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My Victorious Moments- how and why I win

 

As I have told before, I have had my share of triumph in Forex trading. From an investment of 8,227 to a whooping 21,140. Looking back, I wished I had withdrawn more money. Was I lucky? No I m a Christian and I believe God is in control of every situation. Was I smart? Well, I can count the costs so you can say I am blessed with good brains. Actually my technic of trading is quite simple as you can see from my ledger. I do hit and run day trade. If possible I would not keep my shares overnight and if losses reach a 1,000, I liquidate and cut lost. During the time of my winning streak I don't even know how to read the technical charts or understand the fundamental news. I just ask my 'expert' friends when to enter the market. But now I know friends can be awfully bad forecasters sometimes. I believe in forex trading we can accurately forecast only 80% of the time. Tecnical readings accounts for 30% and fundamental news and commodity prices makes up 50%. The other 20% is pure human factor- sentiments and emotions. I was not affected by my emotions in the earlier stages of my trading because the market was not that volatile at that time. I can say I was blissfully ignorant and my confidence was at the highest level. I think my positive mental attitude played at big part in my winning in forex. I didn't let the fear of losing money control me but instead let money do my bidding. Our mental and emotional state depend on our spiritual state. I will also blog on that in relation to forex.

Into the fire

Before I became a forex trader, I was told to avoid forex trading like plague but on May 5, 2008 I entered the volatile world of money trading in spite of the warnings. I invested 6,000 dollars for a start and on the very first day I made 280 dollars. Wow I thought that was quick money and on my second day of trading I made another 810dollars. This was fun I told myself after I made about 3000 dollars in a week but after a day or two the dreaded moment came in forex came; I owed more than I earned which in forex terms is margin call. I had to cough up 2000 dollars to top up my account.From then on things begin to look up for me. I could not do anything wrong in my trading. In one and half months of trading, my forex account increased to 21,000 from an 8,000 investment. I was a happy man, I took out 3,000 to share with my friends to celebrate my victorious moments in forex leaving 18,000 for trading but this story does not have a happy ending yet because another story unfold which I will share in another post called my humbling moments. I also want to share why I win and why I lose. For me there is not only a practical side to forex trading but an emotional and spiritual ones. We will get to that in my next few posts.