Well hello everybody and welcome to god knows will probably be an interesting journal. First off I would like to say if your looking for the kind of advice thats going to make you rich, you're probably looking on the wrong side of "Forex" Town. I created this thread because I figure that maybe I can meet some interesting people here, share some ideas, and hopefully learn a thing or two. Along the way I'll probably share my journey with you to let you know my progress. Plus I'm hoping that if someone figures out how the he-- this forex thing works, maybe you'll be nice enough to share it with me. You know "keep it in the family". So anyway, a little about me ... and how I got involved in the world of Forex...... We'll, some time ago .. I tried my hand at day trading. LOL..... yeah ... read a couple of books you know. I figured ... how hard can this stuff be. I'll just do everything the book sais and I'll Be Rich! Well uhh..... that didnt work out as planned, else I probably wouldnt have titled the thread "Noobs on a mission". Long story short I burned about $15000 in the matter of 3 months. By the way Tell those damn market makers(LEHM,GISCO,MORG, INCA) that I'll be looking for my money in the unemployment lines. Anyhow, after my first stint with Equities I stumbled upon forex while searching for a trading platform on the web, which would have been for my second attempt at equity trading. Needless to say, I gave it a try and I've been hooked ever since. I loved the fact that I can trade 24 hrs a day ... or do i ? :/ As far as forward progression goes......hmmm.....I've probably blown about few accounts so far ... ROFL. But yes... I'm still here. During my first run I blew about $1000. But had enough very limited + days to make me feel good and come back to get wiped out again. Now the second time around ... Was actually rather exciting for a good 3 months .... Lets just say ... I took $300 and turned it into $3000. Things were starting to click. ( Let me pop my collar) I was trading regulary and booking profits regulary. In my mind I was thinking .... man ... I'm really doing it. I'd say to myself, if I can turn $300 into $3000 , then I should be able to turn $3k into $10K ,$100k and ...well you get my drift. Then the unthinkable happened. I got pretty comfy placing my trades you know ... Had some success, but lack of experience and discipline got the best of me. One day ... when the US market had received some pretty positive news I decided that the Eur/USD was going to tank and figured ... well if this pair tanks ... its going to drag all the rest of them down with it..... right??? Plus, I was pretty confident so I decied to up the ante and throw about 1.5 lots worth of cash( you know using my large reserve s of cash $3k) at it among various pairs going short on the EURO in everyone of them. Yeah ... well lets just say ... I was wrong. In 1 day ... I blew my $3k that took me 3 months to build up. Which really wasnt a lot of time (damn Im good), but that was my hard earned money Go_ Dam_it. Anyway that was a pretty devistating experience, honestly. So this is going to be my journey back to a thousand. I would say a million, but at the rate I'm going, I'll be lucky to hit a thousand again. Anyhow .... heres a brief summary of my time back. I started a micro account( the first time I was on a mini) this time so that I would be forced to use better money managment and not overleverage myself. I put the bare minimum money in it, A whopping 25 bucks. I got in at the right time though because there was a promotion that gave me an extra $25 on top as a promo. I flipped that $50 into $180 in about 10 days. I discovered ForexFactory.com and through trying different techniques I had read about and hardley mastered ... I had managed to blow my $180 to $7 bucks on minis in 1 day ... here we go again. Last night I got my act together ... and figured I would go back to the basics.... and try to keep it as simple and fundamental as possible using longer term charts, entry orders, stop losses, a couple of MAs and Fib Charting and ohhh my last $7.00 . Thats how the pros do it right.. :/ ???? We'll I made a couple of hundred pips tonight. I'm back up to $30 bucks ... WOHOO. I felt like writing a book about it So ... thank god there are people out here like me else you wouldnt have anyone to steal from. So now that you read about my pathetic forex journey, I'll try keep my entries shorter. Maybe you and I can actually get something out of this . I'd love to hear others more intriguing stories. Lets make some money and have fun doing it. See you on the other side.
Ryquade
Ryquade