In the early morning hours of November 9, it became apparent US voters had decided to once again to make capitalism the ism they wanted for the country. I decided to start my 3rd and final business.
My new business is the least complex business I have ever run. I buy and sell money. I have only 2 decisions to make. Up or down. I have a 50% chance of being correct regardless of choice. I don't have irate customers, suppliers, sub contractors, bad weather, time constraints, inspections, insurance audits, IRS hassles, OSHA, ect., ect. to deal with.
I have traded bout 5 years. I have made every mistake one can make -- many times over. I have opened 3 accounts. First one with $11,000. which I busted in 9 months. Made some -- lost some. First key to the puzzle was finding a style that fit my personality -- scalping. What I do. Last piece was help form a friend here at FF, Stu Effex, who is a very profitable scalper. He educated me on basic scalper attitudes. I am still filling in the middle of the puzzle. 2 of the 3 accounts have been closed. Only one open was a practice scalping account with a balance of $135.46.
THE PLAN
Start with $135.46. Plan to run 2 years or 99 weeks -- 5 weeks for vacations. Goal is to increase account balance 3% per week. I will add $50. per week ($100. every 2 weeks) to build my business. I currently trade 1 pair kiwi/dollar. My long term goal is to have a $30,000. account balance at the end of the 2 year period. Will reevaluate goals at that time.
I trade on a laptop and Ipad. I will post most trades as they are recorded as I still work part time and am a full time grandpa to 3 wonderful (naturally!!) little boys. I will post actual results (FXCM copies) quarterly.
I am not a good trader. On a scale of great to idiot, I am a low mediocre. I have no plan, no system and no grail, holy or unholy. I observe a few ma's, candles and trend lines. I try to go brain dead, look at the N/U chart and determine if it's going up or down.
My trade settings are set to take profit at 12 with sl at 21 -- all adjusted to fit the trade.
I always use a sl.
I always wait at least 60 minutes from close of one trade to open of another.
I trade high risk. Example: $1000. account @75% = $750. divided by 240 (margin) = 2.3 or a lot of $23,000. which yields $2.30 per pip. This is set every weekend and used all week. I only count pips -- not money.
I run my business for only 1 reason -- to make a profit. I don't offer advice -- I ain't look'in fur none.
Join in if you wish -- just keep it simple and plain spoken -- I'm a simple man.
My new business is the least complex business I have ever run. I buy and sell money. I have only 2 decisions to make. Up or down. I have a 50% chance of being correct regardless of choice. I don't have irate customers, suppliers, sub contractors, bad weather, time constraints, inspections, insurance audits, IRS hassles, OSHA, ect., ect. to deal with.
I have traded bout 5 years. I have made every mistake one can make -- many times over. I have opened 3 accounts. First one with $11,000. which I busted in 9 months. Made some -- lost some. First key to the puzzle was finding a style that fit my personality -- scalping. What I do. Last piece was help form a friend here at FF, Stu Effex, who is a very profitable scalper. He educated me on basic scalper attitudes. I am still filling in the middle of the puzzle. 2 of the 3 accounts have been closed. Only one open was a practice scalping account with a balance of $135.46.
THE PLAN
Start with $135.46. Plan to run 2 years or 99 weeks -- 5 weeks for vacations. Goal is to increase account balance 3% per week. I will add $50. per week ($100. every 2 weeks) to build my business. I currently trade 1 pair kiwi/dollar. My long term goal is to have a $30,000. account balance at the end of the 2 year period. Will reevaluate goals at that time.
I trade on a laptop and Ipad. I will post most trades as they are recorded as I still work part time and am a full time grandpa to 3 wonderful (naturally!!) little boys. I will post actual results (FXCM copies) quarterly.
I am not a good trader. On a scale of great to idiot, I am a low mediocre. I have no plan, no system and no grail, holy or unholy. I observe a few ma's, candles and trend lines. I try to go brain dead, look at the N/U chart and determine if it's going up or down.
My trade settings are set to take profit at 12 with sl at 21 -- all adjusted to fit the trade.
I always use a sl.
I always wait at least 60 minutes from close of one trade to open of another.
I trade high risk. Example: $1000. account @75% = $750. divided by 240 (margin) = 2.3 or a lot of $23,000. which yields $2.30 per pip. This is set every weekend and used all week. I only count pips -- not money.
I run my business for only 1 reason -- to make a profit. I don't offer advice -- I ain't look'in fur none.
Join in if you wish -- just keep it simple and plain spoken -- I'm a simple man.
Defending Truth, Capitalism and the US Constitution