8th September

Hi John

I took your advice and went over the areas you mentioned and then I put in some demo trades. I find the market very hard to gauge today. I have lost $ 30 and only bought or sold at 0.5. I should have pulled out sooner at some of them but just as it got going it turned back on itself.

I’m not unhappy as this is such a valuable way of learning. I think end of the day I’ll break out even – I hope. Kind regards - Desiree

Another email same date -JB

Dear John

I learned something about myself today. I watched the currencies and put on trades and thought about how I felt when I made a loss. I realize I went into trades at the wrong time and got out too soon. I wasn’t too concerned about loosing but I wanted more was to see how I react to losses and wins. I started with putting on £10 and I would make a profit and then move my stops too much as the trade would cut out when there was a slight drop. I then played around with various amounts. The £10 was the one that had me the most jumpy and wanting to get my profit and get out. The £5 was a bit better but I was still quite jumpy. Then I made quite a few losses because the market didn’t seem to be going anywhere so instead of getting out altogether I stayed in to see how my account fluctuated with tiny ups and downs. Bad move. These tiny ups and downs cost money.

So I left it and then after work I started trading with £1 and £2 and felt so much more relaxed. I would not freak out when there was a dip, instead I moved my stops to accommodate these dips and stayed in the trade whereas before I’d have taken my money and run. I have the account bar open at all times and watch it carefully at the same time watching the charts and indicators.

What a learning curve it was. Did I make a profit? No. but I learned where my comfort zone is and that small change adds up and end of the day is probably as profitable or maybe more than betting on higher amounts. Right now as I write this I’ve got £1 on cable and its rising really nicely. I’m relaxed enough to let it trade away and stop to write this email to you. I’m up £34.

So maybe when there is clear indication that things are rising or dropping drastically maybe that’s when I need to put more money on but when it’s flat stick to £1 and let it ride.

A book I’m reading said to learn to love your losses. The first time I read this I thought ‘don’t be daft’ but now I can see the logic and I’m glad because I know in future not to get in when the chart is flat with little movement. Also lunchtime seems to be a bit flat. Maybe that was just today.

Very interesting and I’m so grateful I can play with the demo and learn

Leigh is also keen to do this course in January. Do we get a discount on the hotel rate if we share a room? By the time January comes I’ll have purchased all your software.

Have a good evening. I fly to the USA tomorrow morning and will then have to get used to another trading time zone Kind regards - Desiree