just to make a note of how much money I made and lost these 2 last months:
:: in the end of spring - April 2008 I depostied 10k USD in GFT --outcome:
1. in August I made 55k - withdrew 7k -
2. again made it to 55k and lost it on a single trade in 5 minutes when the GBPUSD daily range from 300 pip overextended to 400+ pips ina liquidation trade..........
3. deposited 15k USD again made it to 21 k and lost themm in a trade
4. Oct 2008 deposited 15k USD more -- made them to 34k - withdrew 6k
5. these left 27k - I made into 38 k the same week and then lost them today in a single trade while shorting GBPUSD - AGAINST THE TREND!!!!!!!
6. the 9K I had in CMC CFD trading account I made to 12k and lost them while trying to buy the bottom in S&P and Dow futures... AGAIN AGAINST the TREND!!!
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how much money I have to lose to get this simple idea that to be consistently successful I have to act right :
1. discipline -- to wait for the right moment and for the opportunity to reveal
2. discipline -- to use leverage only when in profit and when the edge is in my favor!!!
3. discipline -- to develop scanerio and risk level and respect the RISK levels and initial strategy!!!
4. disicipline -- to use leverage only to the level I can manage the drawdown and to be able to come back if I am wrong or late to bail out...
5. DISCIPLINE -- to make the hard choise of being with the trend - buy high - sell higher if in trend mode!!!
6. TREND - to start trading first define the market mode :: Trend or Range ?
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