Objective: 50 trades that yield 10%.
Starting balance: $3,000.
Starting date: 23 March 2022, +8 GMT.
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Trade 1: Long XAG/USD @ 24.810, targeting 25.000 recovery.
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What’s the position size?
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You are starting in the past. Can I borrow your time machine?!? I’m guessing risk management is out the door, Following with interest still.
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Please issue a big post linking to this one when you get to trade # 200. Anything less has no meaning whatsoever.
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Omg I missed that lol
Thanks, corrected the typo.
You can’t borrow my time machine, I busted it while time traveling to the 90s.
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The lot sizing is going to be aggressive, especially at the start. Hence, the entries are going to be critical.
I saw that Silver still dipped this morning, which meant that the entry isn’t great, but there was no way I could be awake at that time, so…
The key idea here is to kind of do a Jesse Livermore. Only with such a system, can every single person benefit from forex trading.
Previously I tried attempted this with an EA: 10% a day? SGD 1,000 to SGD 100,000 in 50 days? - #10 by KovanTrader. I got to around $13,000 before it collapsed. I am now a firm believer that machines still need to be guided by humans.
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Trade update: I’m a little disappointed we have yet to recover 25.000 and hit TP. However, as I see DXY softening at the moment, we could be making a run later in London session. Guess patience is needed here.
First trade closed. Profit of $1,146.32 (paid $9.87 swap). Gain of 38.21%.
I stopped before the TP, which was a mistake because as soon as I closed, within the next minute it hit TP.
I’m switching over to XAU/USD buys at 1921 because I think it is the next big mover.
In addition, Powell speaks in 4 hours time and there will be home sales data (which was previously bad). Target profit for this trade is $415. I am leaving TP open because if there is one thing I learnt, the market is dynamic and I want to see how it catches up with Silver.
Second trade done! Gain of 28.77%.
EDIT: Looks like once again I closed the trade early, but oh well…
I think yen pairs might be reaching resistance.
Next trade should target $526.
EJ and GJ are flirting at red daily candles while AJ is still bullish. For those looking for a swing trade, selling AJ could be profitable.
Both XAU/USD and XAG/USD are trending towards a lower low and lower high. XAU/USD might revisit 1919 support during the US session while XAG/USD might revisit 24.800 levels.
Trade 3 done, captured a profit of $237.73, for 4.5%.
I decided to switch it out for another trade based on the following rationale:
- I believe the move will be greater
- The margin requirements are lesser.
Next trade target profit is $550.
Trade 4 done for $616 profit for 11.2%.
As mentioned, yen pairs are pushing towards resistance.
Next trade target profit is $612.
Why does Gold and Silver looks like the same bull trap yesterday? Could possibly have a huge dump when US equities open.
Half the gains wiped out in first 3 mins…
EDIT: This is in reply to the post above…
Current balance is at $6,110; an increase of 100% in Day 1. However, US session wasn’t good, I could had taken profit but did not as I expected more profits and now I can’t. Guess will have to pay triple swap and see where we land tomorrow.
Hopefully when I am awake tomorrow my TPs are hit…that would make me extremely happy, although chances are, it would not.
I’m also glad I exited my AJ shorts as they are now totally OTM.
kovan, I need someone to train me please help. nate
Still have a lot od trades to go! The fact that youve already doubled though, pretty good!
Any hints about your strategy? What markets do you watch/don’t watch?
Any crypto in this or strictly forex?
Excellent job so far.