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Old 08-03-2005, 00:17   #8
naz9403
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Re: $73650 in 10 Days!! See the attachment

One huge problem that i've learned since my days as a newbie is money management. Highly highly underestimated. If you have an account under 1k, there is no way you should be trading with any other broker than . Simply because with $500 bucks, taking a few losses with trading 1 full mini lot, your on your way to ruin.
500 bucks i would enter 5000 units with for my first position trade, which equates to .5 of 1 full mini lot. Small yes, but if your analysis is wrong then you are only out a small amount and you can re adjust your analysis.
As far as robust systems, i too believe there are some but the true essence of being a speculator is pulling the trigger and looking back after you've made money and say, i've won and i've overcome fear and greed, used my knowledge and succeeded. To me that is the best feeling. After all money is not 100% of the game, the love to trade and to beat the market on a trade has to be there or speculating is not your thing.
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