Consistent positive rate of return, month in and month out, is what most of us traders are aiming for and unfortunately, this is one of the difficult task to master. We can predict of how much rate of return you or we want but the “actual” return of what you are able to bring in even if it is a mere of 2% monthly or maybe 5% monthly as long as you are in a positive side is a good starting point then we could add more as we gain more experience for the years to come.
I will be brief of explaining my trading strategy: I used Fundamental and simple Technical. Fundamental: I mostly trade during news releases such as Central Bank Interest rates/policy changes, Unemployment (NFP and sometimes the Aussie) are just a few. I do not have any in depth knowledge in Fundamental but I do know enough when I should look for set ups to trade or just wait. Technical: simple chart pattern and mostly S/R level. I usually trade via my iPhone as I also work full time and travels for work and for pleasure so my phone is my friend and without it I don’t think I have any chance at all to trade. NYO is my most active time to trade and sometimes at night for the Aussie (I live in US)…My strength is in Psychological (as most of you know ) side of trading. If you ask me a question, I will try my best to answer you in a “Psychological” manner ;).
As my trading journey is getting a little exciting, join me to find my consistency and or maybe you could help me on how I can improved my trading approached so feel free to contribute. I believed that there is always room for improvement…
I like to see results and what the bottom line is…in my, myfxbook below you can see that I kept everything in private. I want you and I to focus on the rate of return… not in pips… and especially not in profit because , in my opinion, those are just a distractions. I am focusing on a monthly basis so the Myfxbook will be updated every month…
Dear PipNRoll, Honorary FX Woman and Mistress Contributor, you should be named Inspirational Trader of the Year, and Female Forex Trader of the Month… Your FXBook just shows how you really have built a way of consistent gains, progressing quietly but relentlessly, like an ant army marching forward… And all from your iPhone… We salute you…
I always think if you’ve kept to your plan, kept your discipline and remained patient then you’ve had a good week regardless of whether you make a profit.
[B]@Trasimaco[/B] – How you been? Hope all is well…. yep, rate of return not pips or profits lol. Thank you!
[B] @PipMeHappy [/B]– You always have these nice words to say…I am starting to get a little spoiled lol. Thank you my friend
[B]@ Dreighen[/B] – I am glad to hear that. These thread’s main objective is to hopefully give newbies and or the struggling once to gain some motivation, encouragement, and the drive to keep going… I hope by six months or in a 1 year I reach that goal…If not, at least I tried lol… Thank you!
[B] @useless23[/B] – If you are already practicing discipline and patient from the start, you are already in a good start. These are your foundations then you can start building it up from there. Next thing, focus on not losing, breakeven, or surviving in a few months. If you survived, eventually you will start getting small profits then add a little bit more as months and years to come. Good-luck!
In a business world, when offering (selling) your good quality product and or services, in order to keep your customers/clients happy, your product and services should be consistently good, if not great, so the customers will keep coming back and eventually they are the one who will be begging or asking for your services because you are that good…
In my perspective, same approached you can apply into your trading. Consistency will leads to sustainability. A consistent rate of return even if it is 2% or 5% monthly that you can bring in all the time. If you can do that without any struggle, these will indicate that you are sustainable. Same thing if you have a business that you run, if you are consistently good and have customers that always keep coming back, your business is sustainable and eventually, you can live out of from your business/trading profits. Focus on consistency …your end result is sustainability…
I like what you are doing and your success so far is quite impressive considering the risk you are taking. I can tell based off the equity spikes. 16% drawdown at one point might turn some of those traders who are talking so sweetly to you off quite more than they are leading you on to believe lol. I have noticed you have been upping your risk as time progresses which is fine, just be careful xD. I take very high risk, so I’m not pointing fingers lol, I’m simply noticing what others fail to see haha. Before you tear into me about the conventional acceptable “risk” levels (or anyone for that matter), do know I have much different approach to forex overall and my goals are actually very achievable despite my risk appetite.
1 to 3 months, even six months of positive return is not necessarily a good indication of how successful your trading style is, I agree ( to an extent). I like the accuracy your fx book portrays, it looks very much like my own last month if not maybe a little better. High accuracy is a huge turn on to me and your “physiologic” approach is rather interesting.
My guess is you do something with psychology as your profession (hint the approach you apply to trading), maybe help out those with PTSD. Which is possibly why you travel. It’s not important, and you do not need to answer, but I like to guess lol. Anyhow keep up the good work!
Criticism are welcome and that is the forum is for but ofcourse within reasons. My traiding strategy is what I am comfortable of doing. I only do 1 trade at a time and holding 3 trades at the most (very rarely). Look at how many trades I took in 3 months… 61 trades total. For me, taking one trade with higher probability one at a time is what works for me. I do hold on to losing sometimes but I still can get out of it in profits…So we will see in about 6 months or so…It is still early to tell…
By the way, Psychology is not my profession… it is just a hobby of mine
A girl of mystery, I like it :). Don’t mind the “pocket change” account size (already got made fun of because of this lol), but do check out my fxbook as well if you get the chance. I made it when I first made my account as a noob trader, so it shows all the trades I ever made etc. Whats most important is this past month and my progress since the beginning of the year. If you notice, we have a lot in common. I only place 1 trade at a time, very much like you. This past month I experimented a little on some hour long trades and have since dropped the concept. My style is to predict the entire day and get in at open, hold til close and take the entire open to close movement on the daily chart. It’s a style I think best suits me because I put in 5 minutes of work for 24 hours of profit. I have a journal too if you are interested, its usually around the top in the trading journal section… but I’m a stat kinda guy, I use math so my approach is quite different than the average trader.
