Coming into 2025, I am a 63 year old railway worker from the UK who day trades forex on my shift days off. I've been trading my own small account for over 10 years but it is only recently that Prop firm challenges have allowed me to enter the larger trade size game. I trade without indicators , often fading moves with no confirmation. I regard myself as a contrarion trader trying to do the opposite of everyone else. Although I don't want to trade like anyone else, I have been influenced by many along the way. Firstly was the wily old Welshman Sid Wyeman and his correlation trading then Rob Booker (The Traders Podcast ) who introduced me to Rob Wilson (Author of 5 Bullets, and his Edge trading course), Shonn Campbell (Author of Inventory Trading) and his friend 'Luck Manager' Mat Lacoco and Scott Welsh ( Systems and algo trader). Then there was Adam Grimes (His TAAS course and Author of The Art and Science of Trading and The Art and Science of Technical Analysis books). Next Steve Winiarski (Nat Gas trader, paracurve.com blog and fxsanalytics.com course ) and Al Brooks (Trading Price Action books and the brookstradingcourse.com). Bob Volman (Forex Price Action Scalping and Understanding Price Action books). Trader Allen Barry, professional gamblers Nick Mordin, Barney Curley, Alan Potts and Alex Bird, authors Malcolm Gladwell, William Poundstone, Naseem Taleb, Mark Douglas, Bret Steenbarger and the list goes on.  Trading psychology, is all based on gambling psychology  and I manage it by creating my plan, as best I can, to avoid those psychological triggers that send me on tilt and allow me to improve my trading without the ups and downs of emotions getting in the way. More detail of that will be in my section 'The Edge', on this blog. As for the idea that the market is created by human psychology, you know fear and greed, and it makes patterns that repeat, well it all sounds believable, however considering that a lot of the institutions are coding algo's on computers to trade (I've  seen 80% or more touted) and most of the weaker losing retail traders are not atually in the market, (Lets face it doing a simulated prop challenge doesn't make us a market participant and neither does being in a broker's B book), so how is fear and greed of all the participants represented in the charts? Copy trading, Twitter X, Facebook, Reddit, Instogram, Slack, Discord and other social medias don't interest me to use to trade with as they involve crowds and one way or the other, in the end, the masses always lose. However having the contrarian approach to this information may initially put us in the path of a juggernaut, but if we stand back and let it run it's course and trap the momentum crowd , then maybe we have an opportunity. Who is actually trapped I don't know. Maybe it is not the who, but the it , the Algo's that are trapped, all the 'AI's self learning algo's', realizing they shouldn't actually be still in the market long and panicking to get out short! There are times I do trade with the breakout crowd, however I'm often out long before their huge risk/reward trade pays off, taking only a tiny bite of the pie. The easy money.  'Cut your winners short and let your losers run' is my motto, along with 'The end of the trend is your friend'!  Fibonacci retracements, and moving averages in that esoteric mumbo jumbo called technical analysis  do not interest me, although trendlines and support and resistance in the same breath do. I don't use indicaters especially the ones with wavy lines like oscillators as they are just too subjective for me although I can see that in the right hands they may be useful. I carefully monitor ranges and swings in my markets to guage volatility and set my stoplosses and find my fades at price exhaustion points. I avoid being in the market during major news but may jump in as it is settling down. That's about it really.

Create Your Own Website With Webador