Building Confidence

September 14, 2006 by Trader Rich

Slowly but surely, I've been able to get back in the black and I now have a small profit over the last 4 months:

Month	Pip P/L	Gross P/L	Total # of Trades	Total Winning Trades	Total Losing Trades	Total Even Trades	Avg. Winning pips	Avg. Losing pips
1	131	$1250.6	8	5	3	0	41.6000	-25.6667
2	-401	$-3613.3	15	2	12	1	2.5000	-33.8333
3	-26	$-213.8	7	2	5	0	35.5000	-19.4000
4	273	$2774.2	13	8	5	0	42.5000	-13.4000
Total	-23	$197.7	43	17	26	1

This just shows that with perserverance, you can come back from your losses. This does not mean I'm ready to quit my day job. $197.70 over 4 months of trading is way below the poverty level.

Something else that has been bugging me as of late is whether it is possible to put your hopes of trading full-time into the hands of any forex broker out there. It's hard to trust your money after the Refco debacle. Everyone that trades forex should realize that the money that you deposit IS NOT protected from creditors! Remember a while back when I received an email from FXCM's compliance officer regarding this issue? If not, read it here:

http://www.forexproject.com/Blog/Investing_and_Trading/Is_your_money_at_your_broker_safe?/

http://www.forexproject.com/Blog/Investing_and_Trading/FXCM_Compliance_Officer_Response/

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