The holy grail of trading is between the ears
It's been a long time between blog entries.
A quick update on what I've been up to trading-wise since April:
- I went on a world-wide trip, which included visiting the stock exchanges in New York and Vienna. I learned that the 'speculative mind-set' so prevalent in Americans and Australians doesn't occur to the same degree in Austrians.
- I've been trading both the Australian and US stock markets. The biggest downside has been the value-loss of holdings denominated in US dollars this year. The lesson for me has been that I should hedge for currency fluctations before they occur. You live and learn.
- I've been trading currencies actively this year and have not had a single losing trade.
Having traded different instruments for so long, I can say that I've finally found a home in currencies.
I don't use technical indicators at all when trading currencies, except for the simplest of trend indicator for longer term positions.
I've been considering launching a proper web site to describe my views about trading forex. So many systems are sold out there that sell indicators, and here I am making money using free charting software without indicators and making progress through simple discipline.
There is no holy grail, only self-discipline and using your head.
