What you up to man?
Sometimes you have to roll the hard six 
Did he dissappear? Darn it, I wanted to have a friendly competition with him too.
Iām still here. Account balance is still the same. These past few days have been up and down a lot.
Good luck my friend for me
start of Aug 2011=2600
now Dec 172011= 3050
we should have a friendly competition right? our goal is to make 10 million in 7 years!
I will post my ending balance every Saturday at 5 p.m EST!
Happy trading!
Iām kind of little too conservative. Furthermore, I think I should enhance my profit taking and my risk should be .75% instead of .5%!
This sounds like a great idea. I always like a friendly competition. So trading last week turned out to be a bad week. I ended up breaking a few of my rules. The main one was to not trade during the news with more than 10% of my account. I lost over $2600.00 on one trade :(. My account balance was knock down to just $3268.00. Trading so far this week has been pretty good. Iām back on the same trading plan. Todayās current is: $4146.00. Now, Iām not sure if I am going to make my monthly Dec goal of $5960.00, but I will definitely make Jan goal. Hopefully anyway.
Looking forward to seeing what your Sunday balance is.
As of Tuesday, my balance is 3061. Itās kinda slow days.
Happy trading
A wise man once said āFocus on doubling your account; no man can jump to the top of a pyramidā
Youāre beating me badly, good for you this week! go Packers!!!
this would be a very slick accomplishment. just curious as how your strat works, cause i want a million dollars that fast too!!
Well if you would really like to know please read belowā¦
I started trading with $1000.00 using FXCLUB ExpressFX. Every day after 6pm I review each pair available to trade. I look for pairs that have changed 100 pips or more within the last few days. Each pair that I find with this change, I open a position with trade size of only 1000. Now Iām simply āguessingā that the pair will bounce back at least 50 pips. Iām only trying to make $5.00 per position opened. I will leave all of these positions open over night. In the morning before 8am. I will review all currently open positions. Any positions that I find made at least 25 pips ($2.50) I will close out manually. I will then review each pair available to trade and open new again like before. I continue this process until I double the account. Once the account has double, I double everything in this process. Instead of opening positions with a 1000 trade size. I will now open positions with a 2000 trade size. The plan stays the same for finding what positions to open, but now since the positions are more I increased the take profit to $10 per position instead of $5 per position. Same goes with closing positions out manually. I now close out positions manually that have made at least 50 pips ($5.00). Now I bet a lot of you are wondering handle positions with large drawdowns. If the drawdowns on a opened position goes over 250 pips, which does happen from time to time. I will increase the position from 2000 trade size to 20,000 trade size with the same take profit. This high increase in trade size is only done after 6pm EST. Please let me know if you have any questions or commits.
Update. New Forex account balance is: $4182.00
Thanks
Update. New Forex account balance is: $4255.00
Iām still pretty far from meeting my Dec goal of $5960.00
Still need to make $1705 to meet this months goal.
Good Afternoon everyone,
The 2011 is just 8 days left! wishing all the best to bb fans and members for best XMAS and new year.
For the week of 12-18ā12-23 my balance end today is 3120. there is a 2.2% up for this week!
Start out of next week trading, Iām going to risk per trade is 1.2% and my goal is 7% weekly earning. I know this is very very challenging goal for me, however, I think, it could be achieveable! currently Iām extending 14 weeks winning! I hope I can do it again next week.
Happy trading and have a great Holiday!
KL
This can be done, and actually in less than 36 months, more like 18 months from a starting $1k bank roll.
Anyone who states that they disagree can do so, but perhaps they should also look into a stats based approach.
Itās a shame more people are not able to achieve this, as it would become apparent that it is by no means a myth.
Update. New Forex account balance is: $4296.00
Well, Iām still pretty far from meeting my Dec goal of $5960.00
Still need to make $1664 to meet this months goal.
I would edge away from making a monthly target, let it run to what ever the month end gives you.
If you know that your trading approach delivers an average roi each month then thats all that matters. December after all is a different month, and as a result i donāt even include this month in my analysisā¦
My strategy is to take 5% of the account and consider it a microcosmic account (I still use the other 95% for buying power).
This is my priority list:
- Make space (position sizing)
- Increase the value of space (position sizing)
- Pips at maximum value.
Most of my time is spent going back and forth between 1 & 2 but at some point I no longer need 1, 2 is as high as it can go, & 3 takes care of its self.
At some point, between account * 1.5 & 2, I call it quits and start over.
good idea. mostly the huge trade size increase will get you. once it does you might get stressed out and make some bad moves. You should just pull the plug on the trade at some -pip amount 250 500 something. Or use a smaller trade size increase aim for breakeven with a % loss that will get you out before your up the creek.
Nice work so far I would hate to see one bad trade mess it up and destroy your discipline.
Thanks for the reply. Iām thinking about what you said about just pulling the plug on trades that go over 250 or 500 pips. Why do you pick those numbers? In the past few years I havenāt seen a trade move over 1000 pips in one direction without moving back at least 10% back within the same week. This would be all that I would need to break even. What do you think?
Update. New Forex account balance is: $4308.00
Trading during the holiday has been really slow. Hoping that it will pick back up very soon. Looking forward to next month.