^ I don't think my system is that profitable.

If I can get anywhere near $35K at the end of the year, I would be very very happy because that would be my top end target. Too many traders have unrealistic profit expectations.

I get a lot of inspirations from reading and studying stories from real traders.

Trader Stories - OANDA FXTrade

And I'm as stubborn as they get. Most traders would have simply abandoned a strategy on the first sign of drawdown. They never let any strategy develop because they are always on the quest for the Holy Grail where it makes money in every market.

For the rest of this month, I'm probably not going to trade. I'm a little confused with the recent moves, and with the impending US rate cut, it seems like the whole market is going to be very very unpredictable. If I do enter, it will either make a lot of money or lose a lot of money.

__________________
aka jbfx

I feel like I'm in the twilight zone.



I remember making a bunch of posts, and now it's all gone. Wowzas! I guess the mods decided to make some cuts in the editing room. Oh wells.

Anyways, my system is put on hold at the moment, and no trading is going to happen until this randomness blows over. Today and tomorrow, the US Feds are meeting and there is already talk of 25 to 50 basis pts reduction in US interest rates. And possibly a worldwide coordinated interest rate cut.

And of course, next week is the US presidential election as well.

I think volatility is going to remain high, therefore I will stay on the sidelines for a little longer. Yes, this is quite boring.

Maybe I'll dig up some old ideas of having a system with 100 TP and 10 SL that is trend following. And combine it with another idea I have about fading the major currencies. When you start to think that it doesn't make any sense of the logic, that is when you should pursue that idea further. To take the path least traveled.

__________________
aka jbfx

Trader Stories: Malcolm Morley - OANDA FXTrade

I am often inspired by other terrific traders that really understand how to stay in the game. One of them is this gentleman, he's known under another alias in Oanda forums. And he runs a very successful managed fund out of Australia.

And the most incredible thing of it all, he's fully automated.

There is a lot of knowlegde that I had gleened from this guy if you really understand what to look for. For example, he looked at FA, and decided that TA is the place to be. Sure, it sounds like fluff, but if you believe he is successful like I do, then I just saved myself years of research into which path to take. He does number crunching. Wow, priceless gift, if you understand. He developed a mathematical model. Absolute gem to build your whole trading philosophy upon.

He even uses redundancy in trading servers.

So that's how I use other's success to build my success upon. If this guy was just a "guru" who doesn't trade, then you would be in a big heap of trouble when you try to apply the lessons learned. But he's a real trader with real success. That's how you separate the BS from the truth.

No one is going to give you their secret or edge, but they can give you invaluable information and clues.

__________________
aka jbfx

http://www.nytimes.com/2008/10/28/bu...nt&oref=slogin

End of the Yen Carry Trade. Enjoy.

"Yen is coming Home"

^ You gotta love that line.

__________________
aka jbfx

Yen is back on track exactly

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Forex Indicators Collection

For good luck... a little inspiration.

Attached Images

kenny_rogers.jpg (29.5 KB, 352 views)

^ Thanks, Mr. M.

I'm gonna need it.

Drop in every once in awhile to see how I'm doing.

I hope I'm more like this than .

Time to watch the Feds and US interests rates circus now.

__________________
aka jbfx

Still on the sidelines.

And quite fortunate too, I would probably be down 10%-15% of my account if I had been trading. Hopefully, I let this storm go by, and let this whole currency volatility die down before I enter the game.

In the meantime, I've been studying other systems here on this forum. A few interests me. I'm looking at the basket trader from Pipscorer, and it's different. I will probably have to twist it to make it work for me personally.

__________________
aka jbfx

Chumps Beware.

My index finger will be stronger and faster after long hours on this baby.

Gears of War II is out.

Run and Hide. Now.

your A goodbye!

I'm having my trading buttons mapped to the game controller. Muahaha.

__________________
aka jbfx

God, I'm nervous.

I feel the volatility has subsided with the Feds cutting the rates, and nothing significant happening.

So, next week, I flip the switch back on, and jumping back into the game.

Hoping for good fortunes.

__________________
aka jbfx