The Psychology of Electronic Trading

When I first decided to leave my corporate life of 10 over years and to trade on a full time basis from home, I just had to make sure I get the most sound advice from professionals who are trading for a living. Fortunately for myself, a very dear friend of mine and her husband are professional traders for a long time. They shared tips with me and I was given this great book "The Psychology of Electronic Trading - The Power to Trade" by Brendon C W Seeto. This book did touch a little about the market, fundamentals and technicals of trading but the key essence is about our mindset and approach to the market. How interesting it is to see that while there are alot of technical skills to successfully trade in any kind of market....the enemy is really "OURSELVES".

Each of us are of different personality, some could be compelling gamblers going for short term thrills, others could be in the long haul for investing purposes and YES, the common ground each of us have is to achieve financial gains from the market. BUT, the key to successful trading lies in two major areas : 1) our trading method/knowledge, etc AND 2) understanding and controlling of our own personal self.

There is no thrill involved here and basically, I have no emotional attachment towards the market. I find that we need to really understand ourselves and not let our emotion take control of our strategy in trading.

Disclaimer : This is not intended to be a forex trade recommendation or signal. There is also a time lag between placing my personal trade on the forex market and this blog post. I will frequently check on the open trades to see if I will continue to hold the position and will update my positions in the forex market according. Following the trades is strictly at your own risk and I do not hold any responsibility over the outcome of your trade.

If you are seeing this post ONLY, it means there is

NO OPEN TRADES as all have been closed to either WIN or LOSS,

OR I've not updated any new ones.

Disclaimer : This is not intended to be a forex trade recommendation or signal. There is also a time lag between placing my personal trade on the forex market and this blog post. I will frequently check on the open trades to see if I will continue to hold the position and will update my positions in the forex market according. Following the trades is strictly at your own risk and I do not hold any responsibility over the outcome of your trade.

About Me

An "unwilling" bean counter by profession, I gave up my ten over years of corporate life in early 2006 to pursue my interest - trading. There were doubts whether I was going to be the 95% of traders who failed but it did not stop me from persevering on. I am glad I stayed on with my decision to trade forex (and other stuff!!) from home and I am enjoying every minute of it!

Let me share with you my forex trading journey and hope that this humble blog is able to provide some resource for those who are interested in trading forex to get started, as well as sharing of ideas with fellow traders out there.

Left panel shows the blog contents (like a site map), featuring some basics about forex market, include resources such as fundamental and technical aspects of trading forex, lessons learned, personal trading journey and trade journals, and finally, forex tools, education and strategies that have helped me in my trading.

This blog is kept simple and easy to follow, and mainly serves as a guide to help anyone who is interested in trading the forex market, especially beginner traders who want to start but not sure where to begin.