Friday, September 24, 2010

First try at forex

There are many ways to make money, one is forex. I gave it a try and my success rate is through the roof.  The main reason for that is my no-stop loss 20pip method. It works and yest there are days when I think I should take the losses at several 100pips in the other direction. But as Einstein said, everything that goes up must come down. I traded trends an sometimes just gut feeling. Only small lots and the secret here is small. I tried to make $2-5 on a trade, so what if it is -200pips, we just wait. And yes soon enough its back. So I've taken the steps, small at first. Now I plane to have another account. So I can trade both ways and get more daring.

I have lost a fer hundred dollars but gained it again with only a few trades. The key is not to get emotional and my main fall-backs Greed and lack of knowledge. I know the USD/NZD pattern and its a constant up and down. Thats what you want as it will come back to where it is in a few days or weeks. Making a mistake dont have to cost you..

No comments:

Post a Comment