A real Trader's Tips

[jgerousis]

Where shall I begin? Why it took me so long to write this tip, leave it to last. Sth so important? It is not procrastination - no. it’s not insecurity. It is fear. Fear of writing a tip which may lead the trader on the wrong path to his search for the much coveted Trading for a living. No fault of mine. It is ANGER!

Last monday, I was hungry, so I thought I would go down and buy a sovlaki from the shop around the corner, on my way to a seminar. When I got there, and put my hand in pocket, a CENT fell out from my pocket, on the street.

Now here's the delimma. Since I hate throwing away money, even if it is a cent, I wanted to bend down and pick it up. But, would I risk the only button in my trouser to pop up and lose it? Provided that night I have a very important lecture/seminar for fellow business/traders where I wanted to explain some TA's for them? And thus staying the whole seminar, one hand on the blackboard and the other holding my pants? Or just leave the cent and let go?

This is exactly what happens in real forex. You lose some pips in your account. You try to get your losses back, by risking your money, and by trading not according to your rules, but according to your anger. Then you will be risking your WHOLE account.

So Today's tip is "ANGER". Don't get angry at your losses. Losses are part of the game.

Lastly, everyone wanted to know why I have taken so long to write this tip, simply:" it was the weekend!"

[MickMason]

Originally Posted by jgerousis

Where shall I begin?

jgerousis, please can you explain the following post of yours, http://www.moneytec.com/forums/f14/how-beat-forex-market-22010/page3.html#post220962 and answer the questions raised.......

Originally Posted by jgerousis

I knew someone who assumed that GBPUSD will go up tomorrow. He bought 10 whole lots of GBPUSD. You know what happend? He lost 100,000K in one day. He blew his account

You say someone you know bought 10 lots Gbp/Usd and lost 100,000k in one day? Did you mean 100,000K as you wrote or 100k (assuming you know the difference of course).

Are you referring to US dollars because if you are that would mean Cable (Gbp/Usd) dropped 10 cents (1,000 pips) in one day which is highly unlikely, and even more unlikely is that he didn't have a stop.

Is this just another example of your wild imagination, and by quoting such ridiculous figures just another demonstration of your total lack of trading experience and understanding of the forex market?

Please explain.

[golhuntsleep]

Geez....my 12 year old could write that "tip" How about this tip......I don't care if it takes you the rest of your life, study and learn the Natural law of Fibonacci.....why is phi and Phi so important and how and why does the currency move in relationship to it? Theres the best tip anyone on this site will ever get......

[ohioguy]

I thought I was get some sort of new insight when I saw the thread title, but then I read the actual tip. Avoiding Anger ... Isn't that pretty obvious?

[MickMason]

Originally Posted by jgerousis

a CENT fell out from my pocket, on the street.

I wanted to bend down and pick it up. But, would I risk the only button in my trouser to pop up and lose it?"

Picking up money off the street is probably a big part of your life so can I suggest maybe a few less sovlakis, a larger pair of pants, and get some exercise!

[jgerousis]

Originally Posted by ohioguy

I thought I was get some sort of new insight when I saw the thread title, but then I read the actual tip. Avoiding Anger ... Isn't that pretty obvious?

It does seem obvious. However, when you come to apply it in real trading, one seems to forget this.

Many newbies say, yes, I won't be angry, no, but when they lose, they lose their temper too.

This thing has to be mastered and practiced to be able to accept the losses.

[WhipsawFX]

A real traders tip

Ignore this thread and Spammers website

[jgerousis]

Originally Posted by WhipsawFX

A real traders tip

Ignore this thread and Spammers website

Look who's here!!

Oh Oh No one is listening to you!!!