Hi all,
I am a newbie on babypips but not a newbie in the forex business. I am a 21 year old student in North America and I started trading 16 months ago when I was doing an internship and had about $1200 to spare. When I started trading, I made a few mistakes. I threw myself in the deep end and did not read as exhaustively as I could. As a matter of fact, I traded a demo account with max leverage and 100% of capital and found it boring and not as adrenaline filled as I expected. So, I moved over to a real account and traded using the same parameters without even knowing about forex news releases. After losing $300, I found a website where I was able to use the trader sentiment to trade. Using only this, I was able to grow my account to $2,200 until Bernanke’s speech about tapering on June 19 last year and I promptly lost half of my money in the next few days as USD rallied. After that, my strategy of using trader sentiment stopped working and I followed recommendations from another website. I went on a 9 month losing streak and to cover margin calls, I kept pumping in money until I had invested $5,000. At the beginning of March, I had lost $2,900 of my capital and decided to quit using “professional” advice, stop searching for the holy grail and develop my own strategy, which consisted of about 8 or 9 independent strategies. I practised my new strategy conservatively from March to May. On June 1st, I had $2,300 and I decided to use my new strategy without restraint. As a result, I was able to earn a profit of more than 100% in June and I grew my capital to a maximum of $9,000 earlier this month. Now, I have cashed out my invested money of $5,000 +$800 profit and I play with about $2,000 in free money. So yes, I’m a high risk profitable trader.
I wasn’t educated in Babypips so I do not practice the 1-2% rule, and I also don’t know about any forex gurus or mentors and I have never read any forex books. However, I was wondering, are there any profitable traders on here? Most of the forums I have seen have just been calling for people who have had the market take more money from them than they have from the market.