2012 Forex Goals, Targets, Dreams and for some... a Bucket List

I’m also a newbie here and I’m very interested in scalping. So, I’m going to take part in contest Master scalper. It is held on demo account so that there is no need to deposit anything. It is provided by accentForex, comparatively a young broker so at the same time I’ll check the work of this broker.

Halfway through the year and I’m not profitable yet… :stuck_out_tongue: Its okay I still have plenty of time to grind out a profit. Plus i have managed to to keep my draw down under 8%… Baby steps. :wink: How are the rest of you guys doing this year?

  1. I actually had to claim profit on my income taxes this year due to forex (yay) but there is a catch. Because I made money, I lost almost all of my financial aid so I had to withdraw a large amount of my account to afford classes this year.

  2. Still working on this, I’ve increased my knowledge about EAs in every aspect and am still working on a customized EA (algo) trading portfolio using no bought EAs.

  3. MQL is still a challenge for me but I do have a book but have had other priorities which have restricted my study time. I have learned a lot about EL and for me is much easier to learn and have decided to use EL over MQL

  4. Year isn’t over yet but after having to withdraw almost my entire account for school this no longer seems likely, maybe next year.

  5. Done, and working perfectly.

  6. My largest DD so far has been -3.5% which I recovered from and ended the month net+

  7. Not quite there yet, but since that posting my lowest % gain has been 12%, can’t complain about that.

  8. Done, I don’t lose many trades (I also don’t take too many either) anymore. My accuracy has definitely improved.

  9. I’ve been slacking here, I do try to use SMT once in a while but it hasn’t been a major part of my trading yet.

  10. If position trades can be classified as trades lasting at least a month long then I’ve taken quite a few this year and made quite a nice profit from each :wink: I’ve got some plans for the coming weeks/months and hopefully will be catching some nice moves. I’ve already got longs built up from the lows made in early June but we will see how long I hold these. I’m not allowed to hedge so I may close them out when I suspect the next major bear move.

So far so good. I actually forgot about this thread but it is nice to come back, read my goals, and see that most have been achieved.

Way to go man! -3.5% is nothing! That’s fantastic! In my opinion that’s the biggest accomplishment you listed.

Ya, reducing risk after each loss really does help save your account and that is evidence of it. Had I been risking 2% per trade, even after a loss, I would have lost much more.

It really is a pleasure to see how far you’ve come Scooby in a few short years. :slight_smile:

I wish to quit my job and join my family this year. I am away from my family and my country. My aim to make $750 per month from Forex. No greed. It’s enough for a month.

Goal is to learn as much as I can about trading Forex before I jump into a live account. After that, make enough to where I can forsee a better future and quit a 9 to 5 job.

Status update.

I am presently in debt with X amount to pay off, but from being able to keep my available funds still in liquid form I am able to trade with an x sum of money.

I apologize for being so vague, I am only attempting to keep my specific personal information private for now.

But that all being said I have been able to realize what I’m doing wrong and right and able to produce around 300-400+ dollars per week not to include the amount I am able t make from the rebates where I am presently making approximately 35 dollars or more per trade and hoping to be able to use standard lot size trading since this month I am hoping to be able to receive back around 1,000.00 dollars and more on a more consistent basis and better.

I will have to say that due to my recent location move from overseas to stateside my thoughts have been able to be more clear and I am hoping it will continue to help me make better decisions than before.

But in all that being said.

I am not planning and hoping to be completely debt free by December, and able to greatly multiply the amount I am able to make by the end of next year.

And on that note, I hope to be able to make 70.00 dollars back per transaction from kickbacks by early next year and can produce just in kickbacks alone (not to include actual transaction profit/loss) of around 3-4,000.00 at the end of each month to eventually spread that amount up to 8-13,000.00 the following 6 months later and so forth and so forth.

