A little background: I've traded/studied the technical part of trading (FX/Commodities) for almost 4 years every single day, testing out new ideas, analyzing, logging down, backtesting etc however hundreds of system and patterns that I come out with just stop working. It might work for 3-5 years on backtesting, if I put it onto another pair it stops. Or it might only work for a certain period of time. I am from the little red dot.
I am looking for a mentor to guide as well as teach day in day out. I will not and never give out your systems or strategies. I am willing to work 20 hours a day or do anything that helps me towards achieving profitability. I am willing and desperate to sacrifice anything in return for trading success (Even my life). Flying over to your country to learn is also fine with me. I do not know what I can give in return but I hope my willingness to succeed can make up for it because I will never give up.
So if anyone that has already succeeded and looking for a student to impart your knowledge, please do tell me, I may not be the brightest but I will make it up with hard work, I will make sure it will be a good decision and you will never regret it.
Thank you.
As you have tried so many systems and patterns, it must be that you haven't decided what you need to find. Your search will continue for ever until you decide that.
There are basically only two strategies - follow or fade - i.e. following the trend or trading the reversal.
Trend-following demands patience, planning, discipline, building positions, a lot of waiting for set-ups, accepting a lumpy and unpredictable income. It is low risk, modest return, low risk of wipe-out.
Trading reversals demands decisiveness, quick responses to unexpected situations with incomplete information, opportunism, real-time price monitoring, spontaneity, imagination. This is high risk, dramatic return, risk of wipe-out.
Personalities can be divided into these two types. trade the right style for your own personality.
Whatever you do, stop day-trading. It is highest risk, low return, astronomical probability of wipe-out.
