Hello and welcome to FX City. I’ll start by telling you a little bit about myself, the author. My name is Daniel. I started to study financial markets and their price movements around 2009 and I have been trading since around 2010. It wasn’t until 2012, however, that I made the decision to start taking trading seriously and am now trading consistently and profitably.
I decided to make this website as a fun way of me logging the things that I learn. Like when we were in school, actually writing something down on paper helps us to ingrain what ever it is we’re trying to learn in our mind and gives us a reference to come back to. This is the purpose of my website. If the information I write here helps the readers in their trading too then great.
I have been through the whole trading journey, tried the different instruments like spread betting, binary options, buying shares. I started off learning about Fundamental Analysis using, reading the financial statements, watching the news. I found this wasn’t really effective for me and I found the whole thing very mundane and my analysis to be inaccurate most of the time. This led me on to the study of Technical Analysis and market psychology, which I fell in love with.
Like most professional Technical Analysts, I went through the journey of starting with the basics, moving on to more complicated advanced systems, failing, and reverting back to the basics. Keeping a trading system simple and working with the probabilities like a disciplined professional gambler is key to success.
I have failed countless times. Grown and blown my accounts. Made every common mistake and fallen in to every pit fall new traders fall in to. I did not have a mentor to steer me away from the common mistakes traders make, I learned the hard way. Its only because of my studious personality and passion for Technical Analysis that I stuck it out through these times and persisted to learn and continue with my trading.
As mentioned, I have now found my trading style and method of trading. I trade all the major Forex pairs, at the moment, using three long term strategies that I have devised myself with the help of the ideas in various books such as The Way of The Turtle.
The fact that the strategies I am currently using are long term, means that I do not have to spend every waking moment looking at the chart screens. I can spend the weekends and a few hours in the weekdays watching the markets, setting my trades and leaving them to run.
This gives me the freedom and time to spend being studious and focusing on other things. I love to back test different trading strategies that I find online. I find a lot of systems online with the promise of massive profits and “90% accuracy”. I love to actually test these systems and debunk them for the garbage they actually are. I don’t do it for this reason, a lot of the time there are still great ideas to be taken and tweaked from these kind of systems. Its a shame the people that come up with them don’t actually have a clue about professional trading.
So to wrap things up. In this website I’ll be sharing with you a lot of trading strategies that I back test, reviewing some of the best books I have read and just generally sharing anything I think will be helpful.