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thelearner thelearner is offline

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  1. phil838
    05-27-2009 05:36 PM - permalink
    phil838
    Part Two...

    I was glued to my computer screen almost 24 hours a day, but I was making really good returns. After around 6 months I hit $10,000 in my account and I slowed down. I was burnt out and stopped trading for a month.

    I then jumped back in, dropped all the short time frame systems that too so long to manage, and I now make about 5-7% per week (average of course, some weeks I lose money) and only look at my charts for about an hour each week. My wife still works so my account is still compounding at an outstanding rate, but at $10,000 I could have started withdrawing $500 a week to live off of and still be growing my account.

    I live in a really low cost-of-living area (Arkansas), so $500 a week might not pay your bills. If not just keep at it a little longer before you quit your job.
  2. phil838
    05-27-2009 05:35 PM - permalink
    phil838
    This is part one.. My response was more than the 1000 characters allowed...

    I was lucky in that my wife's income allowed me to stay home and learn to trade without worrying about paying the bills. I studied forex 10+ hours per day and went from newbie to professional trader in one year. You can do the same thing while working a job, it will just take longer...

    After demoing for a while I opened my first forex account with Oanda for $50. I turned that into $60 within a month. $10 doesn't sound like much but that's a 20% increase in a month!

    I then added $940 to bring it up to an even $1000 and turned that into $1200 in less than 2 months.

    The whole time I'd been trying out different techniques and systems one at a time, seeing which ones worked and which didn't. I then upped my account to $3000, and started trading ALL the systems that worked.
  3. adsf
    05-23-2009 01:12 AM - permalink
    adsf
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  • ***NOOBZILLA***
    May 19, 2009 - start micro account with $1,250
    June 2, 2009 - floating account balance close to $30k
    June 3, 2009 - loss of ~$28k
    Lesson to be taken, money management is important.

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