43% in one week. If only you could sustain that kind of return over 3 months on a $10000 live account. I only made 0.811% last week.
And Kenshin, Im not being a smarta$$. I know exactly what your saying, I really do. I dont have 2 quarters to rub together, let alone throw in $5,000. So, I have no option but to trade like I do, and I knew this from day 1. I knew everything I was planning, is like going against the grain. Trust me, I know… I wish I could throw in $10,000 and take the 5% a month, but I just cant do it.
With that being said, Ive practiced like this from the first day, Iv learned a tremendous amount between then and now, Lost alot of $2, $5, $10 and $98 account that was gifted to me, …
I usually get jinxed when I write my numbers down or throw up my FXbook, lol, like clock work, its funny that way. SO, we will see how next week goes, lol… But I now think I have all my pieces in place, and I might be wrong, but Im more right then my last nice run.
To this day, I have horrible outcomes with big pip TPs. For some reason, they always fall short by 1-2 pips, just to retrace and take out my stops. Its why I scalp in chunks.
Then, something else I do, is trade GBPNZD, which is torture, just to get beat up for a few weeks. FEEL THE BURN U S.O.B, LOL… SMH,
Then go back to EG, and it allllll slows down,
I really wanted to go VPS route, but I cant put my strat together for it. I use a combination of indicators together, but the EA wont read it like I do. That really is the Magical way to all this, so Kudos to You, Also takes your mouse finger out of the equation, lol…
Man, keep rockin it, Im not here to pick a fight or bicker, Im actually enjoying life as a WHole for the first time in several years… Feels good to feel giddy again… Feels like everything is finally coming into focus. And it might be because, Im there Bro, Im there… After all this, all the hours I put in, all the frustration, I think I got it… And it feels dam good…
Great Pips to you Bud!!
That was my real account numbers,
My practice account hit 49%, 87 trades, and 1 loss of 1/2 a pip, in 3 days, which uses MT4
Had a problem after downloading an Indicator and jammed up my MT4 for a few days, so my real account was traded off my tablet, using another simplified modification to my system.
Ugg, and thats another thing altogether. For some reason my tablet platform was closing out trades at exactly the same time but periodically by days. I never did figure it out to why its doing it, I just dont open a trade at the time now… lol…
I’m not trying to aggravate anyone here either. I just see so many threads here where people are trying to get started doing this on small accounts and it almost never works. It’s extremely depressing to see.
There is the faint glimmer of hope, where someone purely by chance makes a heap of % for a short period of time, but it almost always never lasts for long. The problem is that people tend to latch on to these anomalies and try to consider it as being the norm, which it isn’t. They haven’t found the grail, they just got lucky or falsified their results.
I can only hope for you that it works out somehow by starting on a small account. I could never get a small account below $5000 started. I tried twice when first starting with <$1000 and blew both accounts. It was mostly caused because of low capital and lacking the mindset required. At least if it blows up you’re not losing lots of cash. If I were to blow the account now, it would be devastating for me. I wouldn’t get a second chance. My wife would shoot me.
Anyway, good luck for the future, and I hope you can repeat last weeks performance many times over.:51:
Do you all realise that raising money is the EASIEST part of trading, once you can prove you are profitable? I see all this whining, that if you don’t have enough money, don’t even start, you need at least 50K, is it worth starting if I only have 100$ etc.
Guys, you stuck at the very, very last problem of the trading journey, and at the easiest one. First try to be profitable for 1-2 years, and have a proof of it. After that, suddenly everybody wants to throw money at you from all directions, you just have to go out and market yourself a bit. I’m not taking about going up to friends and strangers and like “hey, I make money, give me money, so I make more.” I’m talking about professional investors and organisations, who are looking for talented traders, and provide money for them. One example is the Topsteptraders.
So let’s take the thread starter first. You only have 250$? Okay no problem, start trading, figure out how to be profitalbe (this is the question what you should be worried about), do it successfully for 1-2 years, have proof about it, and start raising money from these professional investment opportunities. You can build up a HUGE equity from them.
Now let’s take MoneyNVRSleeps. I read your journal some time ago, so correct me, if I’m wrong. As I remember, you are trying to trade for more than 5 years, always going for the 100%/day, because if you make it, you only have to trade for 2 months or something. And you always blow and blow and blow your accounts in the process.
