My trading journal : From 5 to 1000

[along]

Kaya tu tidak ler Rahman, jalan2 cari makan je.... I still playing with this audchf, audjpy, audusd, still doing good today. got some at lower when the price retraced. bought audchf at 0.8120 average, add another audgbp and euraud to my portfolio, so far everything OK.

I already deposited my account with 5 dollars yesterday, but too lazy to use it right now. have to wait until slow down with my standard and micro accounts. I still skip trading with eur and more focus on Aud pairs.
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Changed my mind, decided to enter trade for my cent account, 2 trades on eurusd, first I sold, not look good, start hedging with bought order.
Closed all with positive result. lucky I made a right decision.

scalped 1 more eur at 1.43957 closed too early at 1.44037, and the price rocket again to 1.44230.
Now I have balance usd 741.55

will continue tomorrow, time to rest

 

[along]

Day 2 : 17082011

Not much today, sold AUDUSD and bought GBPAUD, closed all the trades with good profit. Still holding 2 open positions AUDUSD and AUDJPY with some loss, will try to close it tomorrow.

Account balance usd 1188.30

See you...

 

[RahmanSL]

Not bad profits at all, along : )....but still a long2 way to go to usd1k....however, do not rush it or else you know what's going to happen;right? : )

I have attached a screenshot of that micro account I was telling you about. Hmmmm, as you can see, I have deposited more than usd5k already and lost more than usd4k...my challenge now is to bring that back up and make some money from it.

All the best in your trades!

 

[along]

Day 3 : 18082011

Hi Rahman,

look ok with your account, a lot of positive trades. But higher amount of lost on small trades. same problem with me. I have a few negative trades compare to hundred positive yet I still lost the account. One of the reason I keep holding on to negative one hoping that the price will turn back to me.

Today same mistake happened again to me. I lost my account with instaforex, not much about usd 150, over bought on AUDCHF and AUDUSD. Keep on buying when the price keep moving down, and lost everything at the end.

I almost lost my standard account too, have usd 700, buying AUDUSD size 0.4 at average 1.4750, and Audchf 0.15 at average 0.8330, just now my balance left about usd 150, lucky the price start coming back, and now are doing at usd 350. will try to hold it as long as I can, hope to recover back soon.

My cent account, still stuck with audusd, buying 1 lot at 1.0455, also will try to hold it until profit. attached is the screen shot.

Cent account balance still arround usd 1200

Hope you can slowly recover again your 4k. All the best for You and good luck.

 

[RahmanSL]

along, your micro account still looks ok...keep it up and you might just attain your usd1k target : )

Hmmmm, a good piece of advice from me who has wiped out accounts many2 times.
Don't ever, or try to retrain from following price when it drops lower as it can keep on dropping and getting your account into serious trouble. Only exception to this rule is for Silver (and not for Gold in these uncertain economic times), but then only if the price is already at the usd34 & below level.
It's much better and safer to follow price trending upwards as currencies cannot appreciate significantly enough to threaten your account. But refrain from doing this with Gold, Silver, and Oil.

I am up 199.87% on my micro account and averaging 19.99% daily on 10 days trading (including today) with 986.01% margin level. If all goes well and I retain my patience, I expect this micro account to do ok through this week.

All the best in your trades and do be careful out there;yah!

 

[RahmanSL]

Hi along! How was your trading week?

Gold hit new heights, as did GBP/CAD & USD/CAD...and Silver went hair wired too.
All in all, it was an okay week for me as my micro account is now up 210.06% over 11 days trading, and averaging 51.57% weekly gains.
Heck!...hehehe...if I do manage to keep this up, I will have 2,681.82% gains in 53 weeks and my micro deposit of usd333.33 will become usd8,939.31 : )
However, I have too many opened losing trades, and my margin level is at a not too comfort zone of 332.11%. I should sit on my hands next week until my account is above the 500% mark.

Have a restful week!

 

[along]

Hai Rahman...

mmmm ... last week not a good day for me, lost my insta account, my standard account and cent account, 3 in 1 hehe. have to start all over again, my mistake, to much open trades at the same time I did not control the size.

Good you trade with silver and gold. silver is doing very well right now, I'm really gonna miss this stock. I have a strong feeling that silver will go up some more. I still have usd 3 in my standard account on friday. received usd 3.96 rebates for last week trades, so have my balance around usd 6.27, today my balance increase to usd 15 after a few trades, I will attach it here, at the moment I will use this account to continue my journey.

This is the account summary for last friday trade, is not updated yet.

A/C Summary:
Previous Ledger Balance: 7.09 Floating P/L: -0.82
Closed Trade P/L: 0.00 Total Credit Facility: 0.00
Deposit/Withdrawal: 0.00 Equity: 6.27
Balance: 7.09 Margin Requirement: 1.44
Available Margin: 4.83

good luck Rahman

 

[WaveRider]

keep it coming

Hope you guys haven't stopped.

Sounds like everyone here is way over leveraged. Not being critical but when I look at my own drawdowns and try to be analytical about how to improve, using too much leverage will crack your account even in a winning strategy. 5 to 1000 is like saying how can I make 2000% in a short time. A solid 10% per month would get you a great paying job at a bank or other private institution.

I guess the idea here is "it's only 5 bucks, who cares." Either way, keep it coming.

 

[along]

Hi,

just got back from a long rest, I think I will continue again with this thread, I will try difference approach for my trade. thanks waverider, u r right it's just 5 bucks, I don't care too, but worth of trying.

I will deposit some money by tomorrow, maybe just a small amount as usual, this time I will focus more on 5m and 15m TF. I will try to go with longer trade using SMA 20/50 AND EMA 20 and BB. my focus is still more on EURUSD and gold.

I also changed my broker, this time use instant execution, its hard to scalp the market using this but I will try my best. not sure if I learn something from the past be patience...

c u

 

[WaveRider]

this is a good idea

I've been tempted to do just this. post all my trades and explain why I'm doing it. This would be a big help in finding holes and inconsistencies in my strategy. I really don't have consistent time with work school and family. This takes balls. Everyone is staring right at your mistakes! Thanks guys. I'm still following this.