Good Testing Leads to Good Trading

My friend from Europe just finished several weeks of testing, followed by several weeks of demo trading. This friend only traded his demo account during the hours that he would be awake, and for many weeks he traded the practice account with one set strategy across 5-10 currency pairs. He sent me his trade ideas every day, with a chart attached so that I could look over his plans.

He sent an email at the end of every week with a summary of his results. He stayed in touch often and he asked for help and he made his own suggestions about how he thought that I could improve my own trading systems. I feel like he is a partner, and a friend. The most important thing that I have noticed about M.D., this friend, is that he was very disciplined in his approach; he followed a plan and even when he had a losing week, he did not change everything all at once in a mass of frustration.

Last week was his first week live. Here's his email to me, that he sent today:

Dear Rob,

Last week was my first real money forex trading week.
5 winner 1 looser
biggest winner +122
biggest looser -90
one trade not make (+171, i write a separate mail about it)
overall: +257
one trade with 2minilots, 5 with one minilot
one open trade stop @ +62

M.D. earned the right to these results because he followed a set plan to test before he traded.

Posted by Rob on October 29, 2007 03:11 AM | Permalink

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Subscribe to the blog

Enter your email address:

Delivered by FeedBurner

Sponsored Links



Las Vegas Traders Expo

 

Warning: include_once(/home/www/robbooker/analyticstracking.php) [function.include-once]: failed to open stream: No such file or directory in /home/2/4/1/1026/1026/public_html/blog/2007/10/29/good_testing_leads_to_good_tra.php on line 491

Warning: include_once() [function.include]: Failed opening '/home/www/robbooker/analyticstracking.php' for inclusion (include_path='.:/usr/local/php/share/pear') in /home/2/4/1/1026/1026/public_html/blog/2007/10/29/good_testing_leads_to_good_tra.php on line 491