel it is useful in many cases. I just need to ascertain when.


Probability

All trade setups are not created equal! I think I'm having a bit of an issue discerning why and need to be all practice what you preach and review my post below on how to move trading probability in one's favour.


Fundamental

Trading the news has killed me twice this year. But everyone knows Fraidy Cats have many lives.


Timing

The market runs on a rhythm of its own. Impatience is my forte, but it's not a virtue. I might stop trading some of the slower pairs altogether unless the risk:reward is really too good to resist.


Anyway, it's a new week. I'm going to try to turn bitter into better.

Here's to my fellow couch-jumpers!