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$25 to $25k in 10 days (By psymon)

Gain : -99.9%
Drawdown 92.70%
Pips: 84.0
Trades 19
Won:
Lost:
Type: Real
Leverage: 1:500
Trading: Manual

$25 to $25k in 10 days Discussion

psymon (psymon)
May 04 2011 at 08:22
61 posts
i'm going to withdraw $28 so i start with a clean sheet, so as soon as my broker takes it out its game on! maybe not tonight, going out to celebrate! lolz.

probably get back onto it tomorrow afternoon, thurs & fri this week, thats enough time to finish it lmao.

Thanks for the support guys, this wouldn't be half the fun without you.

psy

its all down hill from here!
psymon (psymon)
May 05 2011 at 01:40
61 posts
All right, i'm back in the game.

a real quick short before the retail sales, but i should have had a sell limit order in at tp. might just have to save that for the nfp tomorrow.

have a great day all

psy

its all down hill from here!
psymon (psymon)
May 05 2011 at 01:51
61 posts
just thought i'd share my AUDUSD 1h chart for anyone who's interested...

Attachments:


its all down hill from here!
alienek (alienek)
May 05 2011 at 07:24
8 posts
2 down. Congratulations :)

And Thanks for the chart :) I look on it... and I have only one conclusion: I still need to learn a lot :)

psymon (psymon)
May 05 2011 at 11:39
61 posts
hi, alienek, the charts not as complicated as you think, once you start to break it down, but yeah there is a lot of information on there!

the vertical dotted blue lines are my previous trades and next to them is an arrow giving direction,
the horisontal red and purple lines are daily pivot points, ]
the diaganal white lines are trend channels
the yellow diagonal lines are a simple zig zag, and the smaller red line is part of the zup indicator.
the yellow numbers are from zup and are simply fib numbers with dotted blue lines.
then just for good measure i have bollingerbands.

in the lower window is a stoch and an RSI set to 4.

because i am only looking for 25pips i'm using the same setup on lower time frames, which is why the 1h chart isn't generating the signals that i'm trading this account from.

Its just a case of balancing information and ability to process it, you could have 30 indicators and only pull the trigger when all of them confirm, but you would only take 1 trade a year! If you only have one indicator you will get a lot of false signals. I wait until i get a 4 indicator confirmation and only then i pull the trigger.

Where in Indonesia are you? i'm in Bali at the moment...

its all down hill from here!
daCoops
May 05 2011 at 12:12
45 posts
Brilliant. And great explanation of the indocators that you use and things.

Any particular reason why you only concentrate on AUDUSD ?

psymon (psymon)
May 05 2011 at 12:51
61 posts
hi daCoops,

because i'm starting with only $25 it limits the pairs i can open, for example with 500:1 leverage GBPUSD costs about $32.94 and gives back $1 per pip, obviously i cant afford to open a single position.

the NZDJPY however costs 15.7 and gives back $1.25per pip. so its cheaper to open and can make you more money, the catch is that volitility is not great, so for this challenge i needed a balance between cheap and good volatility, which the AUDUSD has.

As i trade the AUDUSD for real i all ready have a sense of whats going on with the pair, and dont have to do any extra homework on a new country, which makes life a little easier! lol

hope this helped...

its all down hill from here!
psymon (psymon)
May 05 2011 at 23:26
61 posts
DOH !

its all down hill from here!
tapachula (tapachula)
May 07 2011 at 03:29
193 posts
🙄

Yeah i know my grammar sucks, I speak spanish. Sorry if something doesnt make sense ;)
horacioo
May 07 2011 at 03:41
46 posts
oops.
better luck next week

have a great weekend!!

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