Opinions about my learning curve

[islandtrader]

Greetings to all forex traders and forum participants! I am new to this exchange and I am seeking opinions about my approach to the exciting world of forex trading.

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I have traded stocks and futures for many years with a fair degree of success. I followed the legendary Larry Williams approach to short term S & P trading back in the mid 90s and attended one of his live trading symposiums in Vegas.

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Although I was successful financially, I was consumed by the markets and had extreme emotional highs and lows as the markets went in and out of my favor. My wife noticed a change in my personality and I believe that I ultimately embraced a gamblers mentality. I hung up my charts when I gave back $42,000 one afternoon.

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I am looking explore various trading options until I secure an approach suited to my personality. I have read everything that I can get my hands on and determined that it is very difficult to get honest, straight forward information outside of a free exchange of ideas such as this one. Just as in the futures market, there are simply more charlatans out there than legitimate players.

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I have decided to start out by subscribing to a service that embraces a simple mechanical approach to trading utilizing strict entry and exit points along with a well defined money management strategy. I have learned over the years, the more complex the system, the more likely that it was curve fit to back data and will ultimately fall apart. The name of the service is: Forex MHV, http://www.forex-mhv.com/.

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I plan on opening a simulated account and paper trading it until I feel comfortable with the system performance and my understanding of the process at which time I will follow up with a funded account.

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After trading this system for a while, I plan on signing on with a mentor program and learn a “hands on” approach as I improve my trading skills. I am looking at: Day Forex, www.dayforex.com. I got some good vibes about him through his literature and outside testimonials. I only hope that the onset of years since my last trading commitment has curtailed my impulses better. I certainly have more realistic expectations this go around.

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Please excuse my self indulgent blather. I am really looking for opinions concerning my approach to the market as well as any feedback of the services that I have outlined. I hope to exchange many useful ideas with the participants of this forum and hope to establish long and fruitful dialog with like minded Entraupanours. I thank anyone that has stayed with me this far and wish everyone a profitable and exciting journey.

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Islandtrader

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