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Signals Review July 19~23, 2010: 600+ Pips Gain (Potentially)...

Discussion in 'Current Forex Trading Signals' started by Henry Liu, Jul 24, 2010.

  1. Boko Maru

    Boko Maru Sergeant

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    I'd really just echo the last post. Yes it's true with leverage and compounding it's possible to make an almost inconceivable amount of money trading forex, and it's a wonderful business. But the flaw in your thinking is that you are not taking into account when you LOSE. That $100 per pip works the same way to the bad as to the good, and it doesn't seem you've really considered that.

    It's easy to be giddy and floating on the clouds when everything goes well, but it doesn't always go well, and any trading methodology involves wins AND losses. If you don't believe me, ask Henry. As I'm sure you can see here, people are swinging from the chandeliers right now after a good week of earning pips. Nothing wrong with that; I've been there. But the danger is to assume that there will only be winning trades, no pain, and it will always be this easy. Trust me: it won't be. If it was, wouldn't we all be billionaires by now? Especially those of us that have been trading for a few years?

    Of course, I was told the same kind of thing when I started out, and I didn't listen; I had to learn the hard way. But if you can take at least some of this kind of feedback to heart, it will likely save you some heartache. There's some good advice in the post above by digital soul; I'd listen to it. Although not so sure you need to take 2 years demo trading first, maybe 6 months, but that's up to you of course...
     

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