[/B][/QUOTE] Many Thanks GO for your kind reply. Actually I think the key difference between CFD and a normal broker is leverage.... If you can afford it, I think it is better to go for a normal broker as your order head straight to the Exchange. Whereas CFD, you are betting against the Bookie....i feel that this is the additional risk. Normal broker >> commision + risk from market CFD >> commision + risk from bookie + risk from market BTW, I search thru', there is no TO posting on the a/m date. I suspect it is because our computer clock is running on diff time zone. Are you referring the the posting on how to work out the max % risk?
Dear TO/TE, thanks for your kind. Yes, I have been reading and learning. Honestly, I have not figure out what is the OBVIOUS.... but for the past 3 months, my losses is getting smaller and my wins are coming more frequent. I like your saying of 100pennies makes a pound... I used to decide what I like to take from the market....obvious i couldn't....Now I acceot whatever the market is giving me... Just like going fishing....accept whatever catch the sea is giving. Many thanks and greatly appreciated.
But I think if you do your homework at night you should have some kind of idea what "may" happen the next day. You still have to react to what happens, otherwise you'll end up sitting in a losing trade because of what you "think" rather than getting out because of what is "actually" happening. That's the downside of trying to trying to predict what will happen the next day or the next hour or the next 5 minutes. I think it's helpful, but it's hard to detach yourself from your analysis. You always have to ask yourself, "What is price doing right now?". If your analysis says it should go up, but it's going down then you need to stop & think & make a good decision.
BTW, I search thru', there is no TO posting on the a/m date. I suspect it is because our computer clock is running on diff time zone. Are you referring the the posting on how to work out the max % risk? [/B][/QUOTE] Oh yes, that is probably the item. GO
I would say a bad falsification of Victory Boogie Woogie by Piet Mondriaan GO [/B][/QUOTE] Hmmm...I see, sort of. Hi GO.
My conclusion to date, after 18 months of daytrading, which may seem for some to be only slight experience: Most people who try trading will struggle and loose, and follow the well trodden trail of trying numerous methods of TA, charting, data sources, reading forums for help/tips/ideas for how to trade, until eventually it dawns on them that the key problem to master is their own behaviour.
of course mk..u must have targets..and take ur loss or profit depending on what develops after u are filled if u look at the boxes..u can see what is likely to happen..and so..u can be ready to take action never be afraid to take a profit..or get greedy..as u can see from the chart what can happen as we keep saying..practice makes perfect i hope ye are all now seeing how concentrating on ta is not the best way to learn how to trade..nor to risk everything on one trade..no matter what the likes of potato head says the truth is..anyone can learn how to be successful..providing they commit to learn what is required..practice live trading..with small risk initially..and gradually increase as the experience is gained and results are positive do u not see how practical this approach is..and..how..after initial success..the fine details can be worked on to improve performance success is achieved by the same means..no matter what profession u are in..and success breeds success the main obstacle to advancing in trading..is listening to idiots..who think they know what they are talking about..when..all u really need is the basics mentioned to kick start the process..after that..providing u are committed..u will make money..guaranteed TO
and what controls ur behaviour? Man is certainly stark mad; he cannot make a flea, and yet he will be making gods by dozens Nothing is so firmly believed as what is least known A straight oar looks bent in the water. What matters is not merely that we see things but how we see them
I'd like to think that I control my own behaviour with perfect perception of reality, but there is the awareness that I/we are biased in our thought processes, which leads to doubt in what I think is right. In that case the only sensible thing to do is to have a plan and stick to it.