~PIP'n aint Ea$y~

[lisg]

Mr WB,

I 4x traded for about a week. Treated my account like it was real money. Lost on about 80% of my trades. Began trading with the Vegas Tunnel method. Kept getting stopped out. Started to include trend line trades looking for bounces at areas of resistance. Would make a few good trades, but usually stopped out. All in all, I lost about 1.5% based on the $ amount I had at risk in the market.

Here are my takeaways:

I don't have the TA or fundamental skills to find favorable setups.

I am not comfortable with the amount of leverage used in 4x. Seems like a six sigma event would come along eventually and my stop loss wouldn't matter. Oanda had some verbiage in one of their new account documents that didn't make me feel real comfortable.

How to handle tax reporting is not clear.

Bottom line:

I am going to take a break from 4x. Won't be too hard, cause I'll be out of the country with very limited internet access. When I get back, I may be around. Really depends on if I want to tackle understanding this part of the market.

Regardless, thanks for being friendly about learning the 4x markets.

-lisg