I’m starting to get nervous were coming down to the wire. With only one more trading week to go for my fiscal year. My primary account is up 588% my secondary account over 125% This last year has been a great learning experience.Probably the biggest and most important lesson is to stick religiously to the trading plan that I know works and still have enough flexibility to read the markets. New traders need to understand that trading is difficult but I’m proof it can be accomplished. Wishing you all a prosperous trading year, Allen
Hi Allen,
Have you got a post elsewhere on babypips that discusses your strategy/timeframes etc?
cheers,
JN
Nice bro, all the best for next year. Isn’t it ironic that to trade forex you must be both rigid (to stick to a plan) and flexible ( to adapt to the markets) at the same time. A very good lesson
It’s all a game though, like any game (let’s say poker, or fishing), there are ‘rules’ (or a plan) that you follow, but you’ll adapt depending on the hand of cards you’re dealt or what fish are biting at the time.
[B]OR[/B] it is a [B]business[/B] like any activity that makes you an entrepreneur e.g. opening a steak house, or a shoe store, or running a small or larger company of any kind, the list goes on.
That’s a more sustainable way to think of forex than considering it to be a game*.
*this can become a really long conversation, i.e. life is a game etc. just pointing out a different perspective
No matter what you call trading a game, a business, a vacation/work trip, It’s the same principle. Make a plan that over the long run will give you more positive results based on the probabilities, apply the money management plan that protects your capital and builds your balance then trade your method, with your money management plan using patience and discipline. It’s easy to be patient and disciplined with the market is in a nice looking trend, but as we all know, sometimes it’s not and most of the times, especially on lower time frames, it’s not so easy to be patient and disciplined. But as time goes on, if you keep an ongoing record and review your sessions, you start to see a pattern, make a plan, follow the plan and review the plan makes it much easier as time goes by to not only spot the opportunities to make more pips or meet your Percentage goals; but you also spot the opportunities to save your pips or your account balance by staying out of less promising trades.
Hope all your years are as prosperous as your 1st.
Best Wishes and Continued Success
Gp
Congrats on your great trading year! It’s not easy to find (and stick to) a trading strategy that works for you. Good luck on your next trades! 
ok,
it is high time the 713% (588+125) strategy is shared.
Thanks in advance
I post some information here that seems relevant. Everything can be found at my trading Journal atHome Or on my YouTube channel
For your trading to succeed that absolutely must be treated as a business. You have to have focus and determination. The closest analogy I can think of would be like Tiger Woods when he was in his prime. When he was not out playing golf for money he would be practicing and till all hours of the night. Spending several hours on his home putting green practicing over and over and over.
Yeah, I have seen trading likened to taking sweets from a baby.
Not sure much focus or determination needed for that particular exercise, but there you go.
Etfak, can you figure out the way to Easy Street?
The previous post had talked about a trading plan and being disciplined, but also having flexibility, that was the point I was talking about with having flexibility to deal with whatever the market throws at you.
I should have used the term “Performance Based Activity” instead of game, but didn’t want to sound like a ****.
that’s the closest thing to Easy Street in my knowledge: Bruce & the E Street Band, would greatly appreciate it if someone can fill in the 4 missing letters
[video=youtube_share;hf61K6ZKu_4]http://youtu.be/hf61K6ZKu_4[/video]
Hello,
Thanks for posting up, i looked at your website and i saw ATM tool , i see alot of people talking about “watching for the orders building up” and “overflow” , do you have a link to this tool please as i am assuming that this is how you see the buying and selling orders building up ?..if so then its a great way to assist with when to and not to enter a trade.
Cheers
I disagree unless you are talking about binary options, serious forex trading is not a game and you shouldnt treat it like one. You dont get cards dealt , you get to look at sets of cards and pick one to work with (or more) you get several options of prediction although this years few crises (minor ones if you ask me) from the emerging markets to the maylaysian boeing over ukraine (which is a minor crisis for the financial world thats already been retraced, note that i dont speak about the suffering and human loss involved) but you have to take those into account, either by stop loss or by other means.
Forex is not gambling although if its true that the U.K. thinks it is … well
580% is whopping man, traderbary
I dont wanna get your details and you should never post exact amounts in public, especially if you’re succesful but i wonder if you care to share how many trades you did in one year on your ‘main’ account
I got a like a 120% increase on my demo in about five months, and a 54% on my ‘main’ in about january 1st to today (july 24), the other few accounts i keep are like just for practicing pairs im not used to following, im mostly monogamous lol, even when it comes to forex ive been sticking with one crosspair for about the whole time. Only recently on a demo i have been starting to place trades on other pairs (feels a bit like cheating my old trustee) with a decent amount of success if i may say so
i keep a detailed statement of the demo (updated weekly at sydney closing time or the next day saturday) here : IPCAM 1
its no holds barred, only crazy men trade like that, or very confident ones but so far i havent burnt out and got like from 4k to maybe 11k by the end of july, starting mid february this year.
I dont keep any record of my main account online since thats nobodies business. I stay home 5 days a week close to my pc, just for this, i never use automation, i never use E.A.s or holy grail systems. I get lack of sleep by friday evening every week, i intend to make this work, i have always been convinced it can be done. And just like you it seems i’m on track. I pick what theory suits me and discard the rest. I dont need to draw a bollinger band to see it on the chart for instance.
This is all i care to share from my main account
pardon me for inking out the absolute numbers since thats nobody’s business. As you can see since january 1st this year i have put in 1148 trades, the year is halfway so. In classic trading i hear always about people doing quarterlies having put in like four , maybe six or seven if its excessive. And i’m not scalping although my broker has a somewhat less restrictive view on the matter. This is just live trading mostly
SO, long story short, i was wondering how many trades did you make in one year to get a whopper of almost 600% increase ?
Glad to see a sensible discussion on performance.
Most of the time it ends up with someone throwing punches. Well done to all you guys who are clearly doing well. Most people can’t get round the fact that the greedy few have handed the keys to the kingdom of FX to boost liquidity and keep the currency mad house going. You can only take advantage of it because very soon the world will undergo a change which will return all these free floating currencies to a pegged state.
Me and a friend are opening our own 5 figure fund at the end of the year and we intend to run it professionally. I being the one with the Economics background will be actively managing it, the biggest issue is I love my current occupation and I am not sure about being a full time trader for the rest of my life especially when I already do okay. In my short time I know FX trading can change lives it all depends on the individual.
Good luck people.
You as well my friend
Gp
Tomorrow marks the end of my fiscal year of trading. I have done extremely well trading my method over the last year. I’ve had 238 trades, of which 91.6% paid off, for a total of 623% profit. This was my best year since I started trading in 2001. It has taken a lot of hard work to get to be this efficient at trading. Most people are not willing to do the work that it takes.
At this time I’d like to give a special thanks and to Bob Volman for “Forex price action scalping” and Tim Lucarelli for “Forex secrets trading from the dark side” their books and gave me a whole new perspective on the markets that I was able to roll into the methodology that I use and have profited so well from this last year.
Congrats dude!
:35::35::35::35: Well done. Here’s to you and many more
Gp