I started self discovery and learning in forex from Youtube videos and a couple of online courses since may 2013 and had been using demo till end aug 2013.
Was glad that i have been finally able to move a step forward to open my first live acct in sept 2013 after 4 solid months of demo trading and currently using my 2 strategies which I have backtested a 66.91% accuracy from jan 2013 till end aug 2013 to trade live now.
I shall begin posting my live acct results from now on.
3 important reasons why:
To help newbies like myself gain confidence in the belief of forex trading.
To prove what the professional retail traders had always said are true i.e as long as u have a good strategy which falls between 60-70% winning accuracy then u will be profitable as long as it continues to work out till the day market changes totally and u realized your strategy don’t work anymore.
To share my real experience that trading forex is not easy but as long as u have the interest to learn, time and effort to customize a good strategy (backtesting a must) and apply proper money management, discipline, curb emotions, etc then u will have chance to belong to the 5% group who wins rather than the 95% who loses most of the time.
I do hope that by being the first to start this kind of thread posting live results, those who are more experienced and have been profiting in live acct may also wanna post their results here to help one another boost confidence and share their experiences here.
I wish you all the best in your quest. What immediately jumps out however is your trading relatively short time frames judging by your TP or stop. Therein lies the dilemma. The stats show that the shorter TF’s yield the poorest results i.e. most intra day traders lose money. That aside, good luck and good hunting!
Understood what u meant but that’s how my strategy works cos its mean to be intraday and I’m actually only trading $10k volume per execution that’s why maybe u see the returns in dollar value so little but throughout these one and half week if u calculate in terms of pips profited I have been making almost 400 pips already which I think is consider quite ok for a newbie like me.
Anyway, let’s all share out results together here for benefit of everyone! : )
[QUOTE=“mesaboogie;530795”]Great!Keep going.I noted the pics are from a phone,if you can share your account and a read-only password.That would be a huge help for us to learn.[/QUOTE]
Hi Mesaboogie,
Yes the screenshots are from my iPhone using MetaTrader app.
I don’t use desktop to trade since I started live acct so can u enlighten on how I can share acct using read-only password? : )
You analyze the market using a mobile phone ?[/QUOTE]
Hi Perry,
I know this is crazy but yes I’m using only my iPhone to analyze n execute trades daily as my strategy doesn’t require indicators like eg Fibonacci so don’t necessary need desktop trading. : )
You should consider getting a ‘myfxbook,’ great way to see your account growth and statistics. It’s all free and it looks like this; myfxbook.com/members/eddyble/eddyble/689875
My live results for 11-12th sept 2013 as attached.
11 wins, 2 losses, 2 break-even trades.
I really hope those experienced traders who have used their proven strategy and made money in the forex market can post some of their results here to motivate newbies, thanks! : )
I have also posted my current live open positions for today 16th sept just to see what might happen till end of today. Will post the end results later.
For those newbies who are interested to find out more may email to me <[email protected]>
Woah, pretty cool set of trades you have there. I’m also curious as to how you conduct your analysis or watch charts through your mobile. What other apps do you use?
[QUOTE=“PipDiddy;534360”]Woah, pretty cool set of trades you have there. I’m also curious as to how you conduct your analysis or watch charts through your mobile. What other apps do you use?[/QUOTE]
Hi Pipdaddy,
I basically have derived my own set of strategy and doesn’t require desktop trading as my analysis involved current indicators available on mobile MT4 app.
I do use Netdania to read news for fundamental analysis as well at times but mainly still follow strictly to my rules to apply my proven strategy.
I won’t say it’s easy as executing live trades and demo is different cos emotions are involved. I’m just trying hard to remind myself each day that I must follow my set of rules and always apply SL and TP on each trade and not deviate from it.
People who saw my results thought it’s easy but behind are the hard work and effort I put in to backtest my custom strategy before applying it on live acct.
For those who have emailed me already I congratulate u as u have learnt something invaluable from me as my giving back to the forex community.
I do hope more newbies have the belief and confidence in trading forex so that we can all become financially free someday and remember, u can doubt anything u want in life but never ever doubt your own ability to become successful.
Just long term stats on the shorter TF’s? :33: