My trading journal : From 5 to 1000

[along]

Account type : Pro-cent
Deposit : USD 5
Target : USD1000
Methods : Scalping & hedging
Date start : 29 June 2011

This is my first journal, This is just for fun with deposit usd 5, I will try to reach my target usd 1000. I will post the details here for sharing purpose.
I will keep on posting my trade as long as my account can survive the volatile and crazy market.

DAY 1 : 29 June 2011

 

[along]

my A/C Summary:
Previous Ledger Balance: 0.00 Floating P/L: -123.00
Closed Trade P/L: 429.20 Total Credit Facility: 0.00
Deposit/Withdrawal: 625.00 Equity: 931.20
Balance: 1 054.20 Margin Requirement: 866.27
Available Margin: 64.93

 

[along]

Day 2 : 30 June 2011

Start increasing my order size to 3 lots. Have a big lost due to the hedging. I had made several mistakes but manage to overcome it. Overall my account are still doing well

 

[along]

Day 2: a/c Summary

I still have open hedging positions

buy 3 lots audusd at 1.07324 with losses -378
buy 3 lots eurusd at 1.45164 with losses -615
sell 3 lots audusd at 1.07174 with losses -180
sell 3 lots eurusd at 1.44821 with losses -477


A/C Summary:
Previous Ledger Balance: 1 054.20 Floating P/L: -1 698.00
Closed Trade P/L: 2 091.49 Total Credit Facility: 0.00
Deposit/Withdrawal: 0.00 Equity: 1 447.69
Balance: 3 145.69 Margin Requirement: 756.72
Available Margin: 690.97

 

[along]

DAY 3 : 01 July 2011

Manage to close all my open position with good result. I decide to go long with Gold and Silver. hope the price will go up soon

 

[along]

DAY 3 : A/C Summary

Have a floating profit from gold and silver, if the price move up further my account can easily touch usd 50


A/C Summary:
Previous Ledger Balance: 3 145.69 Floating P/L: 102.00
Closed Trade P/L: -62.36 Total Credit Facility: 0.00
Deposit/Withdrawal: 1.59 Equity: 3 186.92
Balance: 3 084.92 Margin Requirement: 1 251.07
Available Margin: 1 935.85

 

[along]

DAY 4 : 4 July 2011

I made very big stupid mistake.

sell 5 eurusd at 1.45183 with take profit 1.45111
sell 5 eurusd at 1.45122 with take profit 1.45111

the price moved to 1.454++

to stop the losses I bought 10 eurusd at 1.45429.

I leave it floating with losses around 20 pips as I need to go to work thinking of cover it back afterward. I forgot that I already set take profit for the sell order. when the price start retrace to 1.45111 all my sell order are closed leaving with the buy order running without cover. I loss everything total around usd 66 after 4 days trade. still got balance cent 300 in my account. . not sure if I want to start all over again with this 300 cents.

 

[RahmanSL]

"I loss everything total around usd 66 after 4 days trade. still got balance cent 300 in my account. not sure if I want to start all over again with this 300 cents."

And why not?

Didn't you wrote at the start: "This is just for fun with deposit usd 5, I will try to reach my target usd 1000."??
That doesn't sounds like you having any fun now!
Instead of dwelling on the losses (which is due mainly to impatience to meet your target fast in the least number of days), take a breather...step back, reflect on your mistakes, and have another go in achieving your target in...say...44 trading days (2 months).

Taking a cue from you, I have also started trading on a remnant micro account with a balance of usd 487 cents.
Also like you, I will attempt to bring that account up to usd1,000...but over a period of 44 (or more) trading days, and (of course) without too much interference to my main trading accounts.

Have some fun, and don't be too serious with a micro account; yah!

 

[Romeo]

"I loss everything total around usd 66 after 4 days trade. still got balance cent 300 in my account. not sure if I want to start all over again with this 300 cents."

And why not?

Didn't you wrote at the start: "This is just for fun with deposit usd 5, I will try to reach my target usd 1000."??
That doesn't sounds like you having any fun now!
Instead of dwelling on the losses (which is due mainly to impatience to meet your target fast in the least number of days), take a breather...step back, reflect on your mistakes, and have another go in achieving your target in...say...44 trading days (2 months).

Taking a cue from you, I have also started trading on a remnant micro account with a balance of usd 487 cents.
Also like you, I will attempt to bring that account up to usd1,000...but over a period of 44 (or more) trading days, and (of course) without too much interference to my main trading accounts.

Have some fun, and don't be too serious with a micro account; yah!

20000% in two months! Not a modest target at all!!!
What is your trading style?

 

[RahmanSL]

"20000% in two months! Not a modest target at all!!!
What is your trading style?"

In actual fact, in my case (usd4.78) it would have to be an increase of 20,533.88%

Indeed, exactly what's my trading style to achieve that fairly large percentage gain in 44 trading days??
...hmmmmm....weellll....ehhhh...scalping (more like scrapping), semi-scalping, and position trading.
First I will have to "scrap like hell" to build the account to usd100. Once I have reached that level, it should not be that difficult to make larger gains with carefully thought out position trading.
My biggest challenge here will be to control opening one too many trades and keeping the account balance within a safe margin level at all times.

Hmmmm...after running calculations through...hehehe...looks like I will have to extend the time frame to 6-8 months (i.e 132-176 trading days).