My first ever post

After much deliberation, I decided to publish my own blog to pen down my trading journey.

I'll tell u a bit about myself first. I was introduced into the world of Forex and trading by attending a weekend Forex workshop. My Mom actually attended the course previously and it was so positive for her that after she attended the course, she signed me up for it as well. I went for the course in June 2008. And since then, I've lost a substantial amount of real money (or rather paid tuition fees to the market). After I lost my money in my own account, I traded my Mom's account and blew her account as well!

I started live trading in Sept 2008 and within just one month, my account became $4 from $1000. There were a couple of reasons for this to happen:

1) Not enough experience in the market
2) Not putting stop losses for many of my trades
3) Entering trades when the trading signals was not proper (eg. entering when one of the signal was not formed and anticipating its formation)
4) No money management at all!
5) No trading plan
6) Weak trading psychology
7) Blah blah blah....

The list can go on and on but these were the essential grave mistakes I've made within that one month....

Now, I'm on the sidelines and am being a good boy and am back to demo trades.

What I've done this year so far to improve myself:

1) Read up on trading psychology
2) Came up with a proper trading plan
3) Came up with proper risk management
4) Backtested my strategy thoroughly
5) Read up the Forex forums. Namely, the ForexFactory forum
6) Analysed the charts thoroughly. What do I mean by analyse? I have sat down for hours to drag the charts back-and-forth to see what happens when there's a doji candle, what happens when there's a MACD crossover, what happens during the market openings, what are the market psychology, why does price behave in such a way during a particular news, etc.

I'll post my goals and what I want to achieve in Forex trading in my subsequent posts. Look out for that...!