Forex on Five Hours a Week: How to Make Money Trading on Your Own Time

Chapter 11. Trading Edge

Figure 11.18. The markets are your living, not your life.: 2006 "Fxstreet.com. The Forex Market." All Rights Reserved.

Regardless of where you are in your trading, there are certainly aspects of it that you may be looking to improve. We all are. Even as a seasoned trader of nearly two decades, I am still looking for better ways to measure market sentiment, improve my entries, and identify market trends. No trader is ever completely satisfied, but that doesn't necessarily mean we wipe the slate clean and start from scratch. I see far too many traders all too willing to do exactly that every time they pick up a new piece of software, attend a seminar, or read the latest trading book.

There is a point that many traders reach: the point of being completely overwhelmed. The point where there is simply too much information, strategies, and indicators creating the kind of confusion and muddled trading that every trader has experienced. The great traders move through this with the understanding that in the bell curve of learning how to trade, this is where the road to trading success diverges. Winners go one way, losers the other. And funnier still is the fact that the losing path is far better beaten. Did Robert Frost have it right in "The Road Not Taken"? At this point in a trader's learning curve the process of removing what doesn't work—not necessarily adding to ...