I am a passionate Forex Trader and I am in the market for last 6 years. My most active years in forex was between 2010-2012 when I ate, drank, slept forex As an IB of eToro I had brought over $250000 in clients deposits and had made over $20000 commission, my best month was October, 2010 where I made $9000 commission. Good Days As a trader during that time I blew 3-4 small sized Accounts as expected . Then I started learning forex and started making tiny profit.
In 2012 India's central bank Reserve Bank of India put restrictions on Indians sending $ outside India to trade forex. That was a big setback. I went out of the market for 3 years. But forex remained a huge interest for me. In May 2015 I traded one month Live with IC Markets and made 9% profit with Drawdown inside 10%. Then I took a break again from forex.
Middle of 2016 Forex Addiction came into me in a big way and I decided to do something about it. So, I started giving lots of time into forex this time only as a trader. I started reading charts, testing indicators, trading systems, price levels etc. After few months I understood one thing that I might not make constant profit in forex but I for sure will not blow my trading Account anymore as my understanding of the market was making me protecting the capital. That gave me confidence. I kept doing research and in April, 2017 I started a Demo Account without expecting profit but just to keep the Account safe and create a portfolio. But with time going by I started making profit. and I started noticing my trading system has potential.
In the last six months of trading I have had only one loss making month which was only like 4% and total net profit as of now 9 September, 2017 is 57%+ in closed profit. In the first five months of trading I had crossed DD over 10% only 2 times once it was 10.01%, and the other time it was 10.31% while average Draw down was only 4%. I have done my share of mistakes while trading like not following the system for sometime, changing time frame which resulted in one loss making month and my Draw down going to almost 18% in late September, 2017. I have recovered 70% of that draw down with fresh profit. What is making me feel very confident is that despite me making mistakes my trading system has managed to make me recover the losses I had because of my fault and still gave me healthy net profit for the last six months. It makes me feel that this trading system has the potential to work long term. If a trading system has worked for six long months and gave good profit despite my mistakes then this system will work in future too. At least that's the most probable outcome based on my results.
Big forex broker FXTM accepted me as a PAMM Manager/Strategy Manager after seeing my profit of 4 months. As a PAMM Manager in August, 2017 I made profit of 10% and DD of just 4.70% in my Real Account but since FXTM told me Strategy Manager is more popular I closed that PAMM Account and opened a new Strategy Manager Account in September 2017 where I made close to 7% profit but like in the Demo I also made the mistake of changing time frame and some rules in last week of September and had a DD of 18%.
I came back to my sense and started a brand new Strategy Account where in first 6 trading days of October I have made almost 10% profit and DD was tiny 1.67%.
In short, I have made my share of mistakes in the last six months of trading but also stuck to my trading rules and money management most of the time to average 9%+ profit monthly for last six months while keeping the highest DD inside 20%. That's a pretty decent result in my view.
The future from here looks good for me as I have controlled my mind to stick only to the system and also have made some improvements in the system which already has shown good result in October. Any constructive comment, suggestion by the members will be appreciated by me. I hope I have finally managed to find a way to make profit in forex.
Peace
http://www.myfxbook.com/members/prof...-forex/2088809
http://www.myfxbook.com/members/prof...shadow/2274609
In 2012 India's central bank Reserve Bank of India put restrictions on Indians sending $ outside India to trade forex. That was a big setback. I went out of the market for 3 years. But forex remained a huge interest for me. In May 2015 I traded one month Live with IC Markets and made 9% profit with Drawdown inside 10%. Then I took a break again from forex.
Middle of 2016 Forex Addiction came into me in a big way and I decided to do something about it. So, I started giving lots of time into forex this time only as a trader. I started reading charts, testing indicators, trading systems, price levels etc. After few months I understood one thing that I might not make constant profit in forex but I for sure will not blow my trading Account anymore as my understanding of the market was making me protecting the capital. That gave me confidence. I kept doing research and in April, 2017 I started a Demo Account without expecting profit but just to keep the Account safe and create a portfolio. But with time going by I started making profit. and I started noticing my trading system has potential.
In the last six months of trading I have had only one loss making month which was only like 4% and total net profit as of now 9 September, 2017 is 57%+ in closed profit. In the first five months of trading I had crossed DD over 10% only 2 times once it was 10.01%, and the other time it was 10.31% while average Draw down was only 4%. I have done my share of mistakes while trading like not following the system for sometime, changing time frame which resulted in one loss making month and my Draw down going to almost 18% in late September, 2017. I have recovered 70% of that draw down with fresh profit. What is making me feel very confident is that despite me making mistakes my trading system has managed to make me recover the losses I had because of my fault and still gave me healthy net profit for the last six months. It makes me feel that this trading system has the potential to work long term. If a trading system has worked for six long months and gave good profit despite my mistakes then this system will work in future too. At least that's the most probable outcome based on my results.
Big forex broker FXTM accepted me as a PAMM Manager/Strategy Manager after seeing my profit of 4 months. As a PAMM Manager in August, 2