p.s. To: Merlin Administrator, what do you think about a new thread focusing on Risk Mgt? I have seen too many colleagues with dead accounts and looking for other jobs because they were never taught Real Risk Mgt (they only learned "set your stops at 50 pips..."). I know it's a dull topic, how could we add some salsa? By the way, to answer your question, I've been in the U.S. stock market since 1959, the year of Sputnik and the dawn of our high-tech age. I've developed and won with Tech. Analysis in stocks, been immersed in forex 6 months, paid my fx newbie dues (lost 86% of $14K), developed and traded several complete fx trading systems, have coached many other fx traders, and this week I'm funding my newly opened UK-based fx account for a pool of personal and associates' private funds. It took me a while to change the beat from classical to heavy metal; they say 1 day of fx trading is equivalent to 20 days (1 calendar month) in NYSE. The methods are similar but updated (for the PC age) and recalibrated for much shorter cyclicity and overall higher routine volatility. Risk mangement, capitalization, and discipline are identical. So, I may be an fx neophyte, but I'm not a Tenderfoot. Anyway, retail fx is only 8 years old, so in a sense, we're all pioneers in a new and rapidly evolving game. Other than long-term profitability, my greatest concerns are (1) protecting fx newbies from fatally hurting themselves and others and (2) cleaning up the unethical fx operators, especially in developing countries where scams are a way of life, and where things too good to be true often appear as the only salvation available. I believe in knowledge, education, and continuous learning. I have and continue to be available to contribute my efforts toward these ends. Suggestions are welcome.
i will start the thread, feel free to copyandpaste what you have outlined in this thread to the risk managment thread.