The 5%

95 % of traders lose money (had a drawdown of 7.8% over the Summer)...I am beating the return one would get parking in an Wachovia savings account!!! Big step forward.

I had a record 4 winning trades in a row but two very bad trades last night...it's all a numbers game. Even if I have a 1-1 win-loss rate...I'll still but up due to risk/money management. Risking 1 to make 3.

Total account change (been live since January): +8.8%

As of today...I am part of the rare 5%!!!

New Venture

I am in the process are creating a new site for forex broker review...with friend/business partner Josh Staab of Carolus Apparel. We should be launching in the coming month.

Right now it's underwraps but I'll keep ya'll posted.

Trading is going well!

Total account change: $101.69

*Averaging $12/month

How to become a trader for a forex hedge fund

Yesterday's Forexmentor Coach's Corner was held by Jarratt Davis a twenty something who is a currency trader for Wealth Builder FX. A question was brought up...how does one become a trader for a fund?

To sum it up:

• Risk Management is the #1 concern for funds (risk no more than 1% per trade)
• Consistantly make 5%/month on own account for at least 6 months
• Have the account audited
• Show results to fund
• Chances are...you'll get a fund/introducing broker to fund your trades

As of today I have broke even with a solid trade on GBP/USD

Total account change: $28.04

*Averaging $4/month...big money