November 18, 2010
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The methods and knowledge I have gained at this forum from TRO, MightyOne, dragon33, and es/pip have lead me to be profitable. Thank you for sharing your very helpful charts and ideas!!!
I have put in a healthy 5 figures into my Forex "tuition" which I have now finally started to recover in recent months. However, I believe if I started a thread that had a continuous record of my goals, I would boost my success by leaps and bounds.
Because I am an avid poker player and used to be a heavy gambler, occasionally I run across a day that I by mistake let the gambler side of me take a trade which inevitably leads me to be a boom-and-semi-bust trader. I've quit gambling for a while now so I can fully sharpen my trading skills, and I believe having a thread will in a sense force me to place trades by my rules, not random trades just to get action.
I only have a few simple rules that need to be posted...the rest is in my head.
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1) Achieve 10-20% daily utilizing MAX leverage (50:1) on each trade.
-Once I hit 20%, DO NOT let account balance fall below 10% profit. I can continue trading as opportunities come in.
-Keep 20% daily profit in account. Excess $$$ can be withdrawn for bills and FUN.
2) MAX DISASTER S/L of 20 pips. If entry forces a bigger S/L, DO NOT TAKE IT. Wait for a better price.
-Stop trading for the day if you have 3 consecutive STOP OUTS.
3) TRADE WITH MOMENTUM.
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Every trade I place I will post. After I exit the trade, I will post an updated chart along with total pips and % GAIN/LOSS due to the trade. At the end of the trading day (12:00am CST), I will post a screen shot of my account to keep track of my balance. I use OANDA to place trades and MT4 for charting and signals.
Ultimately, I want a six figure account. Then, I have a plan to make 7 figures every year...who needs 6?
I'm about to make this s**t happen.
FILTHY RICH FOR DIRT CHEAP!!!
