It’s been a extremely crazy past few weeks. A whirlwind of emotions.
Starting out trying to trade E-mini (ES) options, because I wanted something that traded round-the-clock. (I live in Asia so US market timings aren’t good for me at all.)
Started out pretty well, but then soon after I began to do badly, and I decided I wanted out.
I wanted to trade something that gave me much more opportunities to trade in a day.
Nothing against ES, it’s just that I didn’t want to be trading just one instrument all the time. I found it quite limiting. The other futures options didn’t have all that much liquidity in my opinion, especially during Asian hours.
Which then made me turn my attention to Forex.
I’ve never ever wanted to come near Forex in the past because I thought it i) was extremely complex, ii) was extremely difficult to be profitable in, and iii) required a huge amount of capital.
After a few weeks of intense research into Forex, I learnt that it is actually realistically possible to trade Forex provided you know exactly what you are doing.
What I like about Forex is that, apart from it being tradable almost 24 hours a day, it is extremely liquid and there are so many currency pairs to choose from.
There are so many opportunities to trade in Forex at any given moment, provided you know how to trade correctly.
Which also meant I finally had to learn price action trading strategies, something which I had never really bothered to get familiar with in the past. (I had been using trading indicators in the past.)
Price action trading really opened up a whole new world to me, and I began to see the market much more clearly, having now understood the concepts of market structure, support and resistance.
I can’t believe I had been trading all along without having understood anything about market structure.
I’m constantly learning as much as I can every day about Forex trading and how to be a consistently profitable Forex trader.
It is extremely intense, but I believe all the effort will be worth it in the end.
It is going to be a very very long road ahead.