In The Beginning

Before I begin, let me state for the record, finally, after 14 years of trading.....I finally get it.  I am actually starting to make money.  But it took blood, sweat and tears...literally, to get to this point.  I must have lost over $100,000.00 of my hard earned money by thinking I can trade stocks, futures, forex or whatever else I can push a button on to buy or sell.

Let me continue my rant and rage by saying this; I find it amusing that regulators continue to debate about casinos, online poker and any other gambling activity. No one considers online trading a devious, shady, lower than scum way of making money, like they do if you say you play poker.  In fact, people brag about trading thinking it makes them look sophisticated and intelligent.  People do place you higher on the food chain if you say you're wheeling and dealing on Wall Street.  Maybe that should be the case if you are profitable.  I mean lets face it, anyone can push a button to get in and out of the market.  It's just as simple as playing a slot machine.  And that's exactly what you're doing.  That said, it's the biggest form of gambling, in terms of dollars won and lost, and no one blinks an eye.  Its been an accepted way of life forever.  Millions of people have lost everything they've owned, and them some. But Heaven forbid we get one craps table in our town.   

A few months ago, gold was falling from the sky.  At $100.00 per point, I thought maybe I can make 2 or 3 points going short and then go play golf.  Before I can scratch my ass, I lost it.  In the blink of an eye, after I got in, gold shot up 9 points.  I lost $900.00. To many, 900.00 is not a lot of  money.  To me, it is.  I can deal with it, but at least give me a little enjoyment, a little drama, a little excitement, something.....nothing...A realized loss of 900 before I nuked some coffee.

So they say (they probably being the guys you lose to) "the money you lose, is worth the education you gain".  So where's my Doctorate? Must be in the mail.

Moving on and 14 years later, I think I got it.  My trades are working out approximately 85% of the time.  If they dont work, its because I did a silly trade.  A trade that I did just for the fun of it, I was bored, or I was getting antsy.  The good trades are trades I wait for.  The one's that come to me.  Per currency pair, I may get one or two trades PER WEEK!  When I do get in, depending upon the time frame, it will be good for 20-300 pips.  The longer the time frame, the more pips I will expect. Example:  Using the one hour chart, I can expect a move of up to 300 pips.  If I'm using a 5 minute chart, maybe 20-30, etc etc.  This is not scalp trading.  I look for a short or long term reversal in trend.  I buy low, sell high.  I can see the set ups coming and can approximate when it will occur.  Until then, I try to sit on my hands.  Sometimes tough to do, but when done, my account grows.

Moving forward, if you want to follow my trades, feel free.  I will not share details with anyone as to the method to my madness.  I am not an academy or some instruction guru who will ask 5 grand for my expertise. So please do not ask. It is just too consuming to reply to everyone's questions. Just follow and profit.  Let me know if you have taken the same trade(s) and what your outcome was.  Each call will be published in a new blog entry.  Please subscribe so I know my entries are at least being read.  If not, I will discontinue this blog.