Post #16441 by Mark on the Berkshire Hathaway board

Stocks A to Z / Stocks B / Berkshire Hathaway (BRK.A) ❤

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The forex markets are, within the finance world, the closest thing to a random number generator that I've encountered.
To be honest I've made literally millions doing forex trades, and it scares the heck out of me. I don't do that any more. Being lucky is better than being smart, and it's wonderful to finally realize you were lucky and stop pretending you were smart.

I know a guy who used to trade forex for a central bank that held tens of billions of reserves in various currencies. At the peak, he managed well into the 9 figures. He was a pretty good trader. He told me that the main secret is to stop yourself out IMMEDIATELY on any trade that didn't work out the way you expected. I suppose better to take ten quarter cent losses and one 4 cent gain and have a net gain over that period.

I've never traded forex, I think it would be way too stressful to me.

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