20k given to me as business start up: need help

[stronghand]

Ruf,

Dont believe the talk, cautious trading is a good thing. It is almost impossible to stay profitable over the long run if you are not cautious. Obviously there are many different levels of caution, but the first priority always has to be "PROTECT YOUR CAPITAL".

The way you worded it was a little different. You said basically that if a system stays profitable for a long time it is probably a good system and not luck. I totally agree. My original comments were based on reading that a system is not luck if it takes a long time to become profitable. I disagree with that comment.

Trading for a year? It takes time. Is that trading most days or a few times a month? I hear people say they have been trading for 10 years, but they actually only make a few trades a year. At that rate it will take a lot more time.

I also ask what they do when they are not trading. If I am not trading, I am thinking about trading, reading about trading, etc... I think they call that obsessed?

I have been profitable for a long while. But I have not taken it to the next level yet. That will come soon. Its tough to leave a job I have been with since 91, with a company that pays well, leaves me alone, and generally does a decent job taking care of me. I just need to get over that mental hurdle and its hard when you have a big family and are the sole supporter. But it is coming soon!!!

[Rufanuf]

Stronghand,

I have been experiment with a few different things on a live account. I started of trading quite frantically, then got down to may 3 or 4 trades a week aiming at 10 to 30 pips a trade. But I feel my best progress is being made with highly selective trades that I may only execute one or two a week but going for 100pips and more (if Im lukcy enough to get in on a solid trend)

Im working with the YANS system posted by SR2 on the beginers forum. Im finding it suits both my cautious style, and my basic belief that overtrading tneds to burn out trader and account if things are going badly.

Like you have to admit to being a little obsessed with trading at present. My main reason for this is that I have a large lump of capital, and if I can get to making say even 4% a month Im gonna be a very happy chappy! Considering one trade can yeild 5% (on the leverage/risk I feel comfortable with) things are promising...its just that as I expect you know....a great deal of decipline and paitence are required to start making your dreams come true.

Sounds to me like you should be taking the plunge!!!


Ruf

[stronghand]

Originally Posted by Rufanuf

Sounds to me like you should be taking the plunge!!!


Ruf

I will soon. Just have some loose ends to handle first.