1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Idiot schemes for making money.

Discussion in 'Forex Trading Systems and Strategies' started by ChrisEccles, May 10, 2009.

  1. ChrisEccles

    ChrisEccles Private, 1st Class

    Joined:
    Feb 13, 2009
    Messages:
    47
    Likes Received:
    0
    It is theoretically possible to open a €2,000 mini account and become
    a millionaire in twelve trades. Anyone with third-grade math can work
    that one out.
    -
    The real world is a little different.
    -
    If you went to Catford and backed the winning dog in every race on
    the card, you'd also be a millionaire, but if your Auntie had balls, she'd
    be your Uncle. IF is the most dangerous word in the language.
    -
    Slow and steady compounding of a trading account is the ONLY way that
    your wealth will remain commensurate with your skill. Unless you are a
    complete moron, your skill will always become better, not worse, as you
    explore and understand the effects of your mistakes. When I began with
    my demo some eight months ago, my ability to place a successful trade
    was abysmal. It is now, whilst nowhere near perfect, at least approaching
    what could be called decent.
    -
    Losing trades must never, ever, threaten your equity. The whole "twelve
    good positions in a row" school of thought keeps brokers rich and traders
    destitute.

    -
    Chris
     

Share This Page