Monopoly City Streets

EA has launched an online game called: Monopoly City Streets.

Yes, you guessed it, it’s like Monopoly, but instead of only dealing with the normal neighborhoods(Broadway, Pennsylvania, etc), here you get to buy Streets from all around the world.

You begin with $3 million, and the goal of the game is to be the richest realster in the world by 2010.

You can play it  here, but be aware, the site currently worked very badly due to large traffic. I wasn’t able to play. Will try again tomorrow.

The Four Biggest Mistakes in Futures Trading – Jay Kaeppl

Jay Kaeppl is the Director of Research at Essex Trading Company, LTD. He has written a number of books on trading, among which:

- The Four Biggest Mistakes in Futures Trading

- The Four Biggest Mistakes in Option Trading

- Seasonal Stock Market Trends: The Definite Guide to Calendar-based Stock Market Trading

- The Option’s Trader’s Guide to Probability, Volatility and Timing(co-authored with Tom Hartle)

Until now I have read The Four Biggest Mistakes in Futures Trading. It is 115 pages long, so it is a pretty easy and fast read, and you can read the whole book in just one sitting. What the book is about, is, obviously, the 4 biggest mistakes people make in futures trading.

The book is pretty straight-forward in the way it describes the mistakes. No unnecessary material added. Right from the beginning you are being told which mistakes the author considers to be the biggest. These are:

- Lack of a trading plan

- Too much leverage

- Failure to control risk

- Lack of Discipline

Of course, one could wirte a book on any of these subjects, but Kaeppl keeps it simple and to the point.

If you are a beginner in the world of trading, I advise you to pick up, whether you are trading stocks, forex, futures, etc. The mistakes described are essentially mistakes in all areas of trading.

You can find it on Amazon

Verison 1.0

Version 1.0 of this site will contain the following categories:

Forex Bootcamp – information and knowledge for the beginning trader

Advanced Forex – information and knowledge for the more advanced trader

Books – reviews of books I read/have read on the subject of investing

Trading Journal – My personal journey in making a living out of forex

Where your journey starts…

So you want to make a living trading the forex market ?

FOREX stands for FOREign eXchange, and is the largest and most active market in the world. To put it simple, the forex market is where you buy and sell currencies and try to make a profit by correctly predicting the increase or decrease in the exchange rates.

Let me make it clear from the start, forex trading is not easy, it requires a lot of hard work, countless hours put into reading, testing, etc, but once you reach that level where you make money(only 5% of forex traders do, then you’ve got it made. Only then can you think about quitting you day job, and the dream mansion you’re about to buy). Until you reach that level where you are making constant profit( and by this I mean a % ROI / month, which of course is above 3). If you make at least 4% per month you’re great. That equals in almost 50% per year. That’s a very impressive return on investment. Some of the world’s greatest fund managers don’t make so much.  But until then…

You have to put in work. A lot of work. And when I mean a lot, I mean A LOT. You have to read constantly, watch the charts, study them, get to know how the currencies move, how they behave in certain situations(like before and after a NFP release), and so on.

I have been studying the market for more than 3 years. First account I blew was $400, and it only took me 3 weeks. $400 , $1 pip, plain old gambling J . Now I grew older and wise(I want to think), and I have read a lot, studied a lot, and tried a lot in this complex forex world. Complex for starters, because there are so many things you don’t know and so many thinks you don’t understand, but for experienced traders, forex is one of the greatest markets to trade.

The purpose of this blog is for me to share my knowledge trading forex, to show you how I will become a full-time trader(at the moment I’m still holding a part-time job),and afterwards help you become too and how you can make a lot of money as a forex trader.