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Forex Trading is a long march to your dream of financial freedom

Viewed 178 times 2017-5-18 11:29 |Personal category:Economy and Life|System category:Life| freedom, dream

From December, 2016, I started a test for Forex trading based upon a kind of self-designed algorithm. And this version was already updated from that applied around 2011 t0 2012. To my surprise, this newly upgraded qusi-robot trading system worked very well and within 4 months the profit rose up to over 30%.

 

And just before I initiated preparation for celebrating the success, the market ripped up all my dream within one week after Mr. Macron won his presidency.

 

The direct reason seems to be that the Euro rocketed up without too much looking back and this trend is in my algorithm but it overrun the range I predicted. After profoundly analysis of my fault, another mistake was found and I think it would assume more than half of the responsibility for failure this time, and it is that I changed some parameters key to trading volume not in accordance with the standard I set originally but with my greed expansion caused by the smooth profit earning, in another word, I broke the principle, discipline and the law set to trade. And these rules were drawn and formed based upon previous failure and “bloody” experiences and should be more rational and scientific than those generated by me on the spot.

 

However, most fortunately, I quit the trading timely and decisively when I found the trading process was going out of my designed risk range and major part of my capital was secured, and this decision was also made upon the experiences years ago.

 

Sober reflection, especially after a crushing defeat, gives me more references for future amendment and updating to the trading system. Additionally and most importantly, I have to remember deeply in my heart: once a system has already been set on a rational algorithm, any temporary and unproved amendment/update to it would mean a risk which might lead to a disastrous consequences.

 

Therefore, the most important factor for success, either in the field of Forex trading or in our life, does not lie with the preset parameters or standards, but with to what extent you can perform a self-control.

 

When a person has clearly recognized the relations between self-control and success, his/her dream for any kind of freedom, including financial freedom, will not be too far.

(Opinions of the writer in this blog don't represent those of China Daily.)


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