There are a lot of professions, where there is one way of doing things.
In trading it’s different.
In trading you need to find your own edge.
You need to find that setup, that method, which speaks to you.
If you find a method which speaks to you, then you can’t make it your own by copying someone else. Even if it is Don or Bruce or another great trader.
You need to do it all by yourself.
You need to test, to build, to try one timeframe, then another. This chart type, then another.
You will go circles, you will hear Don and others tell you to use x and y tick charts in combination. You should try it, but then you need to take the next step alone.
You need to find the setup which speaks to YOU. No one else matters.
I said you will go in circles, because I found myself returning year after year to concepts or ideas I’ve had in the past. It’s a bon writing a blog for a long time, because then you can go back and see, what you have done in the past, what ideas you have already tried, where you did not take a path worth trying now. Actually you don’t go in circles, you go up a stairway going round and round and round up a very high tower. You come back to concepts you have tried already, but with a lot more understanding, which allows you to use that old concept in a new way, a way not tested before.
In trading you need to trust your system 100% or you won’t execute it, you need to trust yourself 100% or you will do a lot of damaging things to your account.
To be able to trust your system and yourself 100%, you need to do it the hard way, you need to do it yourself, because ultimately no one else but you is responsible for your actions. You can’t blame the system for your failure to make money in trading, you can only blame yourself. We go long ways, we invest a lot of time and we pay a lot of money just to avoid that responsibility.
But only when I accept that no one else but me is responsible, then I will be able to do what is necessary to do to be profitable in trading.
Go to other chatrooms, test other methods, learn, learn, learn.
Don from SANUK group saying that only PA works is fine, but do YOU know that? Really? Can you tell me, why oscillators don’t work? Why CCI crossing the zero line, with the slow Stochastic at the 20 level and the Fast Stochastic at the 40 level is not a great long signal? Why a Moving Average crossover system will (not) work?
You need to try using the Stochastic, you need to use a moving average crossover system, you need to look at other things, because you need to come back to PA knowing what works when and when you better don’t use a certain method. You need to truly understand, that there is no Holy Grail.
Of course you can use this bit of information here and that bit from there to build your system. But in the end it must be your system. Not Don’s, not Bruce, not mine.
YOUR SYSTEM, which you trust, which you can trade and which makes you a lot of money.
You will invest a lot of money in your education, but trading is the one profession where you can make it all back in just a few months once you found your edge. It is possible.