with my preparation, I started trading these methods live in October of 2006. Now, some 7 months later, I am trading with complete consistency and emotions do not affect my trading. Sure, I don't feel great when taking losses, and am happy to take in the profits when the trends come, but regardless, I stick with the method. This solidity comes from back testing. I also use sensible money manageI first started trading forex back in 2003, and made the typical mistakes of a trading noob. First, I didn't back test my trading method. To stay consistent with a trading system one needs confidence in how it is going to perform. This comes with back testing which is looking at price data over past years and analyzing the performance of the trading method.

Second, I used poor money management. A general rule of thumb I've seen in the forex community is to use at most 2% of account per trade. I would be embarrassed to say - I don't even remember what kind of percentage I was using back then. I was out to make the fast buck and wasn't concerned with survival.

Trading without a tested system led to inconsistency - I would second guess myself and enter and exit trades without planning. With oversized trading percentage my account quickly deteriorated. After a few months, disillusioned, I concluded that trading forex was not for me.

Fast forward to summer of 2006. Out of the blue I had the desire to take a look at trading again. This time I intended to research well, learn to trade with survivability in mind for the long term, and BACK TEST! I chose a couple of very simple systems to fit my style where I could spend only a short time checking price patterns and entering trades - none of this staring at charts all night during the london and europe sessions. I back tested the systems by hand. Some use automation to back test. One should take care that their method of back testing represents the trading method as accurately as possible.

Satisfied with my preparation, I started trading these methods live in October of 2006. Now, some 7 months later, I am trading with complete consistency and emotions do not affect my trading. Sure, I don't feel great when taking losses, and am happy to take in the profits when the trends come, but regardless, I stick with the method. This solidity comes from back testing. I also use sensible money managem

ement. A general rule of thumb I've seen in the forex community is to use at most 2% of account per trade. I would be embarrassed to say - I don't even remember what kind of percentage I was using back then. I was out to make the fast buck and wasn't concerned with survival.

Trading without a tested system led to inconsistency - I would second guess myself and enter and exit trades without planning. With oversized trading percentage my account quickly deteriorated. After a few months, disillusioned, I concluded that trading forex was not for me.

Fast forward to summer of 2006. Out of the blue I had the desire to take a look at trading again. This time I intended to research well, learn to trade with survivability in mind for the long term, and BACK TEST! I chose a couple of very simple systems to fit my style where I could spend only a short time checking price patterns and entering trades - none of this staring at charts all night during the london and europe sessions. I back tested the systems by hand. Some use automation to back test. One should take care that their method of back testing represents the trading method as accurately as possible.

Satisfied with my preparation, I started trading these methods live in October of 2006. Now, some 7 months later, I am trading with complete consistency and emotions do not affect my trading. Sure, I don't feel great when taking losses, and am happy to take in the profits when the trends come, but regardless, I stick with the method. This solidity comes from back testing. I also use sensible money manage

planning. With oversized trading percentage my account quickly deteriorated. After a few months, disillusioned, I concluded that trading forex was not for me.

Fast forward to summer of 2006. Out of the blue I had the desire to take a look at trading again. This time I intended to research well, learn to trade with survivability in mind for the long term, and BACK TEST! I chose a couple of very simple systems to fit my style where I could spend only a short time checking price patterns and entering trades - none of this staring at charts all night during the london and europe sessions. I back tested the systems by hand. Some use automation to back test. One should take care that their method of back testing represents the trading method as accurately as possible.

Satisfied with my preparation, I started trading these methods live in October of 2006. Now, some 7 months later, I am trading with complete consistency and emotions do not affect my trading. Sure, I don't feel great when taking losses, and am happy to take in the profits when the trends come, but regardless, I stick with the method. This solidity comes from back testing. I also use sensible money manage

very simple systems to fit my style where I could spend only a short time checking price patterns and entering trades - none of this staring at charts all night during the london and europe sessions. I back tested the systems by hand. Some use automation to back test. One should take care that their method of back testing represents the trading method as accurately as possible.

Satisfied with my preparation, I started trading these methods live in October of 2006. Now, some 7 months later, I am trading with complete consistency and emotions do not affect my trading. Sure, I don't feel great when taking losses, and am happy to take in the profits when the trends come, but regardless, I stick with the method. This solidity comes from back testing. I also use sensible money manage

with my preparation, I started trading these methods live in October of 2006. Now, some 7 months later, I am trading with complete consistency and emotions do not affect my trading. Sure, I don't feel great when taking losses, and am happy to take in the profits when the trends come, but regardless, I stick with the method. This solidity comes from back testing. I also use sensible money management.

I am now up approximately 11%. Translating this to an annual percentage would be about 20%. Now, I will be the first to say that a 7 month trading result does not guarantee long term success. I will be more confident in my methods after seeing good results for a year or two and more. I will report back on my first year in October. :-)