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How much profits do you expect to get back from a USD20,000 trading account?

Discussion in 'General Forex Talk' started by RahmanSL, Jul 27, 2013.

  1. RahmanSL

    RahmanSL Major

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    Not very much trading today....also very cautious since losing "fun' Exness account yesterday...managed just over 3% profits over total account balanced of just over USD13k on both AxiTrader & ICMarkets.


    Been playing short positions on EUR/USD on the rise, and long on USD/JPY & AUD/USD on the dips which were pretty deep.

    On secondary account, taking shorts on EUR/ZAR....closing out some profitable positions but re-entering on the rise. Will maintain as many short positions as safely as possible for the treble positive swaps today.
     
  2. LoRio

    LoRio Sergeant

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    ooo Exness . yeah. Fun aint it ? :D
    i want to register 2 additional accounts now ,
    one "humble" on oil , and an extreme one on oil.(Light Sweet Crude).leverage is capped there though.
    Swap cookie, back when silver was going up and down ,not just down,and it had a strong corellation with
    Xetra Dax,the german index , you received overnight rollover swaps for shorting dax and rollover swaps for going long
    silver.
    So , with care , you could develop a swap vacuum.
    with care means , yeap , it broke when i attempted to. :)
     
  3. RahmanSL

    RahmanSL Major

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    My thoughts on JPY/USD:

    The weak Yen helped better profits for Japanese exports as reported in FXEmpire: " A total by the brokerage found that the combined net profit of 587 firms listed on the TSE’s first section was ¥3.12 trillion, about 2.8 times more than a year earlier when corporate earnings were affected by a stronger yen and the European debt crisis".

    With stronger Yen, Japanese companies are probably placing forward orders for their essentials...oil/fuel, ores, wood, food, etc.....
    Problem with strong Yen is that it is now bad for exports, but once the Japanese companies have locked-in their forward orders, the Yen will weaken...maybe not drastically, but substantially enough to make their exports more competitive in the world market.


    For me, I am still taking longs on any meaningful dips on the JPY/USD.
     
  4. RahmanSL

    RahmanSL Major

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    Is it only me or is the EUR suspiciously over valued against the USD??

    I might be wrong, but the EUR/USD might do a sudden dive taking out many long positions....could have a lot to do with the EZ & U.S.A playing their currencies for their own mutual benefits.
     
  5. Pharaoh

    Pharaoh Colonel

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    I think the USD and EUR are both suspiciously overvalued against each other.

    When people quit falling for the "trust us, everything is fine" line from the governments involved, expect a race to the bottom.
     
  6. RahmanSL

    RahmanSL Major

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    This is indeed an extremely slow Friday for me....think I will take some time off to play something else!
     
  7. RahmanSL

    RahmanSL Major

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    As I have said, it was indeed a slow Asian session.
    After pre-setting some short pending positions on EUR/USD, I went to play something else....for those not familiar, today is the second day of my country's national holiday, to mark the end of Ramadan (month long fasting period) called locally here as Hari Raya Aidilfitri or known in the middle East as "Eid al-Fitr" (festival of breaking of the fast)...and went visiting and renewing ties with long time friends & families...and it can be quite a challenge eating & drinking in seven different houses.

    After coming home, which was just past the European session, I could close quite a few positions that were in profits...the most profitable ones were in second account with ICMarkets which gave me almost 5% profits over total account balance. The primary AxiTrader account didn't do that well with less that 1% profits over account balance.
    I have no more open positions in secondary account, but have a few in primary account waiting to be closed as soon as they go into profits.
     
  8. RahmanSL

    RahmanSL Major

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    It's report card time:

    I will not post detailed statements for now and shall do that only after 3 months of continuous trading.

    Based on my live AxiTrader account profits percentage of 63.23%, I don't have to make any more trades for the entire year now because I have already achieved more than the monthly 5% profits gain.
    The Great Pharaoh will have to make preparations to send those bonus concubines to me :p

    ================================

    This is a repeat of what I have posted at DonnaForex site:

    There seems to be more technical analyst than traders and all making it more complicated than it really is to trade the forex.
    Why do we have to trade gold when its so volatile and obviously being manipulated by the big boys?

    I really don't set target profits when I trade. After researching what's tradable for the coming week, I simply trade as I see market movements and make whatever I can from each trading session. At times it can be quite high....even up to 80% of account balance...but most times it will be between 2-5% at a nice comfortable and safe pace.

    Trading the forex should not be complicated. We have to be practical and sensible about doing it.
    Remember NASA space program? They spent millions developing a pen that can be used in space (which later was used for underwater writing and other earthly application) while the Russian solved the problem with a few cents pencil and salved millions of R&D money.
    What I am saying is, make trading the forex as simple as possible which will make you daily profits. No need for complicated indicators, charts, EAs, and other gizmo to make trading more complicated and confusing than it should be.
     

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    #58 RahmanSL, Aug 9, 2013
    Last edited: Aug 9, 2013
  9. RahmanSL

    RahmanSL Major

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    After reading & digesting various technical & fundamental analysis around the bloc, for next week trading I will play short EUR/USD & long USD/JPY on main account, and play exclusively exotic pair on secondary account.
     
    #59 RahmanSL, Aug 10, 2013
    Last edited: Aug 11, 2013
  10. arexa

    arexa Recruit

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    20k is big for you and I agree that try not to lose that 20k. :)
    I am new to Forex but I think making that money doubled in 3 mos time is great already.
     

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