Amazing Ride -- Still Moving Forward

I’m not here to boast but rather share my situation and connect with others.

I started doing some day-trading while living in Asia about 5-6 years ago. It’s been a big rollercoaster ride and I’ve been back in Canada now for about 2.5 years. I’ve done well, then lost a lot, done well again, then lost a lot again. But for the past 15 months I’ve made back all my losses and then some. More importantly, over the last 15 months, I’ve been averaging $14,000 / month in profits. To make a long story short, I’m still not way ahead but for over a year now I’ve been able to make money consistently month after month. My floating trades have almost always carried a big deficit throughout and still do (which I’d like to change in the future), but it stays in a range and I manage to turn really solid profits day after day, week after week, and month after month.

The main reason I got into forex a few years ago is because the JPY had reached an tremendous high against most major currencies - especially USD and CAD. I figured that if I invest in that and stick to my belief, I stood to make a lot of $$ at some point in around 2-4 years (when the yen eventually collapses in strength). My plan was right on. The problems I had were (a) I over-invested and didn’t account for the markets swings / fluctuation and (b) I preferred to take profits and re-enter trades (and over-invest) rather than stick to my original plan. As a result, I got caught with my pants down a couple of times along the way and took major losses more than once.

I have since recouped those losses in my trading and learned a tremendous amount from those times. I have also gained lots of experience in many other currency pairs and have expanded on my portfolio greatly. I feel like a veteran baseball pitcher that needs to diversify and learn new pitches after his fastball is no longer his bread and butter. I’ve learned how to manipulate the market in different ways and it has allowed me to expand my portfolio and earn more money regularly.

I don’t have any special formula – technical or otherwise. I would call myself much more or a “chart trader” as opposed to a “news trader.” I follow and monitor the as much as possible. My belief is that news is short-lived in a majority of cases so I try and use that to my advantage.

Anyway, I am hoping to connect with other traders who take their trading seriously as well. I have been back in Canada for 2.5 years after living and working abroad for a few years as an educator. Do to the success I’ve been having over the past year or so, I have been very hesitant about seeking full-time employment and prefer to do part-time contract work. It gives me more flexibility and time to trade.

I look forward to communicating with you and exchanging ideas, strategies, and experiences.

So you tell is how become $14,000 month trader like you do? Will you provide signals please?

Samir, thanks for your reply. What do you mean by signals? I don’t understand.

Sorry English is not my favorite. Signals I mean you tell us when to make trade and say when to close for profit. I probably pay you money if they make me money too.

Sorry English not a favorite. Signals for trading. Like telling us when to make a trade and close trade for profit. Can pay you probably for it if they are good if you want?

I see what you mean! Yes, I know there are lots of websites and lots of people who do this kind of thing. I don’t know if I want to get into that kind of thing just yet. I may consider it but I would have to look at it as a business with proper compensation etc. It takes time and I would feel obligated to deliver to my clients. Perhaps once I go full-time, I could go in that direction. In the meantime, just looking for people to connect with.

Should I decide to go the route of selling my signals, I could certainly provide a docmentation of my trades and show people the results I’ve had in the industry. That’s not a problem.

Good to see after trial and error you have found success!

Thanks forex1. It’s been going extremely well but my work is far from done and I still have a lot of hills to climb. I’ve managed to get out of some really tight spots in the past and will continue to learn from my mistakes and my successes. I know that forex usually eats most people alive and it’s a tough business.

Perhaps as time goes on I’d like to help advise people, and / or invest for others. In the meantime, I’m still doing my best everyday and learning as I go. Like I said I’ve learned a tremendous amount over the past few years all through hands on experience. There’s no better way to gain experience than simply putting in the work. If I were to spend 8-12 hours a day strictly focusing on forex, I’m not sure if it would be more beneficial or not.

Thats awesome Glad somebody is moving forward.If i was making 14000.00 per month i would long be doing it full time. Thats awesome Would u care to share any advice for a new trader. Also would u care to share your trading Strategy? It sounds like its a long term strategy.

To be frank, I don’t have any special or magical formula. I often open trades with a long term goal in mind. Then I will take profit as I go. I rarely use stop losses and this is possible due to the size of my account. I like to split my trades. For example, if I want to open 1 lot, I will open 2 0.5 lot trades instead. 4 lots, 4 x 0.5. It gives me more flexibility in taking profits etc. I am constantly looking at different charts - especially 1 hour, 4 hour, 1 day, 1 week, 1 month, and even 30 min. and 15 min. I keep track of news events and monitor them. I look for big rises and dips and often act on them.

If you message me privately, I think I could probably send you my trade history during different periods of time (once I check with my broker to be sure it’s not a security issue). You could look at my trades during any period of time and see what I’ve done. It’s all there.

I neglected to mentioned that I set a bunch of trading parameters for myself. I often use TPs but not SLs. I believe that most news events are short-lived. So if I see the USD rise higher dip low after economic numbers come out, I often catch it on the rebound afterwards.

I frequently go into trades thinking that I may not profit on them for several days or weeks – but cash out when they turn profitable in hours or the next day sometimes.

I look for pairs that are at extreme highs or lows – knowing they could continue breaking ground but also knowing they will likely make profits. I like USD/CAD because there’s been lots of fluctuation and usually within a reasonable range. Lots of moves but a bad trade is never far from turning positive.

I can tell you that I’m loaded with but orders on USD/CHF as soon as it hits 0.90000 down to 0.89850. Fully loaded and ready to go. I know that if the USD dips to there or lower it will be short-lived. Made about 6k last week on that pair with the same idea.

14k a month is a lot actually. I would make it a full time job. that’s pretty amazing. whatever it is your doing seems to be working. If you ever decide to invest for others as you mentioned in your previous post, please let me know.

The USD/CHF never reached the low point I was hoping. Instead, my already running trades got me over $1,000 overnight. If the trades I had set kicked in, I’d have made in excess of $4,000 overnight instead as I did last week. Take a look at the movement of the USD/CHF since yesterday. Bit believe we’ll see .92000 before too long. Taking profits is never I bad thing I have learned well.

Hi Capper

I can’t believe this is my 1st post on Babypips, I’m usually at Forex Factory, but I’m not a big poster.

I have been trading 4 years full time now and I can relate to your trading career being a amazing ride. I have had
incredible ups and downs in my trading journey up until now. It feels like I have been trading for 10 years,lol. I would[B] really [/B] [B]really[/B] like to come into contact with you. I think we can learn from each other :slight_smile:

Regards

Hi,

Looking forward to go on a long trading journey with you :wink: I’ve been trading 2,5 years with ups and downs but now I’m having a stable ride with forex.

About USD CHF, are you expecting it will go lower than 0.90000? Or is this the stop of the downtrend?

Kind regards,

Sam

If it does drop below .90000, I don 't believe it’ll be a long stay. This morning it’s on the rise. If that pair hits .92000 and I have the patience and nerve to wait, it could make my October one of the best months I’ve had in a while…

I expect USD/CAD to reach 1.03500 - 1.04000 at some point in the next 2-4 months. Just my prediction. I like to enter trades for short-term gains (1 day to 1 week) with a long term scope in mind. That way I feel I’m in a win-win situation. If you don’t understand what I mean – I understand! It’s my own strange strategy!!

I have set a Buy Limit order at 0.8975

I’ve got the following on order: 1 lot @ .90100, 1 lot @ .90050, 1 lot @ .90000, 1 lot @ .89950, & 1 lot @ .89900. I’m going heavy and willing to wait a few weeks to reap the rewards.