Tuesday, July 19, 2011

Allow the true professionals to show you how they cut their losses and take profits.

Again, I thank those ardent supporters of my blog for following closely to what I do everyday for a living. I'm doing this is to help newbies understand what professional trading is all about:

1) totally unglamorous.(I work half naked in boxers at my personal trading room in my fully paid condo)
2) boring to the core. (90% of my trading time are spent on reading chinese history)
3) hiding my true performance from friends and relatives.( those at simex will know I'm good but for outside friends and relatives I always tell them I'm working as a home clerk) You won't want a bundle of leeches calling you up everyday asking for your opinion on Euro and commodities.
4) putting up with slow performance weeks( a rule of thumb is to only withdraw 20% each month and bet the rest again).

Well I know talk is so cheap, even my neighbour's maid know the importance of cutting losses and running profit.

Euro
bot 1.4161   closed 1.42
profit: +39 pips

Corn (sept)
bot 705.75 (add on to yesterday's long at 695. Non-professional traders but full time ''recruiters/trainers'' should not try this at home or in arcade centres!)
closed all long at 716
profit: +20.75cts  +10cts

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