My trading journal : From 5 to 1000

[along]

nope, only 1 wife but with 6 kids

for ref,

0.10 margin = to 0.05 size

u need to cover only for the wide spread during slow market, too risk I got my account bursted with 21 pips wide spread before, min u need to have margin for 40 pips spread buy and sell both side

 

[RahmanSL]

Whoooh...six kids!!!!...You sure am a busy beaver haven't you?
I only have one girl and adopted another....and also just one wife

You said you have 6 accounts/wives, and I presume with different brokers. I have 3 different accounts and with 3 different brokers/wives....in case one or two bad in-laws, at least I will still have a good one

Ok, thanks for pointing out the many pitfalls to watch out for before I embark on that "risky mission".

All the best!

 

[along]

nope only with one broker, see my pm. difference brokers give difference setting and swap. so not good. I been doing a lot of research, and this is only the best broker for this mission. the rest most of them are cutting the swap for their benefit. the also impose size limit for the trade.
I used other broker only with difference strategy....

great, audchf already look exhausted, strong resistance at 0.9690 level. It's pay back time

c u bebeh

 

[WaveRider]

wave...you have to find 2nd wife

Why do I laugh every time I read this thread?

I want to be a Forex monogamist. I like my broker/wife. It took me months to find her. If I trade conservatively enough, I should be able to get her to stay with me and get her really FAT! My big fat Forex wife/account. Sounds really sexy. Broker/account/wife - maybe I'm getting my metaphors mixed up. My actual wife sees me with Forex wife at night and is okay with our little threesome as long as Forex wife can put out! This metaphor could quickly get out of hand.

I was reading in a book called RULE#1: Don't Lose Money. I didn't read much (was just standing in the bookstore) but that sounds like a good rule. I want to be able to start a thread here at FPA entitled: "How I became a successful trader." The pros say the biggest mental shift a small time trader makes when he becomes big time is to stop thinking about all the profit one can make think about how to not lose what you have. Protect your account. Donald Trump said in his book "The Art of The Deal" "Take care of the down side and the upside will take care of itself." He told this story about how he took Hilton for $220 million in a casino deal because Hilton wasn't prepared for the worst case scenario - the possibility that they couldn't get a casino license (in Atlanta, Georgia if I remember right). They couldn't get the license and he could so he kept offering less and less for the hotel right until two weeks before opening time. They were forced to sell at a huge loss. He bought their $400 million hotel for $180 mil. Sounds like Corzine and MF Global: over-leveraged and not prepared to handle the worst case scenario. I'm trying to approach my trading with a careful mindset. My thinking is if I can just protect what I have by making quality trades with tried and true MM, taking profits early and moving stops to break even using a tried and true strategy, I should be able to be a Forex monogamist and start my thread.

I took a look at Gold many months ago and decided it looked scary and unpredictable. Maybe gold is more of a fundamentals commodity than a technical one? Soon after I wasn't able to trade it anyway.

 

[RahmanSL]

Trading Gold is dicey as I don't think anybody know for sure where price will be in any given week, and with price so high up (over usd1600), it can dropped like a ton of bricks down to the usd400-500 level.
Silver being a precious & commercial commodity is easier to trade and I would take long trades if it goes below usd26.
If you want to trade these metals, then read articles published on various sites (e.g Silver-Gold Prices - Live 24 hours).

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

Reason this thread has not been active is because our friend "along" is now on a top secret money making mission to conquer the forex world.....and, based on what I have seen so far on his top secret files, he is doing very nicely and is already a few steps closer to forex world domination

So, for the time being, I am not sure whether "along" will continue with this thread.

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

As to becoming successful in trading the forex, it's really quite simple. Trade with good money management with a very modest steady 0.5% daily gains over 3-5 years.
If you can do that and not become greedy & impatience, with daily compounded interest on your small capital over a period of time will most certainly and definitely grow into a large account.

Cheers & all the best!

 

[along]

hi Wave and Rahman,

good to hear from both of you,
yup a bit bz lately. I almost finish with the setup and don't worry as I will continue with this thread later. maybe I will use same pin bar strategy as used by Wave, but that require me to put more deposit as the stop loss for daily TF is taking more pips to cover. I just need another week just to make sure everything is in the right path before I can move further with another programs.

