Pretty impressive for a months work.
May I ask:
1) How long have you been trading since you made a first real money deposit?
2) How much money did you lose before becoming profitable?
2) Your average hold time per trade
3) Which time frame do you trade mostly?
5) How much time do you spend in front of a screen per day and what are your focus is while doing you analysis?
6) How does high impact news such as Nonfarm payroll affect your open positions? Do you close them before the news, shave some off?
Thank you, my fellow profitable trader.
'impressive' is a matter of perspective. But I am certainly grateful to be experiencing some promising success after many false starts.
In answer to your qs:
1) How long have you been trading since you made a first real money deposit? I began in October 2008. I actually started immediately with real money and CFDs at CMC Markets, turning $4000 into almost $40,000 in 4.5 days. And in the afternoon of Friday that week, I lost the entire amount. I was way over-leveraged, but it was a valuable lesson in risk management. The AUD had never before seen such parity with USD, even exceeding it, and I took a 'punt' expecting that it was fundamentally over-valued. My loss resulted from a small correction which occurred somewhere about US$0.90-0.92 I think.
2) How much money did you lose before becoming profitable? My primary account with IC Markets was started in 2013 and it has losses tracking about AUD$320,000. I have held numerous other accounts from 2008 to 2013 with many other brokers, so I guestimate my losses may be in excess of AUD$600,000 (?). Mind you, these losses are not entirely money I worked for: 1) it includes commission rebate income of perhaps AUD$20,000 (?) and 2) tax refunds of approximately AUD$20,000 each year. You pay for education one way or another (time, effort, life experience, and/or university).
2) Your average hold time per trade: I prefer less holding time, as turnover helps me achieve volume to increase my commission rebates, and makes my broker happy also. I have attempted 'HFT' of-sorts, pumping 40,000 orders a day through my account, but my broker didn't appreciate the excessive server messages. Also it was very high risk, with trades in a grid fashion but very close together, and using martingale. Obviously, it didn't survive long since it was martingale: risk increases exponentially.
3) Which time frame do you trade mostly? My charts are 5 minute charts. I prefer the smaller timeframes for greater trade frequency.
5) How much time do you spend in front of a screen per day and what are your focus is while doing you analysis? My screen time is spent purely on setting up my VPS with MT4 terminals. Automated trading doesn't involve any analysis or hands-on trading. I have three VPS, and it took me all of about six hours (or less) to set up my third VPS. Now I just monitor my results and MT4 connectivity on trade analysis websites myfxbook and FX Blue.
6) How does high impact news such as Nonfarm payroll affect your open positions? Do you close them before the news, shave some off? High impact news events are excellent profit opportunities: I always look forward to the volatility they cause. The systems I use usually have an existing open grid, so when an event happens the volatility can often close the grid. If not, it may simply add to an existing grid. I keep in mind: 1) 'All unsustainable moves are corrected.' - Scott Barkley (forex trainer, 2) 'Price is never right'.