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Thursday, September 11, 2008

What Would I Have Done Differently?

Quotations of the Day:

"The follies which a man regrets most, in his life, are those which he didn't commit when he had the opportunity." - Helen Rowland

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Challenge Accounts:

Investing Account Balance: $425.96
Stock / Futures Trading Balance: $954.13
Online Savings Balance: $47.51

Personal Trading Thoughts: As I was saying yesterday? This chop is nearly untradeable. At least for my own personal trading style. However, I am still within the CRBC trade where I entered at $3.09, and tightened my profit stop up to lock in profits.

I did decide to take some advice when it comes to starting out with Forex trading. So with the Forex demo account that I have? I decided to stop playing around with the 30 minute charts. I received some advice, that beginners in Forex trading should stick to the daily time frames; especially if you are coming from stock or futures trading. So I sold short EUR against the USD, and picked up a small $120.00 for that demo account.

Guess you can always learn something new.

Personal Investing Thoughts: We remain in the channel that we've been stuck in for a month. Just waiting for a breakout. I wonder if the market will remain this way until the election. DRIP remains on for every dividend investment stock I continue to hold.

When you start having a little success? You start wondering what you would have done differently, if you had it all to do over again. Perhaps there is something here that those who are new can learn from ... (video included)

Tomorrow we're going to talk about having goals.

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Challenge Project Account Balances and
Money Management Numbers:

Investing Account Balance:
Stock / Futures Trading Balance: $954.13
Online Savings Balance: $47.51

Total Trades: 6
Largest Inter-trade Drawdown: $86.51
Consecutive Losing Trades (Drawdown): 2
Average Drawdown: $56.63
Average Loss: $74.27
Accuracy Rate: 33%
Average Reward: $175.34
Risk : Reward Ratio: 1 : 2.1
Trading Money Gain / (Loss): Up + $53.84

This is not an investment or trading recommendation. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading or investment adviser, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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