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Any FX traders here...


Neoburner
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I've been back from holiday a week and really do want to get into trading but not really had any time of late due to summer holidays....and giving up smoking has made my focus a tad erratic. I will be havign a good read over teh next week or two though and getting my arse into gear, i'm hoping with a bit of crypto trading and matched betting that i can get a bit of readies in the bank so i'll be starting with them rather than FX.

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It's actually quite fun, but it can also lose you alot so the main rules I stick too are:

 

1) Don't trade with money you don't have, stay away from savings, bonds, anything that you need to keep - Use money you think you dont have!

2) Strip emotion out of it - Don't get greedy,if you lose move onto the next one

3) Have a trading plan, and stick too it - 1 out of 5 profits are no bad thing if its consistent, your plan adjusts to this so you end up making money, even when you lose

4) Look after your risk, and the profits take care of themselves - This is the major one, do the math, its not too difficult to have a basic formula to work against, back to the win 1 in 5 above

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  • 3 years later...
On 7/28/2017 at 9:09 AM, Neoburner said:

It's actually quite fun, but it can also lose you alot so the main rules I stick too are:

 

1) Don't trade with money you don't have, stay away from savings, bonds, anything that you need to keep - Use money you think you dont have!

2) Strip emotion out of it - Don't get greedy,if you lose move onto the next one

3) Have a trading plan, and stick too it - 1 out of 5 profits are no bad thing if its consistent, your plan adjusts to this so you end up making money, even when you lose

4) Look after your risk, and the profits take care of themselves - This is the major one, do the math, its not too difficult to have a basic formula to work against, back to the win 1 in 5 above

So. How has tourntrading been going?

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