Now think about, if you would have started 5 years ago with aiming for a couple %, do it for 2 years and not getting greedy, then go start raising funds. By the time now, you could be at the level you want to, managing hundreds of thousands of dollars, or more.
Think about this guys, you are stuck with the wrong problem.
Enough said… Don’t trade Forex. Get off the computer and spend more time with your family. Use your $250 to buy your wife something nice.
Very interesting thread-
Bonavest - Sorry to see that your trades haven’t worked out. Were you using an EA? It all seemed to have
happened over a short time period, maybe a bigger time frame would have been better.
Kenshin - Your EA seems to be serving you very well. Is it one you devised yourself, or purchased?
Anyone else had long term success with EAs?
And of course, a very prosperous New Year to you all!!!
I developed my own trading plan over several months and started by trading it manually. I already knew how to program in C++ to a fair degree. Learning enough of MQL4 to do what I wanted was easy as it’s a very simple programming language by comparison. I soon had my ea programmed and operational. Then, a heap of backtesting, put the ea on demo for some time, and then finally let it loose on a small live account. Since then I have regularly tweaked my ea to give better performance or more features. I could never go back to manual trading now.
I would be wary of purchasing an ea. Personally, I could not be confident running any ea that I didn’t understand completely how it operates to the finest detail. I would highly recommend that anyone who wanted to use automated trading should be programming their own ea so they then know exactly what to expect and make certain that it fits their personal risk/reward profile. There can be no surprises then. It can take longer initially this way, particularly if there is the requirement to learn programming, but to me it is the only way.
Just my opinion of course, each to their own, just what works for me, etc…
$250 is a reasonable amount to start forex trading with this amount you can work easily not trade in high risks with it. 3% profit is easy to make with managed trading it is not a big problem for those traders who come to forex after some preparation and trading experience.
Hehe…
It seems that you are upset about forex trading and never got profit there.
I got many dollar from trading using STP account
The response I gave was a straight hard fact for the original poster who obviously should not be trading his REAL money… The link you see to MyFXBook was a DEMO/FAKE money trading account where I was trying some things and didn’t set a stop loss when news hit and the price went 2,000 pips the wrong way.
Here is a link to my other account where I have done very well with and soon as I can double it I will begin thinking about opening my first REAL money trading account with about $5k-$10k.
Well done, here … over what time-scale and how many trades was the 53% profit?
If you click the graph it will take you to MyFXBook which will have every detail of all my trade and stats.
I think that account was started around end of November or beginning December and I didn’t trade much at all there where it flat lined for a month or two.
Oh and my profit has gone up some more today, but haven’t updated my trades at this second. Will do in a moment.
Bonavest, why not throw in like $50 real money? Its all the same really. Demo is great to kill time with, but dont make it a waste of time all together.
I trade both,
And everything should translate to the real account well, if you dont allow the phyc part of real money. You need to feel that stuff a soon as possible.
My demo account is up 33% this week, 173 trades, 2 Losses
My real account is up 16% this week, 35 wins, 2 losses ( With BrX looming, tryin to stay sidelined) But need the fix, so Im on demo mostly, lol…
Trading with strong investment can be useful and $250 is good investment and I think if any person has good knowledge and vast demo trading experience then he can get the fruitful result with such kind of investment.
I’d disagree with the opening poster. I firmly believe if you are trading properly you can make 2r per week. If R is equal to 2% per trade then we are making 4% weekly. That is a net weekly result of 2v1 reward to risk.
If we multiply that by 4 weeks we get 16% a month.
Re run your calculations on that basis.
Before any says 16% is not possible I am happy to disprove that theory.
You are doing careful trading that’s why you are expecting only 3% monthly profit with this investment, I would like to say that you can earn much more profit and can earn huge amount if you have good knowledge and experience of forex.
If you are having a profitable strategy, the more you invest the better it will be…
I does like to do forex with this investment and profit, you are thinking quite positive which is the sign of success, I am also trading with strong investment and expected not huge amount, I just rely on small profit and enjoying my trading.
So, how’s that working out fi you? Hittimg 4% per week?