I believe that we live in a competitive society and obtaining proper information is sometimes the key to finding one's success. With the information technology boom which is always on the rise and great for me because I get to thrive in it from having liked it when I was a kid (okay, I'm not that great at it just have enough stuff to get things done eventually), I'm going to hopefully give some hints away to anybody who wants to read what I've been up to and are sort of interested.
I've mentioned occasionally on this blog that I've been working with the Forex Market. The great thing about Forex is its flexibility and unlimited accommodations to suit any trader's personality. For my end, I have some programming and math background from my college days and have come to find that it's very useful. Besides not really trying to brag about how good I am and just emphasizing the benefits of being able to do computer programming, trading can allow for the risky ventures of automating it with some code. Traders have come to term this automated code as robots doing the tedious trades for them in Forex. Robots are not actual machines pushing buttons, but more of the concept that it just follows directions and never sleeps which could be advantageous in picking up on a trending market when one is not at the computer.
Robots are also called a special name which are expert advisers. I'm using a trading platform called Metatrader 4, despite some of its programmable limitations. It was a little vexing for me to not be able to duplicate functions with different parameters- in plain English, it just means I couldn't tweak around the same logic a little bit and make life easier as programmers are accustomed to with the C language. Anyhow, I finally managed to create a full expert adviser and in the mode of testing it. It's doing what I want, and I still feel a little queesy haha about it because I still need to build confidence in my robot. It's doing everything I want it to so far, and I might have to make some more slight modifications but the hard work paid off and feels like I had some enjoyment out of it.
I'm also using another robot which has been revolutionary to some traders and is a pretty profitable tool. It's on the retail market and there are practically a lot of robots out there for purchasing. It's not very recommended by the big time experts because it's better to learn Forex on your own and pick up on your personality. The overall and big picture traders or what are called position traders seem to know what's up the most because they're using concepts or finding them and applying principles that work. I think I touched upon some of those recently and still need to find short cuts- basically, it deals with Fibonacci retracements and the Eilliot wave theory. They are very cool to learn about and somehow seems like happening most of the time, if the person picks up on it right. However, there's the accuracy factor. I only know a little about those ideas but it would be nice to trade in the big picture scheme too. I'm currently in the day trading scheme which is doable since I have a robot now starting trades automatically where I want them. The benefits of being the big picture trader (position trader) is needing to spend only like 20 minutes a day tops to realize what's going on and how to bring in the money.
Overall, trading is about 90% personality and finding the right method that fits the person to be successful at it, which is what makes it so hard and only 5% really come to master this. This is a profession that requires a lot of discipline and what would even be better is if the person develops passion for this field because once the right tools are acquired, then it's time to make a killing in the Forex market. Interested people can find out more about it by researching on it, and it's good to take their time on this because it's pretty downright tough to get a lock on it. Thinking in business terms, the person has to make profit over the revenue and losses so it becomes a numbers game to make more winning trades and this could be thought upon as very risky but the pay out could be so immense from putting the hard work and discipline into it.
How the government still allows us to be able to trade in this market and make some money is interesting. I wonder if there's really any conspiracy around here. Because of foreign exchange being such a crucial thing for international businesses, it looks like an industry that's here to stay and reward top dollars to those traders who learn the right way to think in this market. I sort of joked about with my friend that if currencies united into one currency then there wouldn't be any currency trading market to begin with haha. It might be closer to everyone seeing the end of the world by then. Professional Forex traders also get to take this knowledge and apply it to other stocks and might be able to do well in them.
Academy of Scrappy Credible Undergraduate Desire
