My End Of Month Forex Results

December 1, 2006 by Trader Rich 

I'll mention what I've been busy with in a moment but let me recap November first.  I ended the month of November in the black at +14 pips.  It isn't much but nevertheless, the third month in a row with profitable results.  Over the previous 3 months, I've managed to take 747 pips from someone else's grip.  Consistency is the key and the goal in everyone's trading; I'm slowly starting to believe this is possible in my trading.  Of course I always have my doubts on whether trading Forex is a viable option to wealth growth but I have to believe that trading full-time is possible.  I've received so many emails over the past year from many traders and most have not obtained success.  If you believe what "they" say, that only 5% of traders are actually profitable, then I can understand this.  There is obviously no way for me to prove who really makes money but from all of my conversations, but I'd say maybe only 1 or 2 have achieved a success that one may strive for.  I've also received emails from long time traders that are convinced that there is no way you can make money trading Forex.  They are absolutely and positively sure of this.  I don't believe this or I wouldn't be writing this post.   One thing I am certain about is that it takes a lot of time and effort to learn how to trade.  I can only estimate that the amount of time I've spent learning (everything from reading, trading, writing) exceeds 3000 hours.  That's about 50 hours a week for 65 weeks.  So this is already my full-time job, but unfortunately I have 2 demanding full-time jobs.  I only want 1.

Anyway, I had a nice start to December with a 90 pip profit trading the GBP/USD today.  The pound has been "pounding" the dollar since last week with its sights on 2.0000.  I wouldn't be surprised if it hit that mark next week.  What a resistance level that sounds like, 2.000….

I'm out of time right now so I'll have a post in a couple of hours related to what I've been busy with. 

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Comments

3 Responses to “My End Of Month Forex Results”

  1. Caravaggio on December 1st, 2006 2:41 pm

    I thought the % of winners was closer to the 15% mark in futures.

  2. Kate on December 1st, 2006 9:08 pm

    Just thought you should know that some idiots have trashed your forum. Not sure how to prevent it, but a google search should provide some insight.

    Be sure to secure your site once you clean up the mess, if you haven’t already.

    Good Luck!

    Kate

    p.s. If you already know about it and are trying to fix it, then my apologies for reminding you that it’s still a mess. Just wasn’t sure if you knew… and I certainly would want someone to tell me if it were my forum. :-)

  3. Dan on December 3rd, 2006 11:50 am

    I can understand where you are coming from. Trading can be an endless tirade of reading, researching and the ups and downs of trading.

    Not that I need to advertise but I know where you are coming from and after acquiring 15,000$ worth of courses, I actually found stuff that works and consistently and are understadable for a mentl perspective vs blindly following indicators. Give me an email if you want. There are like 3-4 resources I persoanlly stand by. it’s rumi_3000@yahoo.ca and no I don’t own anything or have any desire to solicit. I just know where you are coming from (ahem: the hell that can be forex trading). Seriously, I can offer some stuff that can provide you some peace of mind ( and profits) and no word of a lie, all of the resources I know of hardly cost anything. You’ll be surprised.

    Anywho, I love the blog and I wish you the best in your trading endeavors.

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