31 Aug Welcome To My Index Trading Blog!
Hello and welcome to my venture into blogging about trading Indices and FX Markets!
Having been a Bulletin Board Thread owner and main contributor (20,000 posts) for the last couple of years on a hugely successful forum, I’ve often considered entering the blogosphere and going it alone.
I’ve always been put off by my lack of website knowledge – Until 4 days ago I didn’t even know how to register a domain name, let alone build a blog and here I am now placing my first proper post on what appears to be a functional website!
But now I’m here, I’m suddenly lost for words and can’t think of anything to type. I’ve got no solid chart setups to post because I’ve spent the last 3 days building this site having barely looked at the market.
My intention with this blog is to openly discuss various trading setups and trading positions that I’m interested in taking, following up each trade with analysis to enable understanding of it’s subsequent success or failure.
The real drive in creating this blog was part of a larger change in the way I approach trading from a work/life balance perspective. Up until now I’ve combined 3 very different methods of trading; Scalping, Day Trading and Swing Trading.
Unfortunately this takes up considerable amounts of my time and energy and I’ve come to realise that there is a line I need draw in order to repair my work/life/health balance.
As part of my scalping system It would be no exaggeration to say that I’ve sat at my trading terminal and watched the best part of 135,000 1 minute candles form as I’ve continually developed my various scalping strategies. If I carry on like this, the last thing I’ll see on my deathbed will be an image of a Japanese Candlestick. I’m not sure if it will be a green one or a red one, but either way, I’ve decided I don’t really want to find out!
So, the plan going forward is to scrap the scalping systems because as profitable as they are, until I discover a way of automating them, they are simply taking up too much of my time.
Therefore the initial (but changeable) plan now is to concentrate on spending less time at the trading screen and more time in longer term, lower maintenance trades.
Don’t get me wrong, if I happen to be at the screen when a beautiful intraday trading setup occurs I’m unlikely to just ignore it and where possible will post advance detail of it, including a chart where possible, on this blog.
Up until now, I have been best known as “Index Trader” and “RS2OOO” on ADVFN and I’m unlikely to completely withdraw from that environment, however, I will build this blog to discuss some of the best technical trading setups as a way of storing easily referenced material all in one place that I can call my own.
I have no idea where this blog is headed, but I do hope you will stick with me and enjoy what I’ve got to offer.
Good trading to all…..