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Why I'm Proud of Myself (Now)
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Splexin

Membre depuis Apr 11, 2011  202 messages Splexin May 20 2011 at 15:01
Yup...I was right...EUR has since taken a skydive....could be 30+ pips further by now. Oh well. The other trade ran flat, so I got out with enough profit to cover the cents interest I was charged this week. I actually could've got out with a few dollars but was busy playing video games and didn't check the charts for an hour lol

Looks like I'm probably done for the week so will try again Sunday evening when Tokyo opens or if no opportunities then perhaps Monday or Tuesday evening. I would prefer to end this week on a better note, but I have erased quite a bit of losses. My goal is to be back in +profit by Wednesday.

I ended last Friday (13th...ironic ha) down nearly -15% but managed to bring it to -5.25% a week later. Which means I gained about 10% this week. Not too bad...eh? Now if only I could PROFIT 10% every week!

I think I would be happy with 40-50% a month. (Not necessarily 'doubling' my account every month as I am trying to do, BUT I have gained 10% this week with only 8 trades--- not being aggressive at all.) At 50% per month I would almost be up to $20K by the end of the year. And then I start my 'millionaire-in-18-months' challenge, doesn't hurt to dream wink

Splexin

Membre depuis Apr 11, 2011  202 messages Splexin May 23 2011 at 23:16 (édité à May 23 2011 at 23:27 )
On Friday I actually got into another trade...a complete 'no-brainer' as they call it (overbought Stochs, piercing uppermost Bollinger, tweezer top reversal candlestick pattern, etc), and held it over the weekend. Used half-size position 'just in case' but now I wish I had used full size I normally trade! Currently 100+ pips into profit, stop-loss is beyond breakeven, ZERO risk, so I'm going to let it run. If it hits my target, all previous losses will be erased. Actually could've got out of it early this morning and it would've left a percent or two of losses remaining, but the price I got in at is a peak and consolidation is due to drive it further downward. Will be disappointed if price retreats and hits my stop loss, but since no matter what it will end with a profit, so I guess I can't complain!! smiley

In the meantime, I have been using my time to put together an effective forex trading plan to reach $100K within 1 year. I am confident that it can be done. Once I get past Month #1, all it takes is 600-700 pips a month profit and I will hit $100K by the end of May 2012. Only requires 2-4 wins per week of 55-60 pips each. Risk is maximum 2% of balance (not equity) for each trade. Much less ambitious than my original idea of 'doubling' the account every month (would result in over $700K lol), but then again it is much more attainable. I will be launching this plan into effect starting this June 1st.

Splexin

Membre depuis Apr 11, 2011  202 messages Splexin May 24 2011 at 14:12
Dummy me waited out too long and gave back some of the profits upon a better inflation report. Still ended up with ~74 pips but my next two trades were placed and have been stopped out while I was asleep! sad]

Ugh, I was doing so well! Currently in another trade but down 10 pips.

Looks like I'm still going to be stuck at -5% for awhile fat

Also not happy with Oanda right since they close my trade 1 pip (3 pips on MT4) before a stop-loss which it actually never hit! Can they do that?? I am going to try to get a credit but doubt they will give me one.

speki

Membre depuis Nov 18, 2009  735 messages speki May 25 2011 at 13:15
Spread, it was probably the spread. Market price plus / minus the spread hit the SL.

Splexin posted:
Also not happy with Oanda right since they close my trade 1 pip (3 pips on MT4) before a stop-loss which it actually never hit! Can they do that?? I am going to try to get a credit but doubt they will give me one.

Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Splexin

Membre depuis Apr 11, 2011  202 messages Splexin May 25 2011 at 17:11

speki posted:
    Spread, it was probably the spread. Market price plus / minus the spread hit the SL.

Splexin posted:
Also not happy with Oanda right since they close my trade 1 pip (3 pips on MT4) before a stop-loss which it actually never hit! Can they do that?? I am going to try to get a credit but doubt they will give me one.



They explained it to me. It was a Short order so price goes on Ask whereas I was looking at Mid and Bid.

I've lost 3 in a row so now down -6% things aren't looking great I wanted to be out of the hole by now sad]
All started with me not getting out when I should and not staying in when I should! lol I was in AUD/USD but got so impatient of it stalling that I got out with $1 profit but guess what? 10 minutes later it took a dive! Aaaarrggh! yell

speki

Membre depuis Nov 18, 2009  735 messages speki May 25 2011 at 17:27
LOL after meat mustard yeah I know.
Try some relaxing music.
Did it ever cross your mind, maybe you should hit BUY instead of SELL and SELL instead of BUY? You'd be up 6 % now ... easier said than done I know LOLZ

Surround yourself with people whose eyes light up when they see you and who have no agenda for your reform.
Intu

Membre depuis Oct 22, 2010  4 messages Intu May 25 2011 at 17:45 (édité à May 25 2011 at 17:54 )
Share your performance. Let others see what you are doing.
You will receive praise (and criticism), but it will help you evolve.
Others have gone through the same trials and difficulties.

Reading your posts, it feels like you are on an 'emotional rollercoaster',
I only think that because I have experienced something similar.

Either way,
Good Luck!


Manage and Limit your Risk.
Splexin

Membre depuis Apr 11, 2011  202 messages Splexin May 25 2011 at 18:29
LOL speki yes of course but you see the market is out to get me and always does the opposite of what I want tongue
And actually I would be far higher than 6%....I've gained 19-20% this month....but because I lost 25% last month I am still down lol

@Intu Check your PM. As mentioned before I'm not keen on the whole world looking over my shoulder, I have enough difficulty as it is. Maybe when I actually start profiting I will make it public tongue

Emotional rollercoaster, yes. But getting better, stronger, and wiser every day. Just need to work on my patience a bit. I am still tempted to over-leverage but always tell myself that's what got me in the hole in the first place. When you look at the trades you will see that lol Some of my trades were just pure dumb moves, others occurred just because. I win more than I lose but because I don't let winners run I am still down.

Splexin

Membre depuis Apr 11, 2011  202 messages Splexin Jun 02 2011 at 02:13 (édité à Jun 02 2011 at 02:27 )
Great start to June.....almost break-even now....I was initially scared because Monday I was back to 13% under but stuck to trading mechanically and have since had winning trades....

Currently only -0.55% (-1.98% abs) down so one more good trade should put me back on top. Made 6% just today!! Had I waited 5 minutes I would be in profit about $20....ah well....lol

Amazing what a fight this has been. My trading has definitely evolved, and my performance is proving that my system works. Even with losing 5 trades in a row (yes, consecutive losers) this week, I am still HIGHER in gain and balance than I was this time last week. I am on the brink of $1500 and goal is to reach $2000 by the end of June. I have a written trading plan with goals and if I hit monthly targets on time and on cue then I will have $100K by this time next year. Stay tuned. wink Anyways, I think I am going to take an early weekend. Don't want crazy NFP to hamper my mood smiley

eternaltrader

Membre depuis Dec 03, 2010  18 messages Aarish (eternaltrader) Jun 06 2011 at 20:33
lol awesome :)

Good luck and hope you would reach all your goals

Age doesn't matter till you know what you are doing
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Trade Balance (34 min)
After Hours: Apple shares jump 8%; Faceb...(11 min ago)
EURUSD 1.38169 GBPUSD 1.67802
USDJPY 102.503 USDCAD 1.10311
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