Well, last Thursday taught me some hard and painful lessons that I will definitely remember for a long time. I'm glad I made these mistakes before I tried to trade forex full time and while I have gainful employment. Here are my lessons I learned:
1. I like charts and analysis. I have developed an ea that I am comfortable with that trades .1% of my account equity at any time. It backtests great and if I hadn't messed with it, then I wouldn't have lost 80% of my account on Thursday. Lesson: Don't mess with the system!
2. Last Thursday I shut down all my trades so I could trade the "sure thing" of the NFP. Lesson: There is no sure thing!
3. And one more lesson: I am NOT going to be a news trader!
This is really more for my documentation that discussion, but I welcome your comments.
rosieposie
1. I like charts and analysis. I have developed an ea that I am comfortable with that trades .1% of my account equity at any time. It backtests great and if I hadn't messed with it, then I wouldn't have lost 80% of my account on Thursday. Lesson: Don't mess with the system!
2. Last Thursday I shut down all my trades so I could trade the "sure thing" of the NFP. Lesson: There is no sure thing!
3. And one more lesson: I am NOT going to be a news trader!
This is really more for my documentation that discussion, but I welcome your comments.
rosieposie