Caution: Possible rambling article written after work ahead:
When I was at Axia, learning to trade in the Futures space, my mentor Reg [Rich Bailey] said something to me that didn’t quite register at the time. He said that the way you trade now won’t necessarily end up being the way you trade in the future, or words to that effect. At the time I was a raw newbie; a chart-following guy looking for simplistic reversals and swings and not realising until a while afterwards that this approach wasn’t for me at all.
As many of the people who are reading this (my family and friends especially) will know, I have autism and attention deficit disorder. I need to be mentally occupied at all times, but by the same token, being around people in an enclosed space for a long period of time is physically and mentally tiring for me. When working on the course, I found very quickly that the pace of thin markets such as the FDAX suited me, my personality and my attention span. I can’t bear the thought of waiting all day for a small opportunity and locking on to order flow makes me feel busy even at times when the market is printing. To that end, I was able to grind out reasonable results more often than not by looking for small momentum shifts within the ladder. It didn’t occur to me at the time that this perhaps could have been the ‘edge’ I was looking for. I made (and still do) a lot of round turns, but there’s nothing inherently wrong with doing that; the commissions are your own cross to bear and nobody else’s, and you need to take ownership of them – though this is contrary to what you’ll read in many places on the Internet; they may ‘hurt’ your end result but there’s no point in fighting against what suits you for the purposes of a perceived benefit of playing in someone else’s position because it’ll never work.
I have a working knowledge of technical analysis (as you’ll see from my Twitter postings and other articles) but it’s not what I’m about and it’s not necessarily what I enjoy doing every day. I guess the point I’m driving at (badly) here is that you need to find your niche and get the most out of it.