by alirob on 04 Oct 2009
Hi All:
I to would like to earn like a professional, however I just don't have that market knowledge yet.
I started my first ever trading account 7 days ago with $50 US and started trading Monday morning. By Tuesday I was up over $1800 US. I was really excited, but greed got in the way.
Wednesday I was down to $10 US. So Here is my new strategy until I learn more;
1) Only use an amount of money you can afford to lose, such as $50 or $100 to start. See where that takes you.
2) Stick with solid currency pairs like EUR/US or GBP/US.
3) Decide on a minimum balance that you want to have in your account at all times.
4) Use a lower risk level so that the stop/loss doesn't affect you as easily.
5) Fridays, cash out whatever amount is above your minimum amount as your profit.
6) Start all over on Monday.
7) Have Fun!!!
Regards, Rob
alirob@log.on.ca