I joined here on valentine’s day exactly one month ago. I have read materials and topic in this forum and now it is time for my first post.
This journals tells my story from slowly losing trader to a break even trader and further to a confident consistently winning trader and finally journey of growing to the same level with the top AIMSters here. With your help guys I’m sure I can make it!
Something about me and my background:
I have been learning trading and different methods for about five years and last 2 years of it very actively. I have lost big amounts of money when starting and win small amounts of money later with more knowledge and discipline so i can say that I have lived that part of the traders cycle and should have and idea what it takes to trade successfully. I do have hardcover of “Trading in the Zone” it is very good book. My background is in harmonic/fibonacci trading and I think it suits very well with AIMS methods.
My start here in the forum was very similar with other newbies. I find out very quickly that information is spread across the forum topics and it is very confusing. There are topics noting “click here its important” and when you click there is note that content is already outdated go to another topic which has related information but for very different system and additional rules only for advanced.. but I was looking for basic rules.. and go back and find out method with another twist and another link to another topic and..
That kind of cycle is very frustrating for a new member and I truly understand why some of the previous members had similar experiences.Luckily ebooks are excellent and important topics are marked as sticky. My solution was to step back, read B.W.’s third book to learn basics and then came back to read forum posts and ebooks with a thick notebook. Now I have basic understanding of the system and psychology behind it.
However, I’m still confused which method and timeframe would be the best choice for me. Maybe you dear reader or Immy can help me with this?
Here are my boundaries for selection. 1) I live in GMT+2 area and have day job so I can’t trade London or Frankfurt open live. I can trade 1-2h during NY open if I reorganize my life and work. 2) I can trade currencies but NOT Dax30 CFD due to tax legislation. 3) I have a limiting (old) belief that lower than 5min charts are basically noise and spread will eat bigger part of the market move compared to higher timeframe..
? Any suggestions? The Setup, The Seed or The Fruit method? Seed rings my bell but it is very hard to get clear picture about the rules because it doesn’t have own ebook and eg. timeframe instuctions are contradictory when one post say to use 1h and another to use m1 #-o