I still have gold long at higher price above 1750, I really hope that it does not drop like a bricks mention by our bro here as it could add more pain in the... to me . look like it already find good support at 1600, hope it is going up and up until I can clear all my positions as I just can't bear more running swap on that scrap anymore.

For my favorite pair, AUDCHF the support is still strong right now, I'm hoping to see correction coming by next week as I'm planning to short more on that pair. But have to be careful as the highest price 1.0820 is still a long way to go.

You're doing well with your demo, u should try short with eurzar as this pair has a good swap rate too.

hope you guys doing well with real account, just go slow bebeh.... and u can do it !!!

c u guys

 

[along]

Hi....

Just come back from a long rest, I deposited some money yesterday. scalping eurusd up till today my balance increased from usd450 to usd654.04. I used roboforex this time as they have market execution which is better for scalping compare to exness. I will try to do it slowly, hope I can maintain this account and reach my target . I just finished, attached is my trades for today and yesterday.

talk soon

 

[RahmanSL]

...hmmmm, so now it's Roboforex;yah??...hmmmm...and they are better than Exness for scalping too!
Ok, along my friend, I'll wait until you have made your first withdrawal before I jump in ....just to make sure that's not a crocodile I see in that pond .....no point in both of us being eaten;right??

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

BTW, I thought you are concentrating on that "top secret" trading strategy and is beyond scalp trading? Looks like you have a change of heart!
But be careful yah! You should know by now how easily we can get caught up in being over confident when making quick profits and then making some silly & stupid mistakes and screwing up our account in matter of seconds.

Alright, all the best in your trades!

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

I just went to the brokers review section and, quite frankly, I am rather disturbed by some of the reviews there especially by "Krisna Wijaya, jakarta, Indonesia" dated last Dec'11. And the fact that Roboforex representative does not bother to reply to any of the problems posted by their clients & ex-clients made me even more uneasy in considering them as one of my brokers.

So bro, just be extra careful with this broker;yah! Would hate to see you as one of their victims too.

 

[along]

Hi Rahman,

I just temporary stop using TP at the moment, I think is best to wait for the RBA to make announcement first on their interest rate
status, have to wait until Feb 7 before decide on to continue or just close everything. right now just let the swap run freely into my
accounts.

roboforex...mmmm I traded with them before, in fact I used this broker when I first started with this thread if I'm not mistake.
I have few accounts with them, including ecn. I made a few withdrawal before including the deposit bonus after completed with
their bonus terms and conditions. let me check my LR folder and paste it here....wait

You have received a payment to your account U8537968:
Date: 2011-07-06 20:26:46
Batch: 62826770
From Account: U0897226
Amount: $15.17
Memo: withdrawal ID 121927, acc 630886 A

You have received a payment to your account U8537968:
Date: 2011-15-06 15:45:04
Batch: 63414133
From Account: U0897226
Amount: $20.22
Memo: withdrawal ID 126935, acc 234669 A

You have received a payment to your account U8537968 (mae4206):

Date: 7/18/2011 12:52 PM
Batch: 65738639
From Account: U0897226 (RoboForex)
Amount: $663.99
Memo: Withdrawal ID 153100, acc. 234669

You have received a payment to your account U8537968:
Date: 2011-25-07 08:16:27
Batch: 66248985
From Account: U0897226
Amount: $69.69
Memo: withdrawal ID 160663, acc 234669 A

You have received a payment to your account U8537968:
Date: 2011-27-07 13:00:36
Batch: 66455615
From Account: U0897226
Amount: $71.93
Memo: withdrawal ID 163461, acc 234669 A

I still I got more on the list, I start again with this broker after find out that they increased the deposit bonus from 30% to 50%.

ok I will update this thread later...

talk soon

 

[along]

hi,

just quick update on my account, struggled at first had a big drawdown I think up to 60%, managed to cover everything
with profit at the end. fuhhhh lucky . bring my account balance from usd654.04 to usd708.73. Attached is my trades for
today.

Rahman, about the withdrawal, if my account is ok I will try to withdraw some profits on Friday..


be back tomorrow.....