Mysticforex

GBC/CHF... entered when I saw obvious upward movement,, exited @ Daily Pivot. I will be watching again tomorrow, A close above 14800 is significant.

Leave your ego at the door. This is not a contest, you do not have to be the best trader in the world. You want consistency.

I'm not even a good Drain Surgeon . . . :doh: But we digress.

I am not implying that it is. Just that it is a profession, and any well paid profession requires time and work. Does anyone know how long it takes to become an airline pilot? Reach the skill level required to pilot a 747? Captain a Super Tanker or cruise ship? ( I am also a licensed captain so I actually do know this one ). Lawyer ? You get the point.

Just my opinion... 3 pip spread on E/U sucks.

Very good point. Preferably 2 solid reasons. And don't short change yourself, let the profit run. You will need that profit to offset future loss's

You have hit upon a key which I hoped someone would bring up.... ADAPT

My wife is a doctor, we married in college. I saw her complete 14 years of post high school education. She is also highly specialized. There is a lot to be said for specialization.

You got that right! Just when you think you have it figured out, it slaps you in the face.

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This thread will share lessons learned during years of painful trading journey that saw several ups and downs but finally got its destination. The objective is to help retail traders struggling in this endeavor. Something simple, yet hard to learn and practice is Patience. A doctor is usually thought of as having a good income. Yet it takes years for a doctor to reach a six figure income after leaving medical school ( with tons of debt in most cases ). And it's not something once achieved you can forget about. Practice patience everyday.

Bob was in trouble. He forgot his wedding anniversary. His wife was really pissed. She told him "Tomorrow morning, I expect to find a gift in the driveway that goes from 0 to 200 in 6 seconds AND IT BETTER BE THERE !!" The next morning he got up early and left for work. When his wife woke up, she looked out the window and sure enough there was a box gift-wrapped in the middle of the driveway. Confused, the wife put on her robe and ran out to the driveway, brought the box back in the house. She opened it and found a brand new bathroom scale. Bob has been missing since Friday.

A policeman strikes AFP photojournalist Patricia Melo during the Portuguese general strike in Lisbon March 22, 2012. REUTERS/Hugo Correia

@Fatechaser... Until a member has 5+ ( if memory serves ) posts, each post must be read by a MOD before it appears on the board. I see you now have 6 posts so they should appear right away. If you have a problem, send a PM to a Moderator and they should clear it up.

Hi Tradersone and welcome to TL !!! Remember. all work and no play make Jack a dull boy......... What methodology do you use in your forex trading? Were you able to carry anything over from stocks, options?

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After last week end's election in France, where the incumbent Sarkozy finished poorly, many were expecting the euro to weaken. Such was not the case, and to the chagrin of a market loaded with shorts, the euro worked higher. Uncertainty, something markets hate, remains, as we work our way to the final May 6th date for the run-off election between Sarkozy, and the socialist Hollande. There will be a two hour debate May 2nd, which may be quite important for Sarkozy. He is reputed to be a superior debater so this may decide the election outcome.

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Rednecks contd..................................................................................

Rednecks contd.....................

Apparently Rednecks are international. Asian Rednecks.

I am a dynamic figure, often seen scaling walls and crushing ice. I have been known to remodel train stations on my lunch breaks, making them more efficient in the area of heat retention. I translate ethnic slurs for Cuban refugees, I write award-winning operas, I manage time efficiently. Occasionally, I tread water for three days in a row. I woo women with my sensuous and godlike trombone playing, I can pilot bicycles up severe inclines with unflagging speed, and I cook Thirty-Minute Brownies in twenty minutes. I am an expert in stucco, a veteran in love, and an outlaw in Peru. Using only a hoe and a large glass of water, I once single-handedly defended a small village in the Amazon Basin from a horde of ferocious army ants. I play bluegrass cello, I was scouted by the Mets, I am the subject of numerous documentaries. When I'm bored, I build large suspension bridges in my yard. I enjoy urban hang gliding. On Wednesdays, after school, I repair electrical appliances free of charge. I am an abstract artist, a concrete analyst, and a ruthless bookie. Critics worldwide swoon over my original line of corduroy evening wear. I don't perspire. I am a private citizen, yet I receive fan mail. I have been caller number nine and have won the weekend passes. Last summer I toured New Jersey with a traveling centrifugal-force demonstration. I bat 400. My deft floral arrangements have earned me fame in international botany circles. Children trust me. I can hurl tennis rackets at small moving objects with deadly accuracy. I once read Paradise Lost, Moby Dick, and David Copperfield in one day and still had time to refurbish an entire dining room that evening. I know the exact location of every food item in the supermarket. I have performed several covert operations with the CIA. I sleep once a week; when I do sleep, I sleep in a chair. While on vacation in Canada, I successfully negotiated with a group of terrorists who had seized a small bakery. The laws of physics do not apply to me. I balance, I weave, I dodge, I frolic, and my bills are all paid. On weekends, to let off steam, I participate in full-contact origami. Years ago I discovered the meaning of life but forgot to write it down. I have made extraordinary four course meals using only a mouli and a toaster oven. I breed prizewinning clams. I have won bullfights in San Juan, cliff-diving competitions in Sri Lanka, and spelling bees at the Kremlin. I have played Hamlet, I have performed open-heart surgery, and I have spoken with Elvis. In between that I place a couple of trades, all winners of course. 100% of Fact.

I am not knocking MB, they have a solid reputation. Just didn't want mis information out there. Yes, one could "hedge" by having 2 accts at any broker. Like you, I have never been big on hedging. I used to consider myself a decent mid term trader. By mid term I mean 3 days to 2 weeks. While the trade was open I would scalp ( in the direction of my analysis ) . Now, with FIFO, I just scalp. I'll take another look at MB and see if they offer a demo. See if the cost averaging would work to better advantage for me. When the Rules change, we change. We adapt.

For basic information on how international currency flow works try here: International Capital Flows: The Concise Encyclopedia of Economics | Library of Economics and Liberty For speculative positioning I only know of the COT report. I would be interested in another source if someone can suggest it.

These are some of the US data releases I try to stay aware of, meaning, I won't place a trade 15 min before or after. I never try to guess what impact positive or negative news will have on the market. NFP ADP Non-Farm Employment Change Unemployment Claims ( weekly report ) Core CPI m/m Retail Sales m/m Building Permits Existing Home Sales New Home Sales I also follow some GBP releases. I am a spot Forex Trader. stock, futures, commodities traders might find some other releases interesting as well.