From $2000 to $1000000! Randy Mac on the character factor of foreign exchange trading those who comply with the profit those who do not

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Randy Mac autorebateforex little known on Wall Street, forexrebatebest his 20-year record forex broker rebate program the foreign exchange cashback forex and futures market is rarely matched He started with $2,000, the first year to earn 70,000, and then every years profits exceeded the first year of the 80s Macs annual earnings are more than $ 1 million Mac in addition to making money for himself also on behalf of Family and friends to do foreign exchange, the earliest two accounts, starting with $10,000 in 1982, 10 years later has more than a million Earn! Earn! Earn! From $2,000 to $1 million Near the end of college, Randy Mac was just in time for the Chicago Board of Trade to open a new exchange, engaged in foreign exchange trading business at the time, a seat on the Chicago Board of Trade is worth $100,000, but to attract investors, foreign exchange trading room seats for only $10,000, and free to each existing exchange members a seat Macs brother passed his free seat to his brother, but also lent him $5,000. He 5,000 U.S. dollars forexbrokerrebateprogram will be 3,000 U.S. dollars into the bank for living expenses, the other 2,000 U.S. dollars to do foreign exchange futures at the time Mikes knowledge of foreign exchange is very limited, see others to buy marks, he followed to buy Swiss francs, nothing to play chess, so the first year actually earned 70,000 U.S. dollars Mike 1976 took a big step that year, the British government worried about the pound to increase the value of imports too The British government announced that it would not allow the pound to rise above $1.72 at the time the pound was hovering between $1.6, after hearing the news but surprisingly a sudden surge to $1.72 after every point to this point are rebounding, but the more bouncing less and less most people are calculating that the British government does not allow the pound to exceed $1.72, so at this point to do short should be no risk Mike but another plan: since How clear the British government attitude can not suppress the rise of the British pound, so that the intrinsic demand is very strong, the currency market is actually up the board this may be a once-in-a-lifetime opportunity Before, Mike only do a maximum of 30, 40 single, this time, but all of a sudden into the two hundred buy orders despite the heart is very confident, but he is also afraid to die, because so many single a slight reversal will be finished Mike for several days in a row sleepless nights, 5:00 in the morning to ask the bank for quotes One morning, he heard the bank offer: 1.7250 U.S. dollars sterling he thought the other side of the report wrong, and then again after checking the ecstatic he not only bought some sterling contracts, but also encouraged friends and relatives to buy together, and then comfortably watch the pound rose to 1.90 U.S. dollars three months later he closed the single out, by hand at 1.90 and threw a few hundred contracts, the results also made money this Mike made a net profit of $1.3 million in one transaction Mikes other success was to sell short the Canadian dollar in the early 1980s, from 85 cents all the way down to $67, for five years, with 1,500 entry orders and millions of dollars in profit during these years, although the Canadian government intervened several times to support the Canadian dollar, but always half-heartedly, until one day the Canadian Prime Minister Maloney said in anger: "We can not let Chicago speculators determine the value of our currency exchange market has since reversed, Mike also came out just in time to hit the head! Blood loss of $ 7 million Mike also had losses when Carter announced in November 1978 to save the dollar plan, Mike happened to have a large number of foreign currency buy orders on hand, but the first two days he saw from the strength of the currency market in decline, so closed all the Mark buy orders, leaving only the British pound on the second day after the news, as soon as the market fell sharply, Mike rushed to the foreign exchange market to close the order, a loss of 1,800 points, a loss of $ 1.5 million In addition, there is a bigger loss is also to do with the Canadian dollar at the end of the 80s, the Canadian dollar on the rise, Mike chasing the trend into the single, a total of 2,500 buy orders, was to earn $ 2 million when the Canadian elections, in a debate, the incumbent Prime Minister was far ahead of the big loss, the polls suddenly plunged 16 points, the result of the Canadian dollar fell sharply, and Mike could not stand the pressure to cut the single out of the market when the whole The left hand technical analysis right hand fundamental analysis Mike analysis of foreign exchange has a unique insight on the one hand he is a technical analysis school, believe that the best way to make money is to follow the trend, especially the middle section on the other hand he believes that fundamental analysis is very useful, is the basis for strategic decisions he believes that the beginning of a momentum is difficult to do, because you do not have a grasp of the direction of the potential end is also very difficult to do, because many people began to take profits back, the market fluctuates back and forth a lot he believes that the middle of this section is best to catch, the bottom and find the top are futile for basic analysis, Mike does not believe in economic theory, he mainly relies on the observation of the market reaction to various news to determine the market direction, such as bad news out of not down but up, indicating that the market intrinsic factors are very bullish Mike feels that the market itself is also changing Trading in character factors: those who comply with the profit against the Mike believes that successful traders can have different personalities, but there is one thing in common: they have found a single strategy to suit their personalities. He will use this in risk control some people go against their own personalities, take a trading strategy that does not match their own for example, some people are good at system trading, but do single but arbitrarily veto their own trading system to provide advice also some people tend to do long term, but due to a lack of patience or feel uncomfortable not to enter the field, the result is always take the short term some people would have been very suitable for live traders but prefer to be a mediocre investment manager have Some people spend a lot of effort to study some feasible low-risk market trading strategies, but finally decided to do high-risk strategic trading Mikes experience tells us: the secret to winning in foreign exchange trading is to be clear about their own character, to find a single strategy to suit their character, to do to avoid the shortcomings of the strengths
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