The Backyard Trader (by fxinvestfund) Snabbstatistik
Vinst: -99.12%
Förlustsekvens: 99.85%
Pips: 1.5
Positioner: 387
Vunna:
Förlorade:
Typ: Riktig
Hävstång: 1:300
Handel: Manuell

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The Backyard Trader Diskussion
Föregående 1 2 3 4 5 Nästa
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) May 29 at 17:56
Many of you will not know the background of this account so I'll explain quickly.

The funds from this account has been build up from a $9 account. Once I've reached $150 I created a new account and build it up to what it is at the moment. This is the short version....

The Strategy:
I trade Key Price Levels combined with Fundamental Analyses and Economic behavior.

Risk = Medium

My goal is to build this up to a $500 and then $1,000. I'm sure I will hit ups and downs a long the way, but if I have learned a very valuable lesson these last couple of months it is to accept your losses and take your winnings! If you end up in profit at the end of the day or week it does not matter how you got there - as long as you controlled your risk!

Feel free to follow me as I set myself up to take this account to $1,000!

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 04 at 16:46
So I'm on $281 acc balance and hopefully I will reach $300 tomorrow!!!

Let's do this!!!

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 05 at 17:00
fxinvestfund posted:
So I'm on $281 acc balance and hopefully I will reach $300 tomorrow!!!

Let's do this!!!


Very pleased to have reached my $300 acc balance!

Now my next goal is $500....

Here we go!

Trade safe!
L3CAP

Medlem sedan Sep 29, 2016  232 poster L3CAP Jun 06 at 06:55
Good stuff!!!!! Loving the journey, hope you reach your goals!!!

ourmyfxbook@
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 06 at 14:44
L3CAP posted:
Good stuff!!!!! Loving the journey, hope you reach your goals!!!


Thanks!

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 07 at 17:53
Today was a struggle with no structure in price and spikes all over. I'm very pleased to walk away with 3% profit for the day. If price action is the same tomorrow I don't think I'll be trading. That will leave me with 48.5% profit for the week, which I'm very pleased with!

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 09 at 14:25
I want to stand still for a moment and discuss Risk. We all know Forex Trading is Very Risky. We all know if you are not careful you can loose/blow your entire investment in a matter of hours or days if you don't control you risk. If you did not know that then you know it now.

How do you control your risk?

You can only control your risk through discipline!

    Discipline to always trade with a SL
    Discipline to not move your SL hoping for price to swing
    Discipline to accept your loss and move on
    Discipline to not seek revenge the day you loose money
    Discipline to not over trade your account
    Greed = A Lack of Discipline

This is an aspect I have been working on very, very hard these last couple of months of my trading career. Looking at my trading stats you will see that with my current trading style there is a 15.76% chance I can loose only 10% of my account and a 2.0% chance to loose 20%. Now look at the Weekly Return of 64.10% and the YTD return of 167.69%. For me the risk is definitely worth the gain? Even if I loose 10% of my account twice during a trading week I still walk away with a decent amount of profit and that is what is most important. Not so much how much money you can make, but how much money you can make while risking as little as possible.

I'm not saying I will always make money and I'm not saying I will never loose 10% or 20% of my account. I'm saying my trading strategy is of such a nature that currently it has proven to be successful in the most important departments, which is Risk and Discipline!

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 13 at 15:32
This is one of those weeks where I had to Hedge my trades in order to limit my draw down, but hey, this is all part of trading. If my analyses is correct I should be out of the dip by tomorrow, leaving me with Friday to place some new trades. This week so far I'm -6.31% plus -0.98% for the day.

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 14 at 03:44
You might ask why I am holding on to my Buy Orders and why I Hedged myself out of yesterday's Volatility? Well, my analyses is still showing me a very good opportunity for long orders. Also looking back at previous rate increases by US you will notice similar price patterns. Some economic factors might have prevented this to play out yesterday, however there is 2 more trading days left for this week and I see price making it's way up to my TP levels
Bifogade filer:

Trade safe!
fxinvestfund

Medlem sedan Oct 12, 2013  153 poster BackyardTrader (fxinvestfund) Jun 14 at 20:31
$500!!!! Yes I made it!!! I squeezed 2 more trades on USDJPY and AUDUSD and reached my goal of $500!!!

However..... this is only the beginning.... next target is $700..., but I'm putting no time line on this, because I'm not going to put myself at risk to make a certain amount of money in a certain amount of time.....

Lets Trade!!!

Trade safe!
Föregående 1 2 3 4 5 Nästa
Industrial Production (YoY) (8h 56min)
NewsWatch: Avon ladies sue company for a...(3 min ago)
EURUSD 1.13274 GBPUSD 1.27614
USDJPY 113.608 USDCAD 1.31767

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©2018 Myfxbook Ltd. All Rights Reserved.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.