Another morning of craziness! I can’t believe my luck!!!
Been an incredible run lately.
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nice… really nice!!
amazing results. what did you do to achieve this? i also hope to try it. much appreciated mate.
I do not have a set ‘system’ so to speak. Instead, I have been trading forex since 2010 and have gained a lot of knowledge through the years. In addition, I have a large account allowing me to leverage a lot more than the average citizen. At least I think that is the case. I have carried some massive live-trade deficits over the years. Right now I stand at -190k which is a minimal deficit for me!
I have learned a lot of lessons along the way. Once again, I don’t use any sophisticated system or formula. To me, trading forex is complicated enough. I look for large fluctuations in pairs and look at their corresponding news events. Occasionally I get ‘caught with my pants down’ on trades. But overall, I have a lot more days like the one I posted than bad days!
Oh, and I should also mention that I rarely use stop losses…!
Ok to each it’s own obviously when you’re in a realm playing with six figures or low millions you definitely have way more breathing room to let a trade run its course so that I get. I actually can’t wait to transition to a low six figure account so I can have ample space with some pairs I’d like to trade more in the future (EUR/CAD, GBP/JPY, EUR/JPY, GBP/CAD, AUD/JPY).
I’ve only been doing it for about 3 years and you have about triple my experience so what would you say has been the single thing that keeps you sane in your trading?
thank you for your answer mate. i appreciate it. if you started trading in 2010 were you immediately profitable? how long did it take you to be profitable. thank you.
Awesome mate well done!
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You’ll start to ignore the zero’s and there will definitely be times that you wished you were only trading a $10k account, trust me! 
I do honestly believe as you have said, that once you enter the realms of perhaps $500k to $1m as a bank roll then you open the doors to some trading systems that allow you to trade without a stop loss with small position sizes and thus low used leverage whilst still turning returns that beat the average day job, if you get me?
Most of these ‘mentioned’ trading systems we laugh at as retail traders as you’re making pennies per day - but when you have a bank roll thousands of times larger the pennies start to add up whilst still using the same low risk.
Edit: You need money to make money, right - as the saying goes…
I had a plan in 2010 while I lived in Japan. If you go and look at the USDJPY… It was down in the low 70s. I was convinced that if I invested in that pair long, it would make me rich. Imagine going from 75 to 110 in 3-5 years with 15-20 lots! HOWEVER, I couldn’t stick to my plan. I over-invested and got very spooked with the market swings. I ended up taking a lot of losses. I’ve been on the brink and came close to losing it all 3 or 4 times. I have battled back several times. It’s been a long scary ride but I am in really good shape now from a balance, equity, and margin level standpoint. The best thing about my portfolio is that I am a Canadian living in Canada and all of my account is in USD. I am looking at 34% on top of my equity ATM.
I still have unfinished business but hope to cash out once I reach my goal. Then I will focus on other investment options without the craziness of forex!
Back to the USDJPY plan. Had I not ‘over-invested’ and had I stuck to my original plan (perhaps I should have done the math first), I would seriously be a wealthy SOB right now.
I mean look what happened! This is the monthly chart… Exactly as I called it - EXCEPT for all the fluctuation that my account couldn’t handle – at least psychologically!
I think that’s every FX traders dream - once they make it BIG!
But yep, couldn’t agree more with you.
And that is a massive bank roll you have - jesus, brings a tear to my eye.
Haha I hear you on that being a person that has a mid 5 figure account. You’re right once you have the proper capital where you can truly venture the waters you’ll just be opening up more options for yourself while still being in a safe space. Haha your right I can only imagine at some times you’ll be taking hefty losses but then again no risk - no reward and we are all in this for those rewards.
I can’t wait to get to that level I know I’m close and it’s taking me longer because I truly do just trade 1% on 85% of my trades - maybe I can look at moving some of my trades to 2% and get a little more testy with the waters. I’ve always been so frugal from a financial standpoint and I look at forex the same way. I feel like I possibly could’ve entered low six figures had I taken more risk but at the same I’m complacent that I’ve been following my system wholeheartedly and keeping my mind at bay with patience. It’s all about the long haul and it’s a marathon to stay in the race not to try to sprint the course. Hearing from individuals like @BaconSandwich @capper @anon46773462 @clint (though we disagree on some political crap) just provides more motivation that I’m on the correct path.
It’s great to hear from you guys. The fact is that I have taken some major risks in this racket – and continue to do so. It is the only way to make the big returns. You have to risk and leverage a lot to earn a lot. Things can get ugly in a hurry if you’re on the wrong side of some big trades.
To survive in this business, you also have to be willing to take your losses when necessary. I have to admit that I am a stubborn SOB that way. I don’t like to lose so much as a few cents on a trade. I have gotten stuck with my pants down on numerous occasions. The following is only ONE EXAMPLE of many trades that went sour:
There have been many of those awful trades where I got stuck with massive losses and huge negative swaps. Having said that, for every nasty trade, there have been good ones too! FYI, the one above is still running and still causing me lots of grief!
I have learned so many lessons and I am hopeful that they will continue to benefit me as I try and reach my goal.
Before I went to bed and saw a great opportunity with USDGBP. I put in some buy trades. Also liked the swap rates for long on that pair. Some of my trades didn’t get triggered as the pair didn’t quite drop low enough. But for the 2 trades that got triggered, it paid well! $1,497.00 & $1,323.00. Not a bad morning. Then I added some USDCAD gains with more open now…
why would anyone be angry? lol Good job 
This is incredible, life is sweet in the market when this continue to happen all the time. Am really happy for you.
Nice buddy. Any tips lol
