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 Looking back, I wished I had withdrawn more money.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.
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