I wouldn't say this journal is intended to serve as much as a daily log of something related to my quest to become a better trader as it is to assist me in becoming a more efficient one.
I've run across other contributors to this forum who seem to think it is impossible for retail traders to realize exponential capital growth in the long term, and that there exists only a lucky few profitable traders based on the law of large numbers. However, I don't even bother replying to such comments because, in my view, they show that the poster doesn't really know what they're talking about.
First of all, becoming a profitable trader, the way I see it, has little to nothing to do with luck. Second, as to whether a trader can compound gains long term depends on what one means by long term. Of course, one can't maintain exponential growth forever, because at some point average trades are going to become so enormous that the trader's activity is going to affect the market. The time will come when a trader will need to transition from exponential growth to steady growth.
But putting all that aside, there is no doubt in my mind that I have a profitable approach to trading foreign currency pairs in my quiver, and therefore, I now wish to turn my attention to optimizing its potential as soon as possible.
Given that more than one person who knows about business has suggested to me that, if an entrepreneur wishes to operate successfully online, if s/he does not know how to write code himself/herself, then the individual needs to bring a technology co-founder onboard.
For that reason, today I begin the process of attempting to finish learning how to code in MQL4, the Metaquotes Query Language.
Of course, Metaquotes Software Corporation is the Russian company that developed the Meta Trader 4 (MT4) trading platform—and as for the language itself, basically the way that it operates is you program it to ask certain questions (queries) and then to do certain things based on the answers to those questions.
Subsequent posts will be designed to help me master the terms, ideas and concepts behind this program's design so that ultimately, at some point in the future, I will be able to write my own code for my own Forex trading company.
I've run across other contributors to this forum who seem to think it is impossible for retail traders to realize exponential capital growth in the long term, and that there exists only a lucky few profitable traders based on the law of large numbers. However, I don't even bother replying to such comments because, in my view, they show that the poster doesn't really know what they're talking about.
First of all, becoming a profitable trader, the way I see it, has little to nothing to do with luck. Second, as to whether a trader can compound gains long term depends on what one means by long term. Of course, one can't maintain exponential growth forever, because at some point average trades are going to become so enormous that the trader's activity is going to affect the market. The time will come when a trader will need to transition from exponential growth to steady growth.
But putting all that aside, there is no doubt in my mind that I have a profitable approach to trading foreign currency pairs in my quiver, and therefore, I now wish to turn my attention to optimizing its potential as soon as possible.
Given that more than one person who knows about business has suggested to me that, if an entrepreneur wishes to operate successfully online, if s/he does not know how to write code himself/herself, then the individual needs to bring a technology co-founder onboard.
For that reason, today I begin the process of attempting to finish learning how to code in MQL4, the Metaquotes Query Language.
Of course, Metaquotes Software Corporation is the Russian company that developed the Meta Trader 4 (MT4) trading platform—and as for the language itself, basically the way that it operates is you program it to ask certain questions (queries) and then to do certain things based on the answers to those questions.
Subsequent posts will be designed to help me master the terms, ideas and concepts behind this program's design so that ultimately, at some point in the future, I will be able to write my own code for my own Forex trading company.
