Monday, May 09, 2011

Trading Forex and Cooking

You might wonder what forex trading and cooking have in common. Frankly I am not sure except for the fact that since I started cooking, my trading has improved.

I went from cooking once a month to cooking meals about twice or three times a day. I find that after slaving away on a hot meal, my brain and body uses up all the restless energies I normally carry around. And when I see my trade setup, I try harder at checking my rules and then I am take it with less hesistation.

Is my trading account better for it? Yes, up until 3 weeks ago when I blew up all the good work I had done for the last 2 months. I know why....Revenge Trading was the culprit.

Now I am starting back to "10 pips a day". A wonderful strategy from Rob Booker. I love his books, they give light to all the monsters that you find hidden within yourself when you start trading forex. And they give hope that to be successful in trading, you need only work away and accumulate small, very small profits daily.

At 10 pips a day, I managed to triple my mini-account in 3 months. But a week of losses wiped it down back to it's original value.

Trading is hard. Cooking is not as hard...but for some people, it's insurmountable. I am working at both.