It is so simple!

It is so simple.

How to become a consistently profitable trader?

Here is the action plan to become a pro trader, in its simplest form:

1. find and learn to trade a profitable trading system
2. execute it flawlessly

That's it.  Simple yet hard. 

I am not there yet. Writing helps me clarify my approach. Those who traded for a while will understand what I mean.

If I had a chance to read this "action plan" a few years ago, I would probably think: "blah, blah, just share a profitable trading system and I can make money". Yeah, this is less simple, now I know. Read on.

Coming soon

Here is my plan for future posts on this blog

• Top trading books - incl. "market wizards", van Tharp, Dr Elder, Nisson, "Reminiscences of a Stock Operator", and more. 
• forex broker criteria choice
• treat trading like a business not a hobby (this costs money) and business makes money (and I believe forex trading is one of the best businesses in the world, although not easy of course, but what other business you can easily do after hours with a full time job, with as little as a $1k capital, with complete control of the risk, total flexibility of approach and full accountability where the results are totally a reflection of your decisions and your decisions only)
• trading systems - what are they, how important, what kind of systems are out there
• how to choose the right trading system for you - this is key to be profitable
• risk management - stop loss and position size. Gaps and multiple positions on correlated pairs. Avoid a margin call. 
• action plan to become a trader - needed steps, a learning path, from reading, learning, via demo, then micro if profitable on demo, etc. 
• mechanical systems vs. discretionary trading
• intuitive trading, i.e. discretionary and how important this is (as per Curtis Faith book) 
• key elements of the trading system - setup, entry, close, position size, etc. 
• ways to enter the trade - at market, limit order, on the break
• ways to place your stop loss - candle pattern high/low, or plus "a few" pips, or ATR based
• types of stop loss - hard stop at a broker, soft/mental, emergency
• ways of managing the trade - set & forget, trailing stop, half take profit, half to break even and trailing stop, etc. 
• time frame choice and implications - time needed, number of opportunities per month
• over-trading vs. high quality trading, i.e. best setups only
• top trading rules, common ones from reading 50+ trading books
• trading capital - never trade borrowed money or money you cannot lose
• news trading - and why I do not trade the news (you need to have an edge)
• back testing - forex simulator tools and how to get a year of experience in a few hours
• beware of scams - esp. if too good to be true and magic trading systems
• realistic expectations - think expected return vs. max draw down you can handle - they go hand in hand
• risk vs. reward and percent of winning trades and number of trading opportunities as factors of your net result for a year
• my own trading system / method / approach / strategy / plan
• my trading performance - to be added via myfxbook.com 
• my trades - examples with charts from my trade journal - good trades and mistakes to learn from  

Sounds like interesting topics? Certainly to me :-) and I believe I have valuable insights to share! 

Please consider adding this blog to your reading list and sharing with your friends. While I do not aspire to come up with a lot of innovation here (likely all of this is in books or forums), the value I intend to create for you is from compressed, actionable and relevant knowledge. 

I decided against big aggressive social media buttons and ads everywhere, as I prefer minimalistic design and focus on high quality content, but I do encourage you to please share this blog with your circles or friends. 

Thank you!