Trade update #2 - Profits & Mistakes = Less Profits (10Kto1MM)

Trade update #2 - Profits & Mistakes = Less Profits (10Kto1MM)

There is currently a Live trade on but I'm not in it due to a cock up on my part.

Stick to the system, Dont faff around with it. Follow the plan...Important lessons learned today.

Category:

Education

Tags:

• Forex
• 10kto1mm
• currency trading
• Spread betting
• FXCM
• FxPro
• Henry Liu
• News profiteer
• Trading
• trading system

[JMowery]

Following the system: It's the thing that will test your nerve and sometimes make you want to throw your computer out the window. I would know. =P

Also, stop losses are truly a test of mental steel. They did plenty of damage to my accounts in the beginning. That's the issue of being on a budget — it forces you to want to protect your money against anything.

What currency pairs are you trading? Do you follow a certain set or does the system analyze all of them?

[Kevlogs]

@JMowery Hi JM.

We'll be trading all kinds of currency pairs although I think Yen crosses are going to be the main ones.

The system is Fudamental/sentiment based with a littlebit of technicalanalysis to refine the entries/exits.

The trades come via a signal (sms message) and also explanation of the trade in the members area...

This vidoe diary will be my experiences of it and if it works out I'd recommend joing in too....Keep tuned.

Kev

[westmids11]

you don,t need me to say it but i will that,s how we learn from our mistakes

any way  looks like we,re still on for those burgers chin up kev mate you do look nackered mate .

[Kevlogs]

@westmids11 Busy week at work..lol.

Burgers sound good  ;)

[8thumbs2fingers]

A lot of what you just said dissolved my brain ( not that I had much of a brain to start with ) ... But glad you made a gain and not another loss ;-)>

[Kevlogs]

@8thumbs2fingers LOL... It's actually quite straight forward when you learn the terminology.

Just look at the colour of the annotations to get an idea if update is good or bad...lol Red is loss Green is win ;)

[Kevlogs]

@FenderGibsonWashburn Ironically if Id just have stick to the plan those profit figures would now be nearly 3 times that and climbing....lol.

It's all part of the learning curve and to be honest I've been adivsed that there will be many many more trades to come that will make up for this missed one.

[FenderGibsonWashburn]

Sounds like some lessons have been learned my friend. This stuff is all foreign to me so I find it fascinating.