Saturday, September 24, 2022

Trading Update

4AverageLife's Main Personal List
1. Fall in love with the type who fulfills my preferences and then marry this good woman.
2. Work out regularly with cardio-muscular exercises. 
3. Become a millionaire with a lot of free time on my hands as soon as possible without stressing myself out. 
4. Make this a habit. Play everywhere with the DJI FPV drone.
5. Buy a single family home. 
6. Finish my software engineering related courses.
7. Work on applying clean stuff to my face. 
8. Continue to do growing-naturally-taller routines, even if some of them are a scam! 
9. Read as a habit
10. Force myself to initiate cooking.
11. Force myself to initiate doing proper things at work.
12. Speed up process.
13. Research for future trips. Buy tickets and book airbnb. (After paycheck)
14. Make this a habit. Conduct regular hygiene. Take shower before sleeping. 
15. Get car registration settled (After paycheck)
16. Return old drone for selling and unused merchandise (on weekday)
17. Buy a close friend a birthday present (After paycheck)
18. Prepare for upcoming trip by using checklist

#3 feels easily within my reach now. It's just a matter of time.
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What really works is following Warren Buffet's first and second rules to investing. Rules #1 and #2 is to make sure you don't lose! From looking at my losses, it's all about limiting them and I could have saved myself 95% of my losses last night by looking at my trades in the evening. 

I decided to forgo doing this because I had a hot run where I gained over 40% in a period of two weeks. From looking at my trades and implementing a couple additional technical indicators on my base chart, I realized that I could have saved myself some money by just avoiding it at that time. I learned from my mistake and don't mind making adjustments, while continuously moving forward with my personal trading rules.

What's lucky for me is that my system is picking up plenty of opportunities on a daily basis to make profit so it doesn't hurt to lay off on some of them. From googling on how to make money with Forex, it says you have to be an extremely skilled trader and most traders will pretty much set themselves up for big losses in this market while concluding that it's some form of gambling. 

This isn't the case for me anymore, and I think I really have some working theories that are consistent in this market. It's just that I won't be sharing it with anyone and only helping a few special people in my life who I think are deserving of being blessed to be making money with me. I'm going to be very selective and don't care about making more money with people who have gigantic pockets. 

With my system, I have accepted that I can limit losses and set myself up for money making opportunities by trading once per market session. There are three main sessions in a 24-hour slot, so it makes sense for me to break it down and conveniently trade in the morning, late afternoon, and late evening or before I hit the sack since this system is catered to only me and I can even do it in my sleep!