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The Journey of a thousand miles begins, with a single step. Reign's Journey

Discussion in 'Personal Trade Journals' started by ReignMan, Mar 17, 2012.

  1. ReignMan

    ReignMan Private, 1st Class

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    Hello there,

    It has been quite a while since my last visit to this site. It's been so long that I have forgotten my screen name and password so I had to create a new one.

    I've been fooling around with forex for a couple of years now, off and on. I would lose all of my money and say I was done, but the fact that I know I have the potential to do better keeps driving me back towards that MT4 platform. So, with that being said, I'm back, and this time "Greed", being the key word here, is no longer a factor. No, I don't have $5000, or $10000 to start an account with, lol, so this should be interesting. As I grow into a famous trader, you all will be able to witness my progress first hand. That being said, it feels good to be back home.

    Later.
     
    #1 ReignMan, Mar 17, 2012
    Last edited: Mar 18, 2012
  2. RahmanSL

    RahmanSL Major

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    Welcome back to the FPA!

    "The Journey of a thousand miles begins with a single step."
    Yes indeed, that wise old saying was thought up by a Chinese guy.

    ....and having ample supply of Gold, Silver, and tradable goods with heavily armed security escort would make the journey more comfortable and secured.:p
    Same with trading the forex! If you don't fund your account adequately, and chose a trusted broker, you are in for a rough ride and become penniless from highway robbers.

    I have perhaps written this at least half dozen times here and elsewhere.
    Don't try to make usd200-500 daily profits from a usd1,000 account. You might get lucky and managed to get that a few times, but ultimately, the odds are just too highly stacked against that being a consistent achievement.
    If you want a daily usd200-500 profits, then have at least a usd10,000 account as that daily profits represent between 2-5% of your capital.

    I honestly have lost count of how much money I have invested and lost in my multiple accounts with various brokers, but I am still here.
    For me, forex is it! There is no turning back and I am here for the long haul. I am not a full time trader, but just an ordinary run of the mill businessman. But I am thinking of retiring end of this year or first quarter of next, and probably trade the forex full time...or when I feel like it. I believe I have developed a slow easy system of trading the forex successfully and have purged the 100%-800% daily profits mentality of yesteryear. These were high expectation, trilling & intoxicating times! But reality of accounts wipe out is a sobering affair but I just shrug that off and try again.

    Is losing all that money worth it?? I have to say "yes", because I have learned valuable lessons which one cannot get from being over cautious and fearful of losing.


    Have another pleasant, enjoyable, and profitable journey once again...and good luck!
     
    #2 RahmanSL, Mar 18, 2012
    Last edited: Mar 18, 2012
  3. ReignMan

    ReignMan Private, 1st Class

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    RahmanSL,

    Long time no see my friend. Yes, you're absolutely right, and I love the signature quote, made me laugh. More to this in a sec, but more importantly, does anyone else notice the breakout opportunity with the usdchf and the eurusd? I may not be totally accurate with my assumption, but it's looking like the usdchf is getting ready to head towards the moon, while the eurusd is going to skydive down towards its normal rate. I'm up, excited like a little kid before Christmas, Hanukkah, etc.

    Lets see what happens. Stay Tuned.
     
  4. RahmanSL

    RahmanSL Major

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    Hi friend (don't know the name you used to used, since you also cannot remember :p)

    EUR/USD: Look at the 1H chart and you will see it's attempting to make the head & shoulder at 1.305 area (refer Sive's post on this pair)
    As for USD/CHF, I guess it's just that the USD is rather strong since end of last week after getting some "good" economic news.


    P/S: You remember ant thread/post which you have posted since you were last here? I can check back and try to figure out your last identity:p
     
  5. Pharaoh

    Pharaoh Colonel

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  6. ReignMan

    ReignMan Private, 1st Class

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    That surely is, lol. Wow, and yeah, the name is actually Reign ( Don't laugh). Oh mighty Pharaoh, is there any way I can just get rid of the other one? I kind of like ReignMan better. ;)

    Sidenote:

    The EURUSD, RahMan, man, lol, I was totally wrong. As I said I'm still learning, which is why I decided to use my demo account for the next 5-6 months. I didn't even cross check the 1H, I was using the 15Min & 30 for a reference. I was totally oblivious to the head and shoulder pattern. I created breakout lines at the highest high and lowest low for the channel it was currently going through around 9pmEst, the same was going for the USDCHF. I jumped the gun a little too early, and should have waited a little longer to get a close about 15-20 pips above my breakout lines.

    We live and we learn.

    The Power of the Demo never fails.

    Reign
     
    #6 ReignMan, Mar 19, 2012
    Last edited: Mar 20, 2012
  7. Pharaoh

    Pharaoh Colonel

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    Send a note off to AsstMod and ask him to combine your two accounts.
     
  8. WaveRider

    WaveRider Sergeant

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    That's all it takes? I used to log in as Sive Morten I think but I can't remember anymore. Can you merge my newer lame account with my older very cool one?

    Good luck ReignMan.
     
  9. ReignMan

    ReignMan Private, 1st Class

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    Hey Guys,

    Finally after about 2 years of headaches and heartbreaks... I think I'm finally getting the hang of this. I hope everyone is doing ok. Just thought I would take the time out to speak to you guys since it's been a while. I'm starting up small. EURUSD, and that's it. I know some of you won't agree with me just focusing on one pair right now, but I would rather lose my money on one chart instead of 3 or 4 lol.

    I'm using MACD, Moving Average, Parabolic SAR, Force Indicator, and even the qqe adv. Hell, I'm even using the Forex Rebellion EA (which doesn't purchase or sell trades, it just gives off a signal when an opportunity is there.) That being said, my screen literally looks like something from The Matrix, but this time I'm not taking any chances. Got to start making something here eventually.

    So, that being said, wish me luck so that I may lose my "Newb" status finally.

    Cheers,

    Reign
     
  10. ReignMan

    ReignMan Private, 1st Class

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    Currently looking at the EURUSD to go Short here in a sec, is anyone else noticing this? Or are my indicators off?
     

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