Pippy5000
I lost about $6,000 when I first started and it really irritated me.. So I stuck with it out of pure spite and hatred for trading, traders, forex, currencies in general and most of all trading web sites. I'm a career trader now. Been trading since 2004. However, I suck passionately, don't listen to anything I say. I would tell you to do the opposite of what I do, but by doing so I would be giving you trading advice and that advice would be bad advice. Does that mean that you should do what I do? No, and yes.. My mere existence constitutes a paradox capable of tearing apart the space/time continuum.
I knew that I wasn't cut out for currency trading when I attempted to trade $1,000 into GBP at Heathrow Airport and was margined out of the deal at the change kiosk.
While I might not be much of a trader I'll tell you that I've created an absolutely impressive closet/refuge decked out with the latest in motivational kitten posters "hang in there baby" etc.. as well as an assortment of hypnotic tranquilizers and positive reinforcement/self-help books.. You can find me there curled up in the fetal position weeping sheepishly several times per week, basically after each of my many wipeouts. I've actually been margined out so many times I have memorized the lengthy email my broker sends each time it happens.
I find that the best trades in Forex happen when I am not directly involved. I am "occasionally" able to stumble into a decent trade solely due to my soul-crushing alcoholism. I generally just wake up and I'm up 300 pips on a trade I don't remember making. My broker can't believe it and usually accuses me of hacking into the system and altering the outcome of the actual trade I made (presumed to be a disaster). Generally, if I'm not margined out at least once per week my broker will send someone by my house to make sure I'm ok.
chess
I knew that I wasn't cut out for currency trading when I attempted to trade $1,000 into GBP at Heathrow Airport and was margined out of the deal at the change kiosk.
While I might not be much of a trader I'll tell you that I've created an absolutely impressive closet/refuge decked out with the latest in motivational kitten posters "hang in there baby" etc.. as well as an assortment of hypnotic tranquilizers and positive reinforcement/self-help books.. You can find me there curled up in the fetal position weeping sheepishly several times per week, basically after each of my many wipeouts. I've actually been margined out so many times I have memorized the lengthy email my broker sends each time it happens.
I find that the best trades in Forex happen when I am not directly involved. I am "occasionally" able to stumble into a decent trade solely due to my soul-crushing alcoholism. I generally just wake up and I'm up 300 pips on a trade I don't remember making. My broker can't believe it and usually accuses me of hacking into the system and altering the outcome of the actual trade I made (presumed to be a disaster). Generally, if I'm not margined out at least once per week my broker will send someone by my house to make sure I'm ok.
chess
- Location
- TX
- countryCode
- US
- Real Name
- Kyle
- Occupation
- Spot Fx Trader
- Country
- United States
- Gender
- Male
- Trading Style
- untalented
- List of Markets Traded
- The BIG Casino
- What method do you use to Trade?
- I usually just guess and do a lot of praying
- Trading Experience
- More than 5 Years
- Trading Work Status
- Full-Time (Home/Office)
- Preferred Trading Style
- Scalper
- Day Trader
- Preferred Trading Methodology
- Break Outs
- Candlesticks
- Chart Patterns
- Contrarian
- Divergence
- Fundamentals
- Indicators
- Moving Averages
- Reversals
- Trend
- Preferred Market Regions
- US
- Asia-Pacific
- Preferred Markets
- Currencies
- Preferred Trading Instruments
- Spot Forex
- Preferred Forex Currencies
- USD
- GBP
- EUR
- JPY
- Preferred Trading Software (A-O)
- eSignal
- Preferred Trading Software (P-Z)
- TradeStation
- Favorite Trading Books
- Forex Patterns & Probabilities for Range-Bound & Trending Markets by Ed Ponsi (has a few mildly useful real-world tips as well as the usual generic trading advice)
- Favorite Trading Tip
- New traders should use the daily charts only.. Look at the range highs and lows and place orders there. The "noise" in between will be overwhelming to you and you will surely lose everything quickly should you attempt intraday trades or scalps.. However, if your stop loss is 30 pips and take profit is 300 pips you can have an abysmally poor success rate and your margins will still grow.. If you're doing 30/30 trades the world would be better off if you gave your money to charity.
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