Fine Art America

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Monday, August 27, 2007

Getting up.

Tomorrow will mark the beginning of my new attempt at profitbility on the FOREX market. My funds will be available in just a few hours.

Now, the size of my account versus what I trained on has no comparison. I will now have at least 600% more available funds to trade with than the maximum size my account ever contained during my 4 month initiation period.

I will restrain myself to a very tight money management plan, and will automatically install a stop-loss on each and every trade. A thing that I lacked and paid dearly with my poor pennies...:) The market can sometimes be very unpreditable and spectacular. The market is also never wrong.

For example, during my short 4 or 5 week inactivity period, I was a spectator to a GBP/JPY major movement. It traveled thousands of pips on the way down from it's high around 251.50 all the way down to the 217.xx area before going back up in the 232.xx at the end of last week. All that during a few weeks of time.

That was a 3500 points travel on the way down, followed by a 1300 trip back up. All that in just 5 weeks. Great opportunity for those who know where they are going, but also it means great danger and great losses for those who adventure themselves with bad money management.

I feel ready for the next step: profitability.

P.S. Do not invest money you cannot afford to lose in Forex trading. Every trade is potentially dangerous.

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