This isn't my first time diving into trading... far from it. I'm actually probably on version 3 or so by now. Each "version" is a major restructuring (and hopefully improvement) of what I've done in the past. I try to take a step back and self-analyze my own trading activity, taking note of problem spots that need work.
In this round, I've concluded that I need some ground rules I can refer back to. There will come times where I'm distracted and venturing off into new and exciting initiatives. But if they are not aligned with my bigger goals and aspirations, then the timing is not right to be looking at them. I need to establish boundaries and constantly keep guard on my focus. As a person who struggles with ADD, I think this is going to really help:
- Open-source development
- I'm a strong proponent, so investing in closed-source would be strongly contrary to my beliefs
- I strongly believe in collaborative development
- I believe that it is not possible to saturate forex market with any particular trading style
- In other words, I'm not afraid to share secrets/ideas with others
- I believe others will contribute ideas that help me excel, and vice versa
- I'm completely uncomfortable with closed-source robots
- No way to fully understand their workings
- No way to fix or improve them
- Not a good prospect for long-term success
- I'm somewhat uncomfortable with closed-source indicators
- I should consider these as a last resort only
- Make my own trading decisions
- I strongly believe that allowing other people to manage my money is a dead-end road
- I believe that I must learn myself how to handle my own money if I am to excel in the long term
- I should develop my own trading strategies, even if it takes longer to excel as a result
- I believe that the best trading strategies would be personally discovered and developed by myself
- Any system that does not allow me complete understanding and control of trading decisions should be avoided
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