A couple of friends of mine were supposed to come on board with me on this trading journey by contributing some funds so My starting balance would be bigger thus making my task of making money far easier and quicker. Unfortunately everyone chickened out so I decided to go it alone. This is a real account and I am advising you all looking on out there not to try to copy anything you see here. No photoshop or any such thing involved but I blacked out a few things such as my name. I realized that breaking A FEW rules significantly increase one’s chances of coming out ahead… one of which is to leave out that much respected stop loss.
The first five were proper trades then I decided to just scalp, lol.
Let’s hear the haters now!
Best of luck with that.
Thanks. I think i’m at 12 or 13 trades now with no losses. lol.
Gold is in a range right now, today, so scalping with minimum lot sizes could be variable. Anyway, keep the profits rolling in.
But beware, experienced traders use S/L for good reason. It’s not to be ignored or a sudden spike caused by institutional traders could blow your account. It only needs one such event.
Cheers.
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Yeah I am fully aware of what you are saying but let me ask you a question. Have you ever seen a spike on the top side?
Yes, up and down, especially with crypto currencies. You’ll also see forex Major pairs react to important fundamental news, and at opening times after a weekend break.
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Hi,
Good luck. I am really interested to see what the cumulative chart will look like after 120 trades, and after 1,200 trades. Please keep us informed.
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My bad. I was referring to gold specifically which is what I am trading.
Believe it or not 120 straight winning trades is not really as difficult as people tend to believe. The trick is to take small bites like a 5 pip here and a 3 pip there and not go for 40 and 50 per trade.
Yes - gold in 1980. My technical manager was offshore AsiaPac training me on a new service. He telexed his broker in Paris and asked him to buy when gold was $400/oz. His broker bought at near $800. When he found out 3 days later, he put in an immediate sell order, and his broker sold on the way down at $500/oz. That cost him nearly a year’s wages, and he was paid very very well.
BTW, I don’t use stop losses either this year, but I don’t use leverage either. I trade crypto currencies with zero margin.
Ok, I hear you.
The account is now at 19 straight wins and no losses. Over 21% increase in starting balance in four days. The only blip is I had a trade carry over the weekend so some fees were involved which lessened my profit for that trade.
Well done. Keep it up. We hold gold for very long term (30+ years) and as a result we are overweight. So when pursuing something new like cryptos, we are fortunate to have a source of funds to risk.
I have never traded gold other than the GSR (gold silver ratio) but I have only made conscious moves to trade gold /silver twice in the past 20 years. It was a good move, even if it took a decade to find out. I’m a bit less patient on that score these days.
Thanks. Gold wasnt my first choice either. Pairs move too slow so I had my eyes on trading US30. Unfortunately for some reason when I was practicing on my demo account when I made 5 points and was expecting to get 90 dollars I only got 9 cents. Three trades produced similar results so I turned to gold.
I guess we should think twice before making some actions on the market. Well, it’s kinda difficult to believe in it, however it will make our life much easier and of course it will affect trading activity in a very positive way. The main key is that traders aren’t tend to think before making some actions on the market. They rely on the luck while luck doesn’t bring you money. The skills and experience do it. So, I advice traders to think before makeing some moves because it literally helps traders to save not only money, but also nerves. Nevertheless, everobyd decides by himself/herself what steps to make.