Hey Clark,
So did you initially start with a mini account early on in your career and now are at the point where you can make a stable living off forex??
There will always be swings. Good days, bad days. Good weeks, bad weeks. Even at the highest level.
That’s why you hear people talking about proper money management as the secret to success. Don’t allow a single losing trade to cripple your account. Personally I don’t risk more than 1% equity on any given trade and I have no more than 5% of my account at risk cumulatively across all my open trades.
Finding a trading edge is the first step. The second step is allowing your strategy to get you to the “long run.”
“There will always be swings. Good days, bad days. Good weeks, bad weeks. Even at the highest level.”
I think a good trader, doesn’t have these problems.
A trade turns against you because, A- Over hyped News, B- lack of adjustments/adaptation to current pair action, C- Not knowing what your doing. Just like a sail boat, if you dont adjust the sail to the Current windflow, your either going backwards, or circles. Definitly not in the direction your wanting to go…
Now, my whole trading falocify is broadly differant from everyone elses, as I trade high risk, so, I cant be wrong. But in the same fashion, Grooming myself to not lose, makes me a better trader. If Shaq would have practiced Like Kobe, at the free-throw line, he might have been better at it…
Its all about repetition, and adaptation adjustments in the end.
When you have $50,000 on the line with one trade, losing is not an option…
If I cant stay around 85% strike rate, things need a fixin, NOW…
I would like to be perfect, and I probably should be around 97% at least, and I will be, its that loss that gets ya…
I aim 5% a day, and my " Turn out the lights and close the laptop" should be at 5%. So, one day lose is all that is possible for this swing and miss event…
When you lose 2 weeks of progress thru 1 trade, thats what ruins traders… Just like in life, try to make 1 step forward, then 1 step forward, and never 2 steps back…
This is why, I personally think, daily goals are needed, if % or pips, it gives you a differant window for Money Management issues… Now, if I take 2 losing days on the account, then its time to dig into the system, or MYSELF, and get straight…
Forex is a beast, and if your ultimately very good at it, your wages surpass every single college degree available on the market.
And thats the way it needs to be looked at… Look at the time invested with a Lawyer, or a Doctor… Yearssssssss of learning, and adapting to new technology, or laws… But even then, the level needed to be obtained to " GO Live" is high…
Another thing, I say causes a high failure rate, and this is my assumption, because I personally think it tugs at me, Is " Your the Boss"… No one holds my actions accountable, but myself, at this point…
I will tell you this right now, and it might sound weak, or, whatever, but If I worked in a office, where I had to report at a Fixed time, and had to report to my boss daily, I would be very very wealthy right now…
The " Work at Home" thing is something else… You have the freedom to eat, take a nap, smoke, play video games, play with the dog, hell, even drink beer if you wanted to. But, who keeps you on your toes?
Your bank account, right?
lol
Seriously tho, some need to have the person that will say, " Comon Man, really?"
But everything is about to change, Im getting my own office finally… about 2 weeks I can start working on it… But then I can print out my daily reports, print out my 5% certificate, and hang it on the wall… I’ll call it the wall of accomplishment…
Like Willie Mays Haze, tack a batters glove for every stolen base… LOL…
Im nutz, huh…
PS: I only took 1 trade today, and it was a limit order, and it made money, can you believe it?
See, Im on my way, 
OK, sorry for the long post, but you guys are my friends,
Great Profits to you all,
Started with $5000 in stocks, which really is nothing, since they recommend you start with $25000 in that market. Turned that into $35K.
Then, started FX with $200, went down to $165, took a break, re-assessed, and I’ve been up since.
I’m still an university student, but I can say I live comfortably, paying my tuition and enough to support my spending habits (which I really need to control). Lol
Thats awesome Clark, keep rockin it
2012 Mercedes GL 550 - Fully Loaded
2010 Acura MDX - Fully Loaded <-- Crashed into an 18 wheeler semi two Fridays ago. 
So this vehicle is done.
It’s no 5% a day, that’s for sure. 
Crashed into an 18 wheeler semi two Fridays ago. So this vehicle is done.
You? goodness,
Nice garage tho,
I want that Bugatti , they stopped making them, there are like 3 available, 1.1 Million…
That one is the 2006, 900 miles on it… top speed, 253 MPH, with 1001 horsepower…
So, I make it my avatar, so I look at it 476 times a day, 
I began learning forex late last year, put in my first $2000 some time in Feb/March and lost 25%. Stopped trading live after that (looking in retrospect, my biggest fault was excessive position size). I’ve been researching and backtesting since then and have concluded that I’ll probably need to continue backtesting for many months more.
I don’t think that 95% figure is accurate. Ignoring transaction and holding cost, the expectancy of a random entry and exit system is 0%. You should expect to see a normal distribution of winners and losers. Adding in costs should move the partition seperating winners and losers, but up to the 95% mark? That sounds too much. From what I’ve read, it’s more like 66%-75% of traders are losers.
OANDA posts their % of winners and losers here:
I’m not too into sports cars believe it or not. When you’ve only got 2 months of summer every year… SUVs and Sedans with heated seats are what you want. Although I do have 2004 Acura RSX Type S in my garage as well, but only my friends drive that when they want to pick up girls. Although, I argue the Mercedes would work better… 
Main car to get for me would be a Bentley Continental GT.
Edit: My birthday is this Sunday, finally 19… Getting old eh? Hahaha
95%? I think more than that, around 99%? Many never past the fist year after they lost some money.
Those figure are from Oanda, if they announce that 95% of traders losing money, would they attract any more prospective losers?
Well, if trading is as easy as tossing a coin. The problem is within the trader himself, he’s too smart to take it simple.
[QUOTE=“MoneyNVRSleeps”][/QUOTE]
W16 engine… That’s what I’m talkin about!
19? WOW, wish I found forex when i was that age.
I just opened a demo for my just turned 11 year old son. He wanted to know about Forex, so I just set him up, basic candle, naked chart, High low Limit orders, he’s up .03% so far.,lol, 1 for 1, on his own… 35 minute walk thru, he has his notes and everything…
Dude, good to see your on top at 19,
My brother’s 11… Hmm… Maybe I should start teaching him too?
Hey Man, start them off right, best career path available. By the time they are 18, they would be great traders…
My son said, " You take days, I’ll work evenings, then get mom to work Nights" LOL
LOL, his mom got shafted. Hahaha
Yeah, I think I’ve tried, I think he’s on grade 5 in the Babypips school. Who knows, I’ll ask when he’s done school today.
Right now he’s just milking the whole “My brother can make money and buy me video games” thing.
lol, as he should, right, lol
I’m gonna teach the kid to count cards and play Blackjack. LOL
Teach him to be a casino dealer, then we can all benefit from inside dealings