My name is David AKA FXDavid. My journey in FOREX started in 2006 and like everyone else, I guess, triggered by the pool of money in this market and continued to solve vague puzzles. By the time, my business was on the rock, and I was looking for a way to get rid of everything. During my search, I went to a stupid meeting that was supposed to show us how to become successful in the Stock Market.
They talked about some rudimentary stuff and gave us a booklet about technical analysis. They also touched on online Forex market trading, which was somehow new at the time, and told us how huge it is, trillions of dollars per day. Isn’t that great! Now, how can I get a small portion of that money? The next day the long journey began.
Looking for Holy Grail
Looking for the Holy Grail was the first step where I tried to find a method, strategy or remedy to answer all of my questions and can read all the chart movements with no mistake.
Every now and then, I thought I found what I was looking for and the level of adrenalin hit the sky. Oh man, even though it was false prophet the feeling was fantastic. Sometimes I wouldn’t even open the chart for one day and would go to celebrate becoming rich — I’ll come back tomorrow and rip the profit.
You know how it goes. You open a position with no stop loss and burn the money to the ground. The next step comes with a little caution. I was still looking for that error-free strategy, but every time the adrenaline would pump to my veins, I’d get back and study the chart more objectively. I’d find I was wrong but at least I wouldn’t lose money.
Playing Poker
It took a year or so that I accepted the mindset was not right for this market, it’s been always in a cognitive part of my mind though. Something that really helped me understand that losing is a part of this game was poker.
I accidentally saw a thread that was about the relation between playing poker and trading and why poker players are potentially good traders. I spent a few months learning poker and then playing for a few months. I made a few thousand bucks from literally nothing, just a few dollars, but most importantly it helped me a lot especially to understand money management.
Learn and Experience
I studied and learned the usual way of using technical analysis and money management and went a little deeper to indicators codes to see what they intend to reveal in charts. Of course, I never became an indicator writer, or programmed an expert advisor, I just wrote an indicator, but I could understand the codes to some extent so I could see what they show.
Most of what I’ve learned come from self-study including reading books and browsing lots of forex forums. However, instead of sticking to one strategy and trying to backtest, develop and personalize it; I would spend most of my time looking for new strategies or weighing in fruitless arguments happening in forex forums all the time.
Finally, I decided to remove all my accounts from forex forums and stick to what I had learned and try to master at it and it worked. I learned how to trade profitably and how to improve my strategy and I have been doing that since then.
With that said, I rejoin one of those forums a few years later but this time, I knew how to manage things — not too active or argumentative, just reading some threads every now and then, however, I got carried away a few times and wrote some posts.
You can find my profile on that forum, forexfactory, here.
You Can Find Here
During all these years, I’ve gained a lot of experience not only about trading but also everything around this market from brokers to forex robots, how to find investors through for instance PAMM accounts, how to find free money for trading, contests, and many more.
In this website, I’ll try to convey everything I’ve learned during my trading carrier as well as new adventures and experiences that I’ll come across in the future.
David (FXDavid)