It’s a Matter of Principle

Filed Under (Journal) by Casey on 21-05-2009

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Over the months, since I started this blog. I have been in contact with a lot of people and some of them has in way become penpals. It is nice to communicate with other people of the same interest and along the way learn from one another.

Mostly I do the learning from them…. :) That’s because surprisingly, most of my penpals are veterans in forex trading and they trade big. Some of them are full time traders. Some of them are part time and small traders like me.

But I recently (as in this week) started to communicate with them direct via messenger. Don’t know but somehow or rather most of them uses skype and I don’t really use skype, I mostly use MSN and Yahoo Messenger… While I do have a skype account, but have not touched it for ages.

So because I wanted to start communicating directly with them rather than back and forth via email. I reinstalled my skype and started adding contacts.

I had a great chat with most of them. And one chat in particular really hit me deep. This guy is a veteran trader in forex, he manually trades and only recently looking into EA. He agreed with me that robot trading and manual trading should not be differentiated. Forex trading is forex trading…. period. Manual or automatic you can’t run away from the fundamentals of trading AND most importantly the physiological part of trading.

While robot trading does take out the physiological part in pulling the trigger to enter and exit. It does not however take us away from the main physiological part in ourselves on ‘the way we trade’ either manually or automatically.

This may not be his exact words but this is how I interpret it. Ok… I’m still trying to wrap my head on this and trying to understand.

He did mention that, my approach with regards to the 2% money management is the most important thing I got right. *Blush* and the next thing is not only my trading plan but my principle in which I trade. I went… *huh*

Trading plan I can understand but my principle in which I trade?!?

He said the principle one should have is unique to each individual… this can not be taught only learn through experiences.

Again… *huh*

Then he told me for example… my principle of respecting others. He gave me an example, he asked me for one or two EA which I indirectly promote but could not forward to him because of my promise to not share by the request of the first person who forwarded a copy to me.

He say… that itself is a principle which should be used in my trading. He say by respecting people, you respect the market. By respecting the market, the market will open up opportunity for you.

For the 100th time…. *huh*

Hahaha… I think he really gave up on me.  It’s true as he said it… it is something that can not be taught but learned.

As I was drafting this post I was chating with another penpal. And I threw him this question on whether he had principles in his trading.

Patient and precise… was the keyword that knocked me. So after picking these two veteran’s brain. I went back into my cave and started meditating about all this.

These are two veteran traders both manually and automatically trading the forex market. I should say that they are successful cause trading is their life.  Or rather they are trading for a living…. What every tom dick and harry wants to be when they start to trade the market no?? :) Their words of wisdom should mean something.

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Nothing came out on my first try in meditating on their words…. should try it again. It’s Thursday…. market coming to an end of the week and most robot would stop after today. Have to sit back and think. Hopefully something comes up in my head before next weeks start so that I can apply what I learned.

These forex trading stuff is deep…. very very deep…. :)

And these EA sellers says… automatic trading is EASY….

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I am a guy with full of coincidences… As I continue to draft this post… I got an email and I guess this guy really put more thoughts into this situation… No Brainer Automated Trading . A good read….

It’s a Matter of Principle on how you go about trading… whether it is manual or automatic trading.

Thanks Steve for helping me to close this post….

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