Risk Warning: Our service includes products that are traded on margin and carry a risk of losses in excess of your deposited funds. In order to settle this discussion they made a bet: they would recruit a few inexperienced people for their trading company, C & D Commodities, teach them the rules of the system they already used, give them capital to trade, and then see if they had become good traders or not.
Systems do not work all the time – A system is not the holy grail and will have losses too, a trending system in a ranging market will not work, conversely, a ranging system in a trending market will not work but no matter what, you should keep following your system rules to track it’s performance under various market conditions.
The average home forex dealer puts $10,000 in someone else’s bank account with the slenderest understanding and blows the lot in a month, three if they are lucky, and the reason you don’t hear about it is because they are too embarrassed to tell anybody.
It is currently the moment to earn space to your really feel”, to suit your expanding belief of feeling the marketplace”.Your emotional weight should now come to be an accepted will certainly quickly discover the best ways to readjust this mix” in a manner to achieve the optimal trading performance.
Remember, to make an AVERAGE income of $250 a day from a $10,000 account – as you say above is possible – means that one would make 2.5% per (trading) day: which is equivalent, with compounding, to over 60,000% per annum (given a tad over 250 trading days in a year)!!!
It’s good that you’re aware of your time zone, and you should always factor that into your trading: what scheduled news announcements occur around that time, what is the general liquidity in the currency pairs your trading likely to be during the time of day that you will be trading and so on.