Very nice work for 3 days. will watch with interest. Do you have particular weekly, monthly, yearly goals? how many hours per day are you trading actively? to what extent are you using orders? or not at all?
If this is your only account - then I hope in the long term its really successful as its always good to read a success story.
I wont even pretend to make any statements about advise since I’m such a beginner.
Cheers and keep up the posts.
Hi Aussie. I wish you the best of luck & hope things go well, but if all else fails, just remember my last post.
Have a good weekend. Don’t forget about the misses. The woman need attention too. All part of the bigger success.
[QUOTE=“Tyrone Archer;602117”]Hi Aussie. You really need to set some risk management rules per trade & also some strategy rules or really your just gambling. I’ve been trading over 5 years supply & demand with very little to show for it. Its because I never had real solid confidence until I started back testing on Forex Tester 2. There is free software out there to back test, but you must back test a strategy before trading live. I know there are traders who say this is not necessary & forward testing is the only way. I was one of those & at one point built my account up nicely until I had a string of losses that dented my confidence & belief in my strategy & rules. The outcome …I missed the good trades & my account dropped drastically. I’ve since gone full circle now & believe there are many strategies to make money in the markets as long as you back test & believe in them. The back testing is like putting a hoover through its quality control test before starting mass production. You need to throw everything at it to see if it survives. No different for a trading strategy. No strategy works all the time but in the long term it should ride the storm and increase your account. I hope this helps one day when you’ve gone full circle too. All the best Tyrone[/QUOTE]
Thanks for the advice mate, i strongly agree i need to work on my risk management.
Ive been flirting with forex on and off now for about 4 years (extended breaks in between). I actually started on forex binary options but have since converted solely to spot fx.
Im not a fan of back testing. I know its one of those things that no one is or ever will be right about, i guess i just believe a system that is back tested and proven profitable is exactly that - proven profitable in the PAST…
Id like to think that one day ill be a trader that can adapt minute by minute day by day, without years of back testing.
Im also not at all a fan of demo accounts - i don’t trust brokers, Period. Any one that is handling my money that isnt me, cant be trusted (lol).
thank you for the post however 
[QUOTE=“BlueHenry;602617”]Very nice work for 3 days. will watch with interest. Do you have particular weekly, monthly, yearly goals? how many hours per day are you trading actively? to what extent are you using orders? or not at all? If this is your only account - then I hope in the long term its really successful as its always good to read a success story. I wont even pretend to make any statements about advise since I’m such a beginner. Cheers and keep up the posts.[/QUOTE]
Thanks BlueHenry!
Monthly goals, i have thought about this a lot… I guess, more winners then losers and on avg higher profits then loses per trade lol…
Id like 100% / month - i know how unrealistic this sounds, but it would be nice!
$200 initial
1 month - 400
2 month - 800
3 month - 1600
4 month - 3200
5 month - 6400
6 month - 12800
7 month - 25600
8 month - 51200
9 month - Quit my day job - LOL
This is my only account yeh, i run a demo but don’t take much notice of it anymore, i usually profit on demos, real money is much harder. If i can prove 100% in my first month ill deposit some more $
I trade usually about 2 hours a day, about 10 a week. Usually during london and tokyo cross and london and New York cross.
Do you trade live? How long have you been in forex for?
Thanks for the post mate
[QUOTE=“Tyrone Archer;602730”]Hi Aussie. I wish you the best of luck & hope things go well, but if all else fails, just remember my last post. Have a good weekend. Don’t forget about the misses. The woman need attention too. All part of the bigger success.[/QUOTE]
Haha
LOVE this advice mate,
I actually read this half hour ago,
Put down the Ipad, went and kissed my missus, gave her a snuggle and came back!
Solid advice!
Women need lovin to Traders!
MARKETS OPEN IN 8 HOURS, Exciting time for us all!!
Strategy this week - Up until tonight i have been trading solely on my Ipad (Mt4 App) I know have a laptop with secondary screen running MYFX (previous subscription) and MT4. I have printed a fundamental calendar which is going to help me big time. Im using currency.com (on ipad) as my technical backup and my Forex Fundamental calendar and various online opinions (on secondary screen) as fundamental backup and my main graphs on Laptop.
Account to date: $318.00 AUS
Ill be mainly targeting the London / Tokyo session and possibly the New York / Tokyo session. Depending what time i have during the day i may look at the aussie session as well.
Keeping it simple this week. - Lower risk.
Keep my margin above 600% if it falls below this, cut losses.
- if i enter a technical trade - ensure no announcements are around the corner.
- if i enter a fundamental trade ensure the technical agrees with it / vice versa. RUN WITH MY PROFITS
- if i lose my first trade - turn everything off - NO MORE TRADING FOR 12 Hours.
End of week goal $400 in account - I HAVE ALL THE TOOLS I NEED TO SUCCEED!
Happy trading! Will post again Tomorrow night
I am going to continue to watch this with interest! Liking what I am reading so far! 
Yes, my goals look very much like yours. Doubling every month. I did in fact do that for 2 months, but then screwed it all up.
Been going live for about 6 months, but only 2 of them successful. But I count it as experience.