Oh and I have lost about a grand before I started using my mathematical approach xD, so that’s why overall my account is so negative ;). I have no worries, In due time and diligence I will be back to where I started, on my way to the top just like you
psychology is just a hobby huh? Uh oh. Sounds dangerous lol jk jk. I love traveling as well and can’t wait to go back to Europe! So you use your iPhone as well huh? If you don’t mind me asking, who is your broker? I use Oanda and I love the platform on the Iphone. Extremely easy to use and usually I have no problems with the rates loading etc. They added some indicators as well on there, I don’t use them but thought it was pretty neat
I have to say these but…no I dont think we are so much a like. Sorry, to break that to you…you probably confused me with someone else lol. However, 110% gain this month is really impressive but I highly doubt that it is a trade consist of “1” trade at a time unless I am look at something else…
To answer your question, my broker is Forex.com… Ive been using them since I started trading and never switch to other broker. I am a loyal that way…
Good-luck with you trading. Hopefully, you can get back up there again in a green… Consistently
Lol I gotcha. I get much hate. It is what it is, and yes despite your beliefs, Only 1 trade at a time I take very high risk though. I have been taking high risk since I first started trading despite all the criticism I get (other than the system my buddy and I made about two years back). I already have a very very nice system that is extremely low risk and returns around 2% a month very consistently, I just do not trade it because I’m not satisfied with low risk. 150+ trades win with no losses… yet it only returned $20 on his and my 2k account in a months time. Until I have 100k to trade it, I spend my time developing what I am working on now. Obviously and I can cut my risk way down and my current system would still be a very nice system to trade, still not perfect like the other one I just mentioned, but that’s the beauty of FX, to find the perfect or as close to perfect set of rules as possible ;).
Seems impossible, but last summer I turned $140 into $1200 in 14 days (only 1 trade per day) trading 100% account balance. The day I lost, I got margin called and lost almost $600. However… If I can create a system that can give me a 40-60 day winning streak, I can turn $1000 into a million no problem. At that point I would pull out the majority of the money and keep going as well as trade my low risk system :). That’s the dream, but in the mean time I’m just saving capital trying to figure out how the world works :).
I hope you are aware that there is no such thing as a “perfect” systems or perfect set of rules (not really sure what you mean by this)…
I could tell that you have these high hopes and dreams to earned millions of dollars , if not today, tomorrow. Its normal I guess to think that way because I have seen and heard this all the time…but realiastically, can you really do that?
Have you ever think in a different ways maybe “taking it slow”? Like, what is your plan right now to bring back up your $1K that you lost? Are you planning to take any actions to changes maybe how you approached your trading? I am by no means an expert and I am still looking for ways to improved my trading style but I do know enough to focus on fixing what it is I need to fixed right now in front of me…If I am in your shoes, I would focus on how to get my money back from a big lose before I even thinking about finding that “perfect” systems and that million dollars that I am “expecting” to get…sometimes, you already have a system in front of you that works… you just need to do some tweaking and have a lower expectations…
…just my 2 cents in my pschological side hobby of mine
Hehe. No one thought it was ever going to be possible to fly. Then came the wright brothers and the first airplane! Now we have rockets that take us to space. I’m one of the types that believes anything is possible if you set your mind to it. I believe a perfect system does exist. No one said a perfect system predicts every second of the day or every day of the year, however, much like a tornado, I believe if all the required conditions are met, a pattern exists that always gives a particular result.
If I set low expectations, what’s the point in improving if I already have a means to succeed? There are many systems on this site that work great and make those who use then gradual consistent gains. I want to hit a home run, not just a grounder every time I bat just to make it to first base. I understand the slow gradual consistent growth concept. That’s great, and by all means do what works for you. But somewhere out there is a very rapid growth system waiting to be found and I’m going to be the first to find it xD
Fair enough… Though, it takes lots of time, proper planning, lots of trial and error before we got to fly rockets and airplanes and those didnt happened in weeks/months…
Right you are I spent over 11 months now on my current concept. What’s another 10 years if it takes that long lol. I do have an interesting question for you, might make you think a little.
The market moves in various reasons. Fear and Greed for once… I dont think there is “ONLY” one reason what drives it … but in my opinion, Fundamental factors have a strong impact of what drives the market and also the Supply/Demand.
so my phone is my friend and without it I don’t think I have any chance at all to trade. NYO is my most active time to trade and sometimes at night for the Aussie (I live in US)…My strength is in Psychological (as most of you know 
) side of trading. If you ask me a question, I will try my best to answer you in a “Psychological” manner ;).
