Wednesday, April 2, 2008

If they invent the time machine...

If i had a time machine... For one day only... Let it be the very small time machine, it will look to the future for 1 minute... What would I have from it?
Nothing, except of couple of billion dollars in my pocket for tomorrow :D

If they invent the time machine - how long it will take to overall financial collapse? One day or just 5 minutes only?

Ok, that is just a dream only. The fact is that now no one, once again : NO ONE can predict the future. So why 96-98% of traders are whiped out for the first year? Because they do not have super-duper "predicting indicators" or "100% generating 100 pips per day strategy"? I suppose that is not the answer.

I suppose the answer is very simple and everybody know it. But it is very hard to use it in practice of trading - I checked by myself. The answer is :
CUT YOUR LOSSES AND LET YOUR PROFITS RUN (applied to the time frame you use to trade).

You also knew this answer, did not you?
So hardest thing for the beginner in trading seems to take losses, and main thing I need to learn is to take them.