"Traders Belief" is a phrase I just thought up as a heading for this new section of my website.
I really did just think it up myself, I was sitting in the garden resting my eyes in the warm springtime sun when the though just popped into my head so I sat back down at my computer and googled it, OMG, nearly seven million pages listed for the search term "traders belief".
I will explain what I mean by traders belief.
All the sucessful traders I have met have one thing in common that really stands out, They ALL believe in the method they trade. One very important thing I learned about trading is that there is no right or wrong way, only the way that works for you as an individual.
Conviction, confidence utter belief in your methods are what allow you to hold trades even when they look like they might be going against you.
You are probably well aware of some of the well know ways to trade forex,
Support and resistance
Moving Averages trading
Elliott Wave trading
Trade chart patterns
Volume Spread Analysis (vsa)
Order flow analysis
Market Prolfile (mp)
the list is endless, the thing is that every one of those trading methods work. They can all be made to work profitably or fail abismally, it all depends on the traders confidence and beliefs in their performance. Wide stops and good money management can make any trading method profitable if you have big enough pockets.
I prefer precision trading myself, precise entries, miniscule stops and precise targets, rinse and repeat the trades again and again, not scalping, trend trading following the big money.
Get to the point I hear you say. Well, I have studied every one of those methods in depth and tried to make them work for myself. I managed to make money with all but the fundamental analysis. The problem was they were nearly all just too random, too hit and miss for my analytical mind, the only one really worth anything to me was trend analysis along with support and resistance.
So there you have it, That is the trading method I believe in.
I BELIEVE TREND ANALYSIS ALONG WITH SUPPORT AND RESISTANCE is the HOLY GRAIL OF TRADING.
Please allow me to show you why and you will too.