Saturday, August 23, 2008

This week to remember


When the demo account becomes real, people becomes afraid and greedy, try to relax, don't take excessive risk and don't rush to make and lose money.

If you pay attention to money in this game, you will always be a loser. Don't let money disturb your decision.


one man--



I trained under a mentor for about a year. Learned his way and still use a lot of that but have added other things to create my own rules. I have actually taught him some stuff now. My final test before going live was 20 straight days of trading. 2 trades each day for at least 5 pips. No negative trades. I turned my 100K demo act into 183K. After that I went live. It is very different and I had a bad month (Mar '08) that made me question everything, so I took a time out (Apr 'o8) , got back to basics and have been good ever since then. Trading real money is hard until you can separate the emotion. Believe it or not, too much info can be bad. It is easy to talk yourself out of a trade. If you believe in the technicals, then stick with that and trade what you see. If you follow fundamentals, then you are in for a wild ride because of all the news and all the opinions and things getting "cloudy". I keep an eye toward the fundies, but stick with the techno side. An example is Tuesday night when everyone here was saying buy. I saw sell on my charts and grabbed 160 pips on the dip before the buy became a good move Wed night into Thurs. Just my 2 pips ....

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