Whether you want to be CP in Discretionary, Hybrid or Fully Auto trading, there are challenges and achievements. However, the challenges and achievements are different in each case and a trader should, IMO, choose which road to go down on the basis of his own DNA, financial considerations and expertise.
Whichever you want to do, takes time to learn, just like going to university for any other profession. Doctors can take 10 years to get the needed skills. There is the famous 10,000 hours concept of achieving mastery.
Certainly, learning to do all this by myself did take at least 10,000 hours for mastery as a discretionary trader.
However, there are shorter roads. Specialization!
As a discretionary trader, one can find a single trading picture and gain mastery over that one particular setup. If mastery takes X amounts of time, specializing could take as little as 1/10th X.
If you become a hybrid trader and automate your entries then the time could be less, say, 1/20th X.
Going fully auto could reduce the time to, say, 1/35th X.
Of course the starting point for all of this is learning the basics of trading. I'll go deeper into each in the days to come.
The Euro was the flavour of the day. I had a little later start as I'm still sore from skiing over the holidays. Kiki was here and the daughter of a friend of Mrs EL and we had great weather and skiing. I'm about 20 minutes from a great ski area with miles of pistes.
Back to the Euro, all I had to do was pick my sell spots. It never looked like changing trend. And watching the trend is what it's all about.
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