You Can't Become Rich In Your Pocket Until You Become Rich In Your Mind
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200505-01At least you didn't lose ten million dollars of your company's trading capital on the trade

200505-02And we stepped off into the reception area of the trading floor

200505-03You get a zero equity balance in your trading account. Why?

200505-04If we stopped trading right now, we'd take in an incentive fee, at the end of the year

200505-05I had a hard time telling where the currency pair was really trading

200505-06They were late to the currency prop trading idea

200505-07He was basing his entire trading system on something that simple

200505-08The losses in my trading account from that morning had faded away

200505-09Maybe that was the last trading you'll ever do

200505-10Of course you're going to have to lose some money in the course of ordinary trading

200505-11I had done some trading on company time

200505-12If Alistair was trading one-million-dollar positions, then the 120 pips had made him twelve thousand dollars

200505-13I waved my badge in front of the door, and walked out onto the trading floor

200505-14We call it short-term trading from the longer term charts

200505-15I could figure out a way to take the carry trade on a retail platform

200505-16A week ago I had decided that I was the worst trader in the world

200505-17The purpose of the carry trade is to earn interest at a very low risk

200505-18We made some good money from those trades

200505-19The retail carry trade is an adulteration of the same type of trade done by hedge funds all over the world

200505-20I have tried to get my hands on every currency trading book that I could find

200505-21What we now know is that markets are efficient, but they are not perfectly efficient

200505-22A trader's edge is their ability to deal with uncertainty at minimum risk

200505-23His out-of-control fx trades ended up costing the bank a cool $691 million

200505-24The big players in this group include prop desks (banks trading their own proprietary accounts), hedge funds, commodity trading advisors (CTAs), and currency overlay managers (COMs)

200505-25Casinos do not like winners and neither do FX brokers

200505-26In times of volatility, changing the execution trade price post-fact after it had already been confirmed to customers earlier in the day

200505-27The next thing that traders can do to gain back some of the lost ground is to keep detailed trading records

200505-28Hedge fund managers have long made fun of the quant models, and often joke This is terrible!

200505-29Traders entering FX from other capital markets quickly realize that trading currencies is a quite different beast altogether

200505-30Finding the right currency pair to trade should be of utmost importance to all individual traders

200505-31All traders should include bond and gold prices in their market monitors



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200504Trading can bring you independence. Trading currency has brought that to me, and I hope that it can do the same for you

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