I am still using demo accounts as well, and yes - as you say, always nice to see a profit .
On Friday I made $25000 raising a $50000 account to $75000. Wish that was real.
Of course thats just messing about and didnt contain any risk management. Just as easy to drop $25 000 in 1 day (which I did as well. But Im just getting used to a different platform and noting the differences between a few platforms.
Having a monthly doubling goal is great and thats what i continue to have as a goalpost, but it wont help much if you get to the 4th or 5th doubling and now have $25000 or even $50000 and then loose it due to overconfidence and a failure to continue Risk management .
It is of greatest value to have made smaller gains on solid ground than greater gains at high risk (advise to myself).
Just keep on doing well, but protect yourself.
I myself will see what I can do with my $1200, and I will be starting a $100 account soon in a 1:200 or even 1:400 leverage account. Currently Im in 1:50 which I will keep for my main trading.
Do you have a plan for removing funds. I would suggest that by month 9 you could have removed some amount from trading - and also that you then of course will not be at your 100 000 goals but will have a safer foundation ?
One step at a time. Don’t focus on removing funds until you can make funds many years in a row consistently. That’s the real challenge in trading.
We are all gamblers, but a gambler with an edge will win in the long run. Card counters in black jack increase there edge. Poker players with strict rules on to how they exploit there mathematical skills increase there edge.
Traders who back test years of data to gain belief in there rules & strategy have an edge.
An edge is a higher probability of something turning in your favour over a random series of events. I.E. a coin toss. No one has an edge with a coin toss but if there was you must test it then exploit it with a strict regime.
No one can guess price movement consistently. There is no edge just gambling. If this doesn’t make sense now, it will a few years down the line.
The only real advice anyone can give is find an edge. Hard work, research & many years of data to back test is the only way. Don’t kid yourselves with addiction to gambling to feel you can beat the markets. You wont.
This may sound harsh but its the truth.
On a lighter side, there are many ways to trade with an edge, the real secret is which edge can you bear the losses with, without changing your strategy or rules. This is why so many traders have to find there own trade tolerance.
I wish you all the luck but luck wont cut it in this game.
Hope this helps…really…
Currently riding the GBPAUD sell train… woOYAaa what a ride
Got SL for +$32
Could have taken It for +$70 but i guess its best to always ride the train
Acc at $351
I had a couple of smaller trades this arv that went against me.
Nothing more then a couple of $
I know this may seem crazy but…
Im shorting GBP
Hopefully these trades go for all night Maybe a few days… Would be my longest yet, lets see
I think GBP is in for a bit of a shock.
Closed-
+22 AUG/GBP
+8 CAD/GBP
Technicals are starting to reverse, but a good trade i must say, was backed by technical and some fundamental opinions. nearly 10% of my account over night. I had some losses last night however, only minimal.
I suspect GBP will continue to drop but i made what i wanted out of it and didnt want to run further. GBP will be interesting after CPI release later today, (about 7 hours away i think)
Starting balance $200
Account at $372.00
2 and a bit weeks in.
nothing wrong with that - good going so far!!
Good luck to you man
Since you are trying to double your account each month, why not withdraw some profits as you go? Say If you win 100 bucks withdraw 25, That way you will get some protection against the unthinkable 
I myself wanna do the same, double my account on a monthly basis,- eh, one day perhaps! :51:
Thanks rPIP,
I will probably draw back soon, the $200 acc was a trial for my 5k account, if i can make $200 into $1000 then ill dump 5k in.
Sorry for the lack of uodates guys been very busy but, still trading :), every night!
Initial Acc $200, 1 month ago
Balance is now $424.00
Absolutely carved up in AUD/JPY the last 48 hours after Aussie retail release.
Im going to post some more tonight, if anyone is interested in my mt4 detailed chart / orders ill log into PC and create and post here.
Thanks guys!
What is your strategy based on?
If you are new to trading, 100% yes, you will blow this account if you are risking 20% per trade lol.
“If feel this was my first educated trade im this account where i knew my resistance and support off the top of my head, i knew it was being overbought due to research on forex sights / indicators.”
The fact that you said “research on forex sites” shows you got no plan, you just visit investing.com and see “Strong Buy” and the MACD has crossed, then you buy, trading ain’t that easy. I suggest you scrap the indicators and learn to trade using price action analysis.
Check out the thread http://forums.babypips.com/free-forex-trading-systems/58037-price-action-matters-305.html
It is very good, and has some good traders there too…
BTW, I’m not a hater, I’m an experienced trader 
Thanks AdamJn,
Are you a fulltime trader? If so id love to ask some questions about risk.
The technicals i use,
I then confirm with investing.com
Then confirm with fundamental outlook
Edit, no hating
In regards to Risk.
I have 5k as a portfolio and only playing with $200 atm
If i blow a $200 acc well i have lost 4% of my account.
Usually per trade i risk 20-30% however my risk to reward is 1:3 so i stand to double up on my trades.
If my maths is right this means im risking less then 1% per trade…
I know this probably isnt logical but it what is working for me, and as we all know, especially you experienced guys, if it makes money then your doing it right, right?