On that note, I figure I may not be a multi-millionaire by then, but I will be right around the corner as 10x12=120,000.00 from the way I see the numbers just from kickbacks consistently reoccurring…

With the kickbacks being put back into the account, I see I would be able to generate a substantial amount of profit in a shorter time-frame.

But I need to be considerably careful in how fast I allow myself to generate wealth and using safety from the amount I make to ensure I do not run in IRS issues if some sort of freak-accident happens and I begin to do stupid risks again, or I change the manner of my trades and begin to lose instead of winning.

Just because I plan to make money quickly does not mean I shouldn’t be unwise in the manner. Once I am able to pay everything off, I plan to use the rebates and split them 50/50 invest/save manner. As well do the same concept once I’m able to make x,y,z with the account to ensure a safe deposit of the funds so that it is not risky, I am not worried about the interest rate received as long as IRS is tracking the amount received and I have no issues.

But I figure once I make $50,000.00 alone from trades I will hire someone to monitor my IRS taxes as I want to ensure that my thoughts are clear.

My goal is to be able to provide jobs for my countrymen and travel with my mom everywhere she wants and that includes Milan.

Definitely to profit from it!! HAHA

To have FX be the main and consistent 3ource of income for me!! :slight_smile:

Well folks, its the start of a new year and like I promised myself I would revisit this thread and see how I made out on my goals set at the beginning of 2012. I am on a smartphone at the moment so appologize for any typos.
In 2012 my Goal for the year was to trade a live account for a consistant monthly profit. It seems thta i have misrably failed at this and instead was consistantly in the red most every month. I think there were two months were I made 3 or 4 % and that is all. At one point my account was down 14%. I have recently made back some of that and it sits at 8% drawdown.
How about the rest of you? How did the year 2012 treat your accounts and more importantly your trading goals? Please update if you posted on this thread a year ago.

Down 180 pips on the year= £180 which = -5% which is very sad after a couple of years but true.

However am not giving in :}

Bring on 2013

I like your honesty Pipmart & Akeakamal.

Didn’t get another live account setup in 2012 :(, so I will now make the above my 2013 goals. :slight_smile:

Hi ICT

Lost £323 in my fist year with a live account. This equals a 34% total loss :frowning:

Thought I was ready after 6-7 years practice trading so opened a live account. The rest is history…

Now, almost 1 month after finding your material and being able to understand far more, I believe the tools are now in my hands.

Since finding your material here on babypips it has already started to revolutionize my trading even more than the discovery of Elliott.

[B]Quote[/B] Very Tickled with the results :wink: [B]Unquote[/B].

Thank you Michael.

In a while (maybe 2-3 years) when I visit the USA it would be great to be able to buy you at least a few drinks.

Goals:
1st Revise my trading plan in such a way that I can
a) denote each step more accurately for each of my trading rules
b) make it so that I can measure where I am in relation to each of the goals below
c) Ensure I stick to very robust risk management rules
2nd Plan the Trade, Trade the plan. (ergo: Divers speak Plan the Dive, Dive the Plan don’t deviate…if you do you may die)
3rd Continue taking confident baby steps and regain at least 50% of my losses over the next 3-6 months.
4th Continually review my primary goals to ensure I am on track
5th Second half of the year start building towards employment independence
6th Revisit this thread in 12 months :slight_smile:

MY forex goal is to trade according to the plan and recover last year small Loss.

Still demo trading-i would like to put money into my live account but i am not in a huge rush i don’t feel ready.On the plus side i have the money to do it but have learnt patience after blowing up my live account twice(Not last year the year before) and am working and applying the excellent advice on this site.Big thank you to everybody who contributes and especially Michael the videos are great,i don’t always understand whats, what but the more i study and rewatch the more i pick up.I have a trip planned end of Feb to Florida will be meeting my Aunt and end of the year to Australia to see sister and family so those goals are on track.Still want a home and to trade full time that will come.2013 goals June start trading live again and a year from now to be showing profit.

new year, better targets, increased discipline :wink: