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Old 05-15-2009, 11:25 PM
 

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Cool First day of Forex
Hey, Thursday was my first day with my live forex account... and I made $6.800... would you call that good progress?
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Old 05-16-2009, 10:17 AM
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It doesn't matter how much money you made. Did you follow your trading plan? Did you keep your emotions in check and not act on greed or fear?
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Old 05-16-2009, 10:38 AM
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Quote:
Originally Posted by sugar_daddy_2b View Post
Hey, Thursday was my first day with my live forex account... and I made $6.800... would you call that good progress?
That depends.
If you made it by risking too much of your account, I would say no.
If you made it by using strict money and risk management together with a sound trading method, I would say well done!

From the little info you gave, one can't tell.
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Old 05-16-2009, 12:09 PM
 

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Well, I started out with $15.000 and made several trades of 2 and 3 lots, then, as I made more money, I started with 5 lot-trades. I did follow my scheme and stopped when I needed to stop .
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Old 05-16-2009, 09:29 PM
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Quote:
Originally Posted by sugar_daddy_2b View Post
Hey, Thursday was my first day with my live forex account... and I made $6.800... would you call that good progress?
No. If you doubled your account in two to three trades in a single day then you're not using sound money management.
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