August 12th, 2010
GoldRock Testimonials
David Papp our 2nd Place winner of Trader of the Month for July increased his Trading Account by 41% Return On Investment by taking a more ‘relaxed’ approach to his trading…
“I’ve been trading forex casually since LTG GoldRock was launched. The best advice I received, and it’s the most difficult for me to follow, is that trading has to be boring.
I do my best when I don’t really care about the money I trade, and when I don’t mind staying out of the market. When I started trading I was very determined to make money and took way too many trades, most of them losers.
These days I check the charts once or twice a day and if I don’t see anything I like, I stay out of the market and give myself a pat on the back for having the self control NOT to click that button.”
– David Papp, Victoria Australia
July 19th, 2010
GoldRock Testimonials
Karina with her two daughters
Karina Banhuk came 5th last month in our Trader of the Month competition with a total net Return On Investment of 30.08%.
I’m a single mum of three working only a few hours a week (paid work that is) and alot of my free time (when I get it) is spent backtesting trading plans.
The best advice I can give is to only trade plans you’ve backtested and proved to yourself that they work and to make sure you take every trade on that plan in order for the probabilities to play out. If you’ve tested them yourself and had a few stops it will give you the confidence to take that next trade.
June 30th, 2010
Forex Strategy
GBP JPY Short 06-05-2010
As part of the Trader of the Month Competition we ask for the winners to share their trading journey and advice with their fellow traders. Michael Horneman was 10th on last month’s Trader of the Month Leaderboard and I have no doubt that we will be hearing more from him in the future.
Keep reading to learn about Michael’s Trading Journey and we are also lucky enough to have him share his advice as he offers an insight into his own Trading Plan.
Michael’s Story…
I began trading around 2 1/2 years ago, I first started with learning to trade Eminis. This initial experience is what first got my mindset and phsycology ready for trading financial markets.
I didn’t trade for very long as I had limited capital to begin with, and like most beginner traders lost money, but I learned some great lessons about managing risk and preserving capital. I was also very risky and too willing to trade, I still had in my head a “get rich quick” mentality and was looking to take every trade I could. Looking back this has also been the pattern for the first 6 months I was trading forex with LTG GoldRock.
To make the change from a mindset of working for money and selling my time for money was not easy, and it has taken around 2 years to really begin to understand this in a way that helps you view money differently. » Continue Reading »
