Why I started the CFD Traders Edge
As a full time professional CFD Trader for over 8 years, I am kept very busy. I am a short term, high frequency trader (all manual trading, no bots etc), and so finding the time to set up the CFD Traders Edge website for fellow traders has been a real time challenge.
Others have asked me why I took on the challenge, and I've even had a disgruntled former colleague try to discredit my efforts, so I thought it was important to explain exactly why I set it up.
Trading can be a pretty solitary profession at times, and I think it's really important to build a vibrant, active community of like minded traders. It's something I have been hoping to develop for some time now, so it's very rewarding to see it coming to fruition with the CFD Traders Edge site.
When I first started trading I didn't really know where to start. I read books, I joined forums, I took in everything I could find on the internet. But although there was a plethora of information on charts, techniques and psychology, nothing could really tell me "HOW" to trade successfully.
It took me quite a while to actually realise that there were no definitive "HOW TO's" because there is no definitive correct way to trade the market. There are NO easy answers, there are NO gurus to follow who never made a bad trade, there was NO fail safe system....and I couldn't make thousands every week with just 20 minutes work whilst sipping fancy drinks with fancy umbrellas in them.
What there was however, was the opportunity to work extremely hard on honing my skills as a trader. Firstly by finding out what kind of trader I wanted to be. Then by working hard on researching and trialling different trading methods. Working hard on scanning hundreds of charts every night, and setting countless alerts. Working hard on sticking to my trading plan, and practicing to be disciplined with my trades. I also worked hard on building a network with other traders, so I could learn from them.
And these are the things I still work hard on now. Trading is a rare profession...I can't think of many others where, no matter how long you've been doing it, you still don't know what will happen next. You are still wrong often...and that won't change. Being wrong is an inescapable part of trading. I think more than anything else, if you can't get used to being wrong, and you can't act on it appropriately whenever you are...you are destined to FAIL. I guess that's another thing I work hard at...continuing to accept that I am often wrong!
From time to time I've been asked why I started this site... "What's in it for you Alan? If you're a successful trader why not stick to trading?"
Firstly I LOVE trading! Trading will always take first priority for me. It's my passion and my living and I don't see that changing for a while.
I also love the social aspect of trading, particularly as it by nature is such a solitary pursuit. Without a network of trading colleagues you are basically a hermit sitting in a room surrounded by monitors.
I also feel that maybe now I have something to give back to other trader's. Trader's that may be struggling with the same learning curve that I did when I first took off on this crazy journey. I think that if we can create a network of like minded traders, free from the ramping and the hype found in many free online trading communities, then we can all benefit. I am sure I will learn from other members, as some hopefully will learn from me.
I am no guru, I've been lucky enough to have some ongoing success in this field, but I think I work hard for that success. I don't want other trader's to blindly follow my trades. I'd rather help other trader's develop their ability and style, so that they are giving me the word on a great potential trade.
Those that follow my Twitter, hopefully follow it to pick up a few alerts that they can then consider based on their trading plan. Many of the alerts I mention I don't even trade. Some that I trade I may be already out of before you read my Tweet. I'm mostly a very short term trader, that's what I do...I often scalp stuff. Please don't buy anything just because I mention it. It's essentiial to learn to trade YOUR plan, NOT mine.
A colleague once suggested that I must be getting massive kick backs from the businesses who advertise on my site. I want to make it clear that I receive no trailing commissions of any kind. I am happy with the price and service my providers give me. I will probably look at paid advertising on the site at some stage.
So that's about it! I really look forward to sharing this trading journey with you all, and I am sure we can all continue to grow our success in a community with a focus always on Education, Preparation and Support.
Others have asked me why I took on the challenge, and I've even had a disgruntled former colleague try to discredit my efforts, so I thought it was important to explain exactly why I set it up.
Trading can be a pretty solitary profession at times, and I think it's really important to build a vibrant, active community of like minded traders. It's something I have been hoping to develop for some time now, so it's very rewarding to see it coming to fruition with the CFD Traders Edge site.
When I first started trading I didn't really know where to start. I read books, I joined forums, I took in everything I could find on the internet. But although there was a plethora of information on charts, techniques and psychology, nothing could really tell me "HOW" to trade successfully.
It took me quite a while to actually realise that there were no definitive "HOW TO's" because there is no definitive correct way to trade the market. There are NO easy answers, there are NO gurus to follow who never made a bad trade, there was NO fail safe system....and I couldn't make thousands every week with just 20 minutes work whilst sipping fancy drinks with fancy umbrellas in them.
What there was however, was the opportunity to work extremely hard on honing my skills as a trader. Firstly by finding out what kind of trader I wanted to be. Then by working hard on researching and trialling different trading methods. Working hard on scanning hundreds of charts every night, and setting countless alerts. Working hard on sticking to my trading plan, and practicing to be disciplined with my trades. I also worked hard on building a network with other traders, so I could learn from them.
And these are the things I still work hard on now. Trading is a rare profession...I can't think of many others where, no matter how long you've been doing it, you still don't know what will happen next. You are still wrong often...and that won't change. Being wrong is an inescapable part of trading. I think more than anything else, if you can't get used to being wrong, and you can't act on it appropriately whenever you are...you are destined to FAIL. I guess that's another thing I work hard at...continuing to accept that I am often wrong!
From time to time I've been asked why I started this site... "What's in it for you Alan? If you're a successful trader why not stick to trading?"
Firstly I LOVE trading! Trading will always take first priority for me. It's my passion and my living and I don't see that changing for a while.
I also love the social aspect of trading, particularly as it by nature is such a solitary pursuit. Without a network of trading colleagues you are basically a hermit sitting in a room surrounded by monitors.
I also feel that maybe now I have something to give back to other trader's. Trader's that may be struggling with the same learning curve that I did when I first took off on this crazy journey. I think that if we can create a network of like minded traders, free from the ramping and the hype found in many free online trading communities, then we can all benefit. I am sure I will learn from other members, as some hopefully will learn from me.
I am no guru, I've been lucky enough to have some ongoing success in this field, but I think I work hard for that success. I don't want other trader's to blindly follow my trades. I'd rather help other trader's develop their ability and style, so that they are giving me the word on a great potential trade.
Those that follow my Twitter, hopefully follow it to pick up a few alerts that they can then consider based on their trading plan. Many of the alerts I mention I don't even trade. Some that I trade I may be already out of before you read my Tweet. I'm mostly a very short term trader, that's what I do...I often scalp stuff. Please don't buy anything just because I mention it. It's essentiial to learn to trade YOUR plan, NOT mine.
A colleague once suggested that I must be getting massive kick backs from the businesses who advertise on my site. I want to make it clear that I receive no trailing commissions of any kind. I am happy with the price and service my providers give me. I will probably look at paid advertising on the site at some stage.
So that's about it! I really look forward to sharing this trading journey with you all, and I am sure we can all continue to grow our success in a community with a focus always on Education, Preparation and Support.
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