Great Article - Passion VS Interest

Really like this article, probably because it is relevant to my current situation.

http://2ndskiesforex.com/strategies-for-forex-trading/forex-articles/difference-trading-passion-interested/

The below excerpt really spoke to me:

I think many people get depressed when they lose focus or motivation because they think that successful people have some unstoppable passion and willpower that they seem to be missing. But that’s exactly the opposite of what this coach was saying.

Instead, he was saying that really successful people feel the same boredom and the same lack of motivation that everyone else feels. They don’t have some magic pill that makes them feel ready and inspired every day. But the difference is that the people who stick with their goals don’t let their emotions determine their actions.

The Traders Guild - Excellent Source Of Supply/Demand Material

http://www.thetradersguild.co.uk/trading-education/

I just love it whenever I chance upon great sources of information. The above site is fantastic. I'm halfway through the videos but I just had to post this. Great explanation, very thorough, and very organized. It basically sums up so many trading concepts, and the owner definitely has a great understanding on the markets. Understand how S/R lines are a result of multiple supply/demand zones, how PA bars are the by product of S/D zones, what is the orderflow dynamics behind a breakout and a breakout retest, what is compression etc etc. So far everything I've learned and know is in there. Lots of educational videos, twice a week webinars, FAQ, live twitter feed, all for free. I really respect and appreciate the owner Lovejoy for his incredible generosity and willingness to teach, do check out his FF thread at http://www.forexfactory.com/showthread.php?t=288707 too. The world needs more of such people.

7 Signs You Know You're Maturing As A Trader

Just want to share a great article: 7 Signs You Know You're Maturing As A Trader

Points 2 and 7 speak a lot to me. I still feel anxious whenever I'm in a trade, and get pretty down when I lose one. The thing is, I'm a very meticulous person, and when I'm really into something, I feel a strong need to perfect every single aspect of it. Now this has been a double edged sword. Because of my nature, I think a lot and dig deep into many aspects of trading. I think about the psychology and reason behind price bars, how the various time frames blend together; I do thorough post mortem of my losing trades to make sure I learn from them, and I've discovered a lot of little intricacies regarding the markets because I bothered to find out more. The downside is that I get too tensed up when I'm considering a trade, and once I've made it I start watching it on the minute chart and freak myself out. Yes not healthy I know, I try to justify it by claiming that there is a lot to learn about the fractal nature of the market by observing the lower time frame charts. Indeed it is true and I've learned quite a bit, but it is also not aiding my mental and emotional state.

Will be going on a holiday next week, but once I'm back I'm going to make a conscious effort to work on my psychology to eliminate this anxiety thing. I'm also going to demo trade even more because I want to learn how to scalp (maybe 5 or 15 mins chart). Thing is, J16 is quite anti lower time frame trading but the guys at RTM are scalping very well and getting 3-5R trades pretty often. The concepts they use also seem very sound. As such I'm going to practice trading supply/demand concepts the RTM way and see how it goes; hopefully scalping will fast forward my learning curve. There will definitely be tonnes of failed trades but I hope to learn from them and gain experience. Looking forward to that!

Trading Price by Phanti - Fantastic eBook

Just want to share an eBook that was sent to me by a new friend (you know who you are, thanks a lot for it!). Really think it is a fantastic eBook that is worth more than 10k courses out there, and yet the author so generously wrote it for free. When I read it I couldn't believe it, because the eBook describes exactly the way I intend to trade! It clarified and reinforced a lot of concepts, taught me more, and convinced me that trading a combination of supply/demand with James16 does work and is in fact very powerful. Here are the links for the ebook:

Trading Price I
Trading Price II

So after reading it let me try to put in words a brief description of my entry rules:

1. Identify higher time frame S/R flips and supply/demand levels. Apply Sam Seiden's odds enhancers to ensure that only good zones are considered
2. Wait for price to approach these levels, set alerts to inform me when price is near
3. Identify the trouble areas, if there is one nearby do not take the trade
4. Watch for confluencing factors

• PA bars (Pin bars, Engulfing bars)
• Compression
• Round Numbers
• Divergence
• Fibs
• Trend Lines
• Chart patterns
• Confluence with other pairs/Dollar Index

I believe the method is very sound and proven. I really think the main thing that is standing between me and success now is discipline and patience.

Useful VSA Video

Just want to share a VSA video which is actually a free weekly video newsletter from Traders Code. This video talked about absorption volume, test of prior supply area, and shakeouts. I really encourage signing up for this newsletter as it is free and so far has been really educational with no black box proprietary software or hard sell. Here is the link, enjoy!