Now heading towards the 9800s…
“What a difference a day makes” says the song: how very true…
…9600s…
2100 pips cast off from my drawdown in two weeks or so…
Incredible
What a thread…
Still with Fxcm…
So…
After the ‘flash crash’ (if that is what it was) of October 2016, where I lost all my money in my live account (as I discussed in my FreeFX video here: FreeFX video: Time to admit Defeat? ), I opened a £50000 demo account with FXCM, with some help from @Jason_Rogers, in Feb.2017.
Since then, I traded that account and nothing else, first only through UsdTry (as discussed in my thread here: USD/TRY: an incredible pair ) then also through other exotic pairs, namely EurTry, UsdMxn, UsdSek, and UsdZar. Following an account rise to above £58000,between Nov.2017 and Feb.2018 I made some changes due to the UsdTry entering a long congestion period: trying to make money on other exotics I overtraded and reduced the account to between £10000 and £11000.
Since then, I brought the account up to about £36000 but then pursued long-term carry through buying Turkish Lira and managed to accrue nearly £2000 in positive carry. However, in August the Turkish currency crisis reached fever pitch and the Lira plummeted to new record lows each day until, in spite of careful management, I was margin called and lost a big part of that account.
In September I started rebuilding a strategy and some confidence: after some bad trades in unfamiliar territory, which reduced my account even further (to about £330), I started again on day trading and concentrating on the no-commission, low-spread, cheap maintenance margin requirements afforded by the Nasdaq100.
I am now approaching £1700 and I know that the trailing stops approach is working well.
The journey continues…
Happy Trading
5 Likes
December 2018.
That account got close to near-zero due to being chopped out of many positions as I attempted to day-trade the Nasdaq.
I opened a new account in October (see USDTRY thread) and doing okay with that.
Well, latest update… that Oct. 2018 demo account eventually died but I opened one in July 2019 and I did almost everything right, and as you can see on my UsdTry thread (USD/TRY: an incredible pair ) I am up by quite a bit… I am determined.now to protect capital to reach the end of the twelve.month period since opening this account with a positive P/L.
When that happens I will start looking at my.options…
@Fx.: I.am.including.you here as you asked about my trading…
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Hello.peeps.
Closed my long.Eur/Try and my.long.Eur/Usd trades.today, both in profit, bringing my account (opened.last July) up by 34%.
Happy trading
PipMeHappy
Up by +36.78%…
Three long EurTry trades today…
Is that all you’ve been trading on this account, EURTRY? TY!
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Yes,.and.some.EurUsd
Excellent results! I must make it over to your other thread.
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Account now up by 38.85% …
Account now up by +47%…
+61.98%…
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+75,04%…
This seemingly endless scaling of profit has had its difficult moments, so do not fixate on the percentage but think of the skills required to turn bad trades into good ones, recovering from losses, and just keeping going.
All.in.all it is quite a good run and it could be that I have found a way to manage situations that will serve me well for the foreseeable future, however it is never a case of a market (e.g. currencies) always giving the same returns or opportunities each year, so it may well be that the great runs on the EURUSD and EURTRY that I exploited may stall to a flat, choppy mess in my next trading year.
Still, I am happy with the way in which I have.managed myself, especially as I treated my demo money like real money and really looked after profits. This will give me.more.confidence to reconsider opening a live account in future, as it has been my.only profitable run of this kind since starting demoing in Sep. 2012.
Cheers
PipMe
1 Like
Thanks.
Closed Friday at
+81.26%.
Incredible.
hey dude, why no charts posted? reasonin of entry, exit, analisys etc
i think would benefit u and also ur viewers.
cheers
1 Like
@1odi basically I have traded the EurTry’s return to the previous uptrend and also the incredible fall-and-rise of EurUsd…
Technical, just using round levels and 100/200-day moving average levels as well as checking CME futures fx volume for Euro and Msci Turkey ETF index volume for Turkish Lira.
That’s it!