My trading journal : From 5 to 1000

[along]

yes Rahman u r right, I did have fun with it, just a bit disappointed because I'm careless not because I'm impatience, it's more noble if i lost it during a good fight with the market.

Romeo must die huh? haha. it's a good target. My account already touch 100 if not because of the mistake. I'm buying silver at 33.80 and gold arround 1.4980. and silver goes to as high as 35.7 yesterday. if not because of the margin call sure can do one.

OK it's just 5, I will continue with the same thread, 2nd deposit by next week, need a rest first, still got another account to monitor too.
this time I will follow u guys and do it slowly.

 

[RahmanSL]

Silver & Gold can make you BIG bucks, but at the same time can burst your account if you are on the wrong side of the market.

Don't forget both metals are in correction now (more like the big players are playing with the market) but their prices are expected to shoot up some time in the near future.
I will be keeping an eye on market sentiments and hope to catch the uptrend when that happens.

P/S: As a matter of interest, that micro usd4.87 account of mine is now usd7.75 from yesterday. I will have to slow down on my trading somewhat as the margin is dangerously low due to falling eur/usd today.

 

[along]

I use to average down all the negative trades and screwed up my account. Now I try to stop doing that instead of average down, I will try to hedge the negative trade, have a break and comeback with a fresh mind and try to recover back the losing pips. I will try to limit my lost around 5-10 pips by hedging because I hate closing the negative trade.

I will try to limit my order to 1 trade/time for easy monitoring and normally with a big size. I'm not worry about the money management, all that I need is the right time to close both trades (sell & buy ) with positive result.

 

[RahmanSL]

Yes, I do hedge losing trades some times. But I do not like having to wait for reversal (which can at times take days & weeks) before having sufficient free margin to make further trades.

Hmmm, maybe I should have hedge those losing trades on that micro account as it got wiped out while I was away and the account balance is now down to 2 red cents.

Ok, all the best in your continued trading to turn your usd5 to usd1k.

 

[Romeo]

yes Rahman u r right, I did have fun with it, just a bit disappointed because I'm careless not because I'm impatience, it's more noble if i lost it during a good fight with the market.

Romeo must die huh? haha. it's a good target. My account already touch 100 if not because of the mistake. I'm buying silver at 33.80 and gold arround 1.4980. and silver goes to as high as 35.7 yesterday. if not because of the margin call sure can do one.

OK it's just 5, I will continue with the same thread, 2nd deposit by next week, need a rest first, still got another account to monitor too.
this time I will follow u guys and do it slowly.

Don't kill me for just asking a question!!!! My trading is very conservative and I am happy with anything in the positive range of 5-20% at the end of each month!
Looking at your numbers made me feel a shame of myself!
But I am not trading metals or exotics... I stick to the very normal.
Maybe I should try to swim in dangerous waters on a demo account and see if I can increase my profits.

 

[RahmanSL]

Romeo, why should you be ashame of your trading style????

Conservative trading is good! Just trade your own style which you are comfortable with.

I (and I suspect along too) am just not satisfied with small gains and so simply rush in (impulsive trades) and get shot (margin call & account wipe out) in the process. For my trading style, I require a huge account balance with high leverage...but for now, I believe I am not ready to go to that level just yet!

Trading conservatively is the wisest way to make money in forex, and those modest gains will add up in time....but do make sure you have a reasonably good and trustworthy broker;yah! It will be really frustrating to trade all these time only to discover it's a "deposit only" broker when you want to withdraw money.

 

[along]

hey guys, just want to share with you. talking about conservative, I do have account which I play just for the swap rate. I just put usd500 in there, buying gbpaud 0.2 just sit and doing nothing. every month I can collect usd90 just from the swap rate. 5 months is almost cover the deposit already.

aussie is doing well, no major bad news so far, and the interest is the highest among major currencies. but must have a good broker with a good swap rate.
my broker is paying about 1.5 in average, if u can find any broker who pay higher than this just let me know.

at first I want to hedge this swap with Islamic swap free account. but need a lot of money as I'm not rich so I cancel it. U need to deposit both accounts, set SAME SL and TP for both trades eg. 200 pips, let it run and enjoy the swap rate. when it hit the SL and TP, you reenter again the trade again and again and enjoy the swap.

since aussie is doing well I don't think I need to hedge it. this is 100 times better than fixed deposit, because we are using the leverage and take advantage of it.

have a nice day

 

[along]

I'm back

I will start again with second deposit probably by tomorrow. hope can continue with this thread again as I'm quite busy lately maintaining other accounts. well have to give 100% commitment when scalping the market.

And if I do, I will use maximum leverage. hope can make it this time. will start with 3 lots first, very high risk trade as a single 20 pips spike can kill me without notice.

One more thing, for reference. I just won a contest from mmcis. 1st place on 20 July, get 200 deposit to my real
account, it's a daily contets s**t I don't copy the detail of the transactions. when I try to get it the next day my account already
disable. think I should have another journal just to record all my activities with the contest accounts.

they did deposit my account with 200, I don't know what language they use, the problem is, I cannot use that bonus, just found out that I have to put minimum
500 deposit to activate the bonus.

have a nice day

 

[RahmanSL]

Congratulation on your win! : )

…hmmm, so now all you have to do is deposit usd500 into that account to get your usd200 winning; right? And then all they (broker) have to is to “help” burst the account or, in the event that you managed to make money in that account, to quote you one of their ambiguous “Rules & Regulations” which is designed specifically to prevent you from withdrawing any money.

I took a look at the writing on your account, and last time I saw such writings was on the space ship control panel of that movie “Alien Vs Predator”.
Guess MMCIS must be a pretty sophisticated and advance intelligent broker; yah?? https://www.forexpeacearmy.com/forex-forum/images/icons/icon10.gif

 

[along]

Day 1 : 25/7/2011

yes rahman, I think I just let it there for display only. I'm not going to put any deposit for now, unless if I win another weekly or monthly contest. how was your cent account doing now ? any good result

I deposited 500 today, plus with 25% bonus I have 625 in my cents account.
start trading about 2 hours ago, now finished and I think that's enough for today. I just feel so tired need to get some rest


A/C Summary:
Previous Ledger Balance: 0.00 Floating P/L: 0.00
Closed Trade P/L: 1 005.60 Total Credit Facility: 0.00
Deposit/Withdrawal: 625.00 Equity: 1 630.60
Balance: 1 630.60 Margin Requirement: 0.00
Available Margin: 1 630.60