Hello ALL! Welcome to my first official Forex Journey!
My name is Cey from U.S.A. I’m 1 year old in the Forex Market.
After 1 year of practice and finally came up with strategies that fits my trading style(Intraday Trading), I am putting it to the real test. I have no mentor or what so ever so everything I learned so far is self thought. The Goal is to try to hit 1 Million by the end of the year but we’ll see where I’m really at when the time comes. I’m a visual person so I will be using technical analysis to help with trading. The initial plan was to compound 20% each day but after first day trading today(07Jan2019) with the real account I can only max out 6% not 20% like on the demo, might be due to the account size, idk. Demo started at 50k while real is only 250. I will most likely be doing 1 trade 50pips pre day, or if I feel like scalping I will do 5 to 10 trades of 10+pips pre day to reach my 50 pips pre day traget maybe even up to 100pips or more pre day if I see that the market is moving in my favor. There’s a high chance I can reach it if I win 3/5 trades at 60%W/40%L. Strategy is at 89% win ratio.
What I will be using:
Initial investment: $250(Minimum deposit requirement from Broker)
Broker: Forex.com
Leverage: 50
Risking: 1:1, 50pips, 6% of Balance PRE. DAY.
Daily Compound Interest of 6%
I will scan through 15 pairs to find a good pair to trade, but will mainly focus on trading GBPJPY.
These are the pairs I will be looking at because they are the lowest spreads the Forex.com offers(not the greatest spreads):
AUDCAD/ AUDUSD/ AUDJPY/ CADJPY/ USDJPY/ EURJPY/ CHFJPY/ GBPJPY/ EURCHF/ EURGBP/ EURUSD/GBPUSD/ NZDUSD/ USDCAD/ USDCHF.
DAY 2.
The 1 loss was mistaken enter in trade so decided to take a L, loss -0.60 cents.
Did my math wrong in my head and forgot to add the spread difference so a little short from daily target.
But over all we’re above 12% since daily target is 6% and 50pips pre day reached so that’s good and only 0.20 cents difference from the main target. Well recover that in tomorrow trades.
DAY 3. Was a bit inpatient as it was getting late and almost 8hrs since I entered my first trade so I decided to cut pip short and scalping a different pair to make up for the rest of the target. Only to find out 25mins later that if I were to just stick to the pair it will reach my daily target. But overall my 3rd day target was reached and that’s all it matter.
Daily target was 6% a day, so for Day 3 is 18% but ended the day with 20%.
Hi there, it’s from fxblue.com or you can use myfxbook.com like most people do. Both works the same, just sign up for an account on either sites and connect your broker account to it and it will collect all your data and display for you to see.
Thanks.
I won’t share everything because it took me countless hours of screen time, back testing, and almost a year to develop this strategy that fits my style of trading, but I use the simplest and effective indicators out there. MA and BB and Stoch as my three main indicators and I trade on 1hr TF for day trading and if I feel like scalping I use 5m TF, play around with those 3 and you can pretty much find out my strategy…
DAY 4.
No gains from yesterday trade(10Jan2019). Break even.
Was indecisive and impatient on what pair to trade cause me to miss entry points. So moving forward will only solely focus on GBPJPY and remove all other pairs.
Since there wass no gain and I’m behind a day I will switching up some strategy and play a bit aggressive in the next following days to catch up on.
It should be fine, I got strategy to play aggressively, but was just trying not play it on this account. My other account is already double while this one is gaining 1/5 of it and both accounts started trading this week. Will start next week and use the weekends to study more.
Cey - best of luck; I have to say that you sound like the kind of guy the FX “educators” live for. The biggest favour anyone could do for you is to point you in a more realistic direction - away from indicators and all the rest of the retail nonsense. Look for Paul Scott FX; he is pretty savvy in the markets. Best of luck to you.
How do we go about joining you on this journey? I would like to follow along to learn as much as I can. I also am new at this and it seems like you are way ahead of me so I would like to see and learn.
Day 6. 14Jan2019
This week will be recovering week due to last week losses. Reach our 50pips but 1dollar short on the daily 6% gain. Decided to not play aggressive and stick to the main plan.
Congratulations and GL!!
