Sufshiken Trading Progress

anon58863749 · February 18, 2018, 9:20pm

Hi Everyone
@anon81929759 @ria_rose

After completing the entire course of School of Pipsology, I started to trade on a Demo Account from January 07, 2018.

As I was experimenting what I have learned in Pipsology course, so I tried to trade Hedging, Positive/Negative Correlative currencies as well as Gold.

I like Hybrid Trading style and prefer to do Swing Trading but I also do Day Trading as and when I see any opportunity to cash.

My primary indicator is Ichimoku Cloud plus Japanese Candle Stick. I also take help of Support/Resistance lines, channels and Fib ratios.

Since I was new to MT4 Platform that’s why I made few mistakes in the beginning. Instead of closing my Long position from Closed Order option, I closed my few trades from the Sale Orders and then tried to close that said Sale trades from Buy Orders due to which I couldn’t get better profit. So you would notice few trades of Sale/Buy of same currencies.

My maximum drawdown was US$.660/= in AUD/USD Long position. I could have easily squared off my position any time but I didn’t close it and let the trade run just to test my Stop loss Criteria.

Although my total loss was $.998.33 during the month of January, 2018, yet I managed to cover my losses of $.327.63 to close my Net Loss of $.660.70. My Win to Loss percentage was 58% to 48%. Expected Payoff was -27.53. Total Trades were 24, Profit trades were 14 and Loss trades were 10.

However, I have managed to earn Gross Profit of $.632.76 v/s. Gross Loss of $ 251.53 to get Net Profit of $ 381.23 during the month of February, 2018. I have also improved my Win to Loss percentage as 68.42% to 31.58%. Total trades were 19 whereas the Profit trades were 13 and Loss trades were 6.

However, my Closed P/L is still showing a Net Loss of US$.381.23 as of 15th February, 2018 which I would definitely try to cover up before the month end closed.

I am attaching my Account History/Statements of January, 2018 up to 15th February, 2018 for your review and comments.

January 2018 = Statement of Account

February 2018 = Statement of Account

PipMeHappy · February 18, 2018, 9:27pm

You are recovering well, so do not try to make that money back too fast.Also, it looks like you are overtrading: maybe take less trades and make them bigger wins…Just a few ideas, no criticism as such. Good luck.

anon58863749 · February 18, 2018, 9:30pm

Thanks for your advice @PipMeHappy

ria_rose · February 19, 2018, 2:31am

Hello @anon58863749! I’M SUPER HAPPY THAT YOU TAGGED ME HERE. I think it’s amazing that you’re actively monitoring your trades and that you’re super willing to share your journey with us! To be honest, I’ve been busy with school and my part time job so I haven’t been so actively demo trading lately. I need to work on that BUT I think that you’re progressing very well! (I mean, I’m not one to speak 'cause I’m a newbie as well lol) I think I’m gonna have to give this one to our buddy @anon81929759 since he’s the more experienced one here.

I will be supporting you all the way! I hope you keep this up.

FerdousAzam · February 21, 2018, 8:00am

Congratulations. As a newbie it is very good. Percentage is not that important. It is all about consistency. What you need is to be more organized, more disciplined. You also have to develop a very good risk management system that suits you and your trading strategy. Wish you all the best.

anon58863749 · February 21, 2018, 8:19am

@FerdousAzam Thanks for your appreciating remarks and addvices.

dudupips · February 23, 2018, 7:51am

You compled all the school courses?Amzing!
I admire u.

anon58863749 · February 23, 2018, 9:29am

@dudupips

I am repeating the said course of Pipsology.

ria_rose · February 27, 2018, 7:09pm

Hey @anon58863749! How have you been? You’re already waaaaay ahead of me in demo trading. Huhu. I’ll catch up soon!

Derix · March 3, 2018, 4:13am

That’s good that you’re so serious about your training. Many traders don’t bother about training process and rely only to luck, which results in loosing the money.

anon58863749 · March 5, 2018, 8:22pm

Hi Everyone

I joined Babypips.com on 23rd December, 2017 and I started trading on Demo Account on 7th January, 2018 after completing entire course of School of Pipsology.

Today I am posting below my statement from 15th February to 5th March 2018 for your review.

During the January, at one time I was down by $.998/= whereas of today, I have not only managed to recover my losses but have added few dollars to my account as well.

I would appreciate to receive your views, comments or suggestions on my aforesaid trades.

Navs24 · March 6, 2018, 4:18am

Very serious attitude towards learning. Keep it up!

anon58863749 · March 6, 2018, 5:38am

@Navs24. Thanks for your appreciation.

Yes you are right. I am very much serious to improve my trading. Because my goal is to becoming a Professional / Prop Trader.

Let’s see when would I reach to my target.

Cariar · March 7, 2018, 6:38am

They were really helpful for some people but for others they weren’t. Demo accounts are useful when you actually think about what you do and many traders just don’t care. And then, of course, they lose money.

anon58863749 · March 7, 2018, 6:51am

I am using the Demo account as if I am trading on a Live account

I always bear in my mind that I am trading with my own money while trading on Demo account. That’s why I always feel all the emotions or sentiments during my Demo trading which normally people sense while trading on a Live account with the real money.

Tom_Hoang · March 27, 2018, 6:56am

Hello Sufshiken,

You can not have a felling like trading on a Live Account if you are using Demo Account.

Here is what i did. Hope it can help you to have a road map.

step 1: learn School of babypips as you did and trade demo with a small account = $1000

step 2: keep trade demo account for 3 months, made a journal, pick some Technical Analysis Indicators, follow trade management, money management.

step 3: learn school of babypips second time while trade demo, be familar with some indicators, TA patterns.

step 4: while trade demo, create your system base on indicator and test it on demo. keep track of your profit, loss to see if you make progress. If you can not make money with demo, do not open live account.

if make money from demo. Decide which type of Forex trader you want to be: Part time, or Full Time. Do you have other source of income to live if you trade full time? and a lot of questions to answer. Then go to step 5.

step 5: open live account = $1000, trade small to be familiar with broker, software and adjust your feeling. What is your profit Goal?, What is your risk per trade? Is your profit enough for living? What if you lost money? After making profit, you can add more fund to trade. My recommend is to trade for a living:

Account balance should begin with: $25000 with leverage is 1:50 for U.S. Trader
Profit Goal is 5% of $25000 = $1250

step 6:Keep Journal. During trading time? There will be up and down. Some people will make stable profit for living after 2 - 4 year. To be honest, 95% of Forex Trader lost money. So get some advice from Good Trader who is actually make money by Trading not Gambling!

Thanks and Keep working Hard!

anon58863749 · March 27, 2018, 8:30am

Thanks for your detailed advice @Tom_Hoang

anon58863749 · April 23, 2018, 11:41am

Greetings Everyone.

Here are my analysis on USD/CAD pair on the basis of current scenario on Daily, 4H and 1H Time frame charts.

Daily Charts

On the Daily chart the structure of the pair showing HH and HL, which means the start of a Bullish Trend.
USD/CAD has showed a recent Pullback and it is now trading in the 3rd Impulsive Wave.
There is a Kumo Breakout and price is trading above the Kumo. However, the Kijun Sen, Tenken Sen are almost Flat and the price is below the 200 EMA.
The current price is just touching the 61.8% level of Fib ratio.
The price has broken the 4H TF trend line (Green).as well as the Resistance Area (Red dotted lines) around 1.26332.
On the daily chart, there is a major resistance area at 1.28869 just below the Fib level of 1.272% (1.29373).
One can get almost 150+ pips, if he/she enters into Long Trade above 200 EMA (1.2721) and take profit below the major resistance level of 1.28869.

4H TF Chart

1H TF Chart

*The position is more clear on 4H and 1H time frames… The price is trading within a 1H TF channel.

*The price is above the Tenkan Sen (Red Line) and Kijun Sen (Blue Line) and Chikou Span (Purple line) is also trading well above the price.

Conclusion:
So the overall trend is Bullish as per my analysis.

**Disclaimer:__**
Please note that no one can predict future. What I have posted here is just my own opinion/analysis (which might wrong). So always take precautions before taking any Buy or Sell order to secure your Capital.

Always use stoploss and trailing stop to save your capital as well as profit.

dudupips · February 23, 2018, 7:30am

professional and lucky,u are not newbie.

anon58863749 · February 23, 2018, 7:34am

@dudupips Thanks for your appreciating remarks. But I still assume myself a Beginner in Forex trading.