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Originally Posted by radicalmoses
PK,
Trading is psychologically tough as it is without even having a burden of trying to earn 400% returns? Maybe, that could be affecting the way you trade? Are you able to trade fine and make pips consistently?
I have never washed down any account so far as I have strict MM but it prevents me from making any serious money becoz I try and control my risk at all costs. Maybe that is a key reason why I am getting nowhere?
Would love to hear from you.
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It makes me laugh that you would love to hear from ME! Here I am in a mess and you want advice from ME! LOL
Anyway here goes - money management is very important as you say and without it you will be sucking eggs, but.... unless you have a decent SL, you will not makethe gains you need. I eroded my account badly, as you know. Then I came across a bloke who showed me a great momentum indicator. I read and read and read the system until I think I figured out a way of scalping 5-30 pips depending on news or time of day. It combines scalping news (my favourite) and also a lot of feel for the market. ( I am happy to share this info with you, just send me your email address. It is ALL FREE and nobody will ever ask you for a penny, so dont worry. Personally I would never pay anyone to show me a system unless his name was 'Greenspan'.
Withthis system I have sclaped my way back up from 50% down to 33% down. I can not say that it is the answer to everyones dreams, but it is a great help. I believe that with time and experience I can turn this system around to actually produce something. I also keep a close eye on news and EMA's. News is great for trading. Especially if you jump on just after the news is confirmed. I took 30 pips on Friday that way.
pk
