Never give up on your dreams. My entire trading journey.

Background

I started forex trading about 4 years ago. Being very susceptible, I was attracted to the idea of a “get rich quick scheme” just by clicking and “betting” on the directions of the market. Little did I know, trading was not easy as I thought and I blew my account instantly. Feeling vengeful, I traded even more aggressively. Taking multiple trades a day while using the martingale method to recoup my previous losses… Yes, I blew my account again.

Then I took a long pause from trading and reflected on my action. I realised that trading is essentially gambling unless we have proper knowledge. This is where I started taking a deep dive into trading, learning both fundamental and technical analysis. Searching for the holy grail strategy that can help me reach my financial goal + recover all my losses.

Trapped in the cycle of doom

Even with the basic fundamental and technical knowledge, I blew my account yet again because I got trapped in the cycle of doom. It took me a full 2 years to finally realise that there is no such thing as the “Holy Grail Strategy” that has 100% win rates and profit without any losses. Because I was too engrossed in finding the perfect strategy, a few losing trades would cause me to abandon a perfectly good strategy and adopt another.

To be honest, every strategy works in its own way, the main problem I had was finding a strategy that fits my lifestyle. Luckily for me, I was able to find a mentor who teaches his signature strategy for free that actually works for me and fits my lifestyle completely.

Quick Strategy Break Down

This strategy is perfectly tailored for individuals with full-time jobs who are seeking an additional source of income through trading. It presents a user-friendly 'Set-&-Forget' approach, leveraging only two standard Fibonacci retracement tools along with the 21 EMA and SMA indicators. By dedicating some time every morning, traders can efficiently incorporate this strategy into their routine. Stay tuned for my forthcoming blog post, where I'll delve deeper into the intricacies of this method.

Pros and Cons

Pros

• A set-&-forget strategy that requires a trader to be there before the market opens.
• Once the parameters are set, there is no need for constant monitoring. Just let the market determine the results.
• Works best on Gold (XAUUSD).

Cons

• Lower win rate than most of the popular strategies such as ICT or SMC.
• Should be considered as a Swing trading strategy.
• Trader still has to take partial profit from time to time.

Endnote

As my passion for trading intensified, alongside my determination to recover lost funds, I persevered, working diligently to enhance my trading skills until I achieved profitability. Trading is a straightforward concept, but it is by no means effortless. Only those who are willing to invest significant time and effort will ultimately harvest profits in the future.

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