About

11 Jan 2018

I’m a 56yo railway fitter living in Derby UK. I work shifts which allows me to day-trade on my days off. After 7 years I’m still not a consistently profitable trader, however I only trade 2 small accounts and have never added to the losses in them, being determined to win them back with the reduced capital remaining. I’ve spent much much more on books and courses than I have ever lost in those 2 accounts and I can’t say I’ve overspent on courses either. My accounts are with Oanda and IG and I trade the 5 minute chart of the forex pair GBPUSD using the 30 min and 2 hour charts for most of my higher timeframe views of the market. Even Al Brooks took ten years to learn to trade which gives me hope. After years of trying various charts and indicators I now only use the 20ema and basic time based candlestick charts. I seemed to have stopped my search for the perfect strategy over the past year and have settled down to trade price action. Best sources of education I would say to be Al Brooks trading course and books and Bob Volman books. Best source of inspiration, learning, psychology would be Rob Booker . Best trading blogs Shonn Campbell, Matt Lacoco and Brett Steenbarger. An interesting alternative market view is from Adam Grimes especially his learning methods. Biggest inspiration in early years came from Rob Wilson.

 

 

 

 

8 responses

  1. Hello Simon

    I stumbled across your blog via 10XROI Trading.

    I can see our trading careers have many things in common – except that I’ve bought a ton more books than you, have downloaded gigabytes more, and have previously signed up for far more courses, trading rooms, webinars etc, than I care to remember!

    Our lives have similarities too. I got into trading after my divorce left me without a house, and having “let go” of 70% of my private pension pot. It was while trying to trade my remaining SIPP pension back up to pre-divorce levels, that I signed up to a Traders University course (big mistake) and eventually got the Forex bug. That was June 2008, and I spent the next four years day trading Forex with little success.

    Late 2012 I began trading off the daily/weekly charts (just price action) which was a game changer for me, and today I am beginning to make visible progress. It was definitely a mind-set issue for me, as the few strategies I trade now are so simple, I could have picked them up easily within a few months of starting back in 2008 (if I had just got to “know myself” a bit better).

    Good luck in your trading.
    Dave

  2. Hello Simon,

    I studied Thinslice Method a few years back. With 1 on 1 support, so I paid a lot, devoting most of my free time to it and now I think the whole thing was a total scam.

    What do you think?

  3. Karo I will answer your comment, but am very busy the next few days. Get back to you.

  4. Answered your comment in my weekly roundup Sat 15 March 2014

  5. Hi fxoutlier

    Came across your blog whilst searching about the Martin Cole “How the Market Makers Extract Millions of Dollars a Day” book.

    I guess you are the same fxoutlier that is mentioned on Rob Booker’s Traders Podcast.

    I’m from the UK too (Wigan) and have had a terrible time trading FX – lost an absolute fortune and have realised it’snot the system it’s my psychology that is impacting my trading. I have been trading since 2009 and would have thought I had cracked it by now!

    I’ve been part of a few courses (Nial Fuller, Jonathon Fox and now Chris Capre) and have researched a few of those you mention – nearly signed up for the Sid Wyeman course.

    I’m still searching but coming to realise that I know enough about trading (support/resistance, indicators, candle patterns etc etc) that I don’t need another trading method – I need to sort my head out 🙂

    I have a load of books like yourself – I learn something from each one but have realised that none is the the ‘holy grail’.

    Anyway, off to the gym now but Il will have a good read of your blog – seems like we have a lot in common re trading.

    Not sure if you follow football but god luck to Derby today and hoe to see you in the Premier League.

    Cheers

    Paul

  6. what a great site!!

    1. Cheers Dan. Get very few comments here so when I do they’re much appreciated. It’s all a bit of a mess on here really but every now and again I make some changes and get it more up to date. Just getting over a hospital operation and so not with it at the moment and taking a couple of weeks rest from trading although am sitting making notes for some future blog stuff. Cheers Simon

  7. […] FXOutlier – This guy lives in the UK and wants to trade for a living. He is not a marketer and simply blogs about his experience in Forex. Give him some encouragement! […]

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