Student trader's journey of endless Ups and Downs! Hoarding Pips!

Hi there fellow traders,

I’ve been visiting babypips.com and studying the Forex ‘literature’ for 2 years now. I thoughd it would be fun to share my thoughts on trading the money market.

I’m a 21 year old student and I think I have an addiction to trade forex (I enjoy it alot!). I eat, sleap, dream and sh*t forex :22:

I’ve been studying Forex for quite a while and demo traded it for a while. Since Februari 2014 I decided to go live and I made some significant profits in a relatively short period. Altough I am still a rookie and still have ALOT to learn to become consistent profitable.

As for now, I have a really bad drawback period due to my lack of dicipline to my trading strategy. (My profit loss ratio was +/- 80/20% which I was very proud of at the time :D). Despite that, I will recover from it and see it as learning money :).

I believe I have what it takes to become a profitable trader and by setting up this trading journal, I will share my 2 cents about how to collect those precious pips!

Greetings,

El Alumno!


Quite a really good streak towards the end of March, huh? Have you figured out the action steps you need to make in order to bounce back? I wish you the best of luck, mate!

Hi PipDiddy,

Thanks for replying. Feb-March was a really good (first) month. I sticked to the strategy and it worded all fine. Every trade I did set a stop profit of +/- 30pips. Taking small profits bit by bit everyday was my strategy. Untill the moment that money started to flow in I made how dumb as it is a classical trading mistake. I was becoming to ****y and wanted to get more more and more, trying to squeeze every trade to its max, which resulted that many profits turned into a loss :34:.

When I analyse my losing trades, I don’t know why I took them because noone of them fit my criteria and are just plain dumb moves (To blind and to greedy to make profits and take unneccesary risks). For now, I going to reset my mind and stick to the strategy to take small profits everyday and try to not give back any profits.

El Alumno