Useful Forex topics , strategies + informations

Saturday, November 25, 2006

Google

Price of breaking Trading rules+ disipline

as the US Thanks Giving Day is approaching ,
i didnt know anything , until my account being wiped out , MC

only did i realised that this week is US HOLIDAYS,
so , many people travelling around, buying ,shopping for this occasions.
So the Volume will be low, since majority of the traders are from US.


apart of this , the US government wanted the goods to be cheaper during this time,
that;s the USD dropped tremendously across most of the major pairs.

little did i knew this , i still LONG for USD few days before ,
and continue to do so till Wednesday , when i found out ,
but it's too late ........
at that time, my margin was around 100--200%,
but by Thursday,
the USD suddenly dropped another 100 pips ++ (i didn't really go and calculate, but u'll see a SPIKE in the Hourly chart across all USD majors)


when i saw this "good news" , i was happy for a while ,
cos yesterday, my account showing negative -1050USD, now i see -120USD...
I though im safe !
but when i see the balance, only i knew everything is too late .......from USD1280, i'm left with USD140.....

today is Saturday, 25Nov, by monday, everything should be back to normal,
but i can;t recover now , probably need to pump in some capital before i could start trading again.

from this i learned a lot , one of my bigest mistake is OVER TRADE, and disclipned.
I broke my trading rules too many times.
and i never keep to my 10% trading margin also..

May this lessons be a reminder to me and the rest . (it cost me USD1200)

Google

Trading During Holidays (US, Thanks Giving Holidays)

1st of all, like Many experts in FX always said,
don't trade during Holidays time , because it is dangerous .

now , i knew why , i have personnally experienced it,

In one day alone , i got Margin Call,
and that took 90% off my account causing me to lose USD1200.
All my hard-earned 2 months profit + capital flush down back to the market .

Conclusion,
Avoid trading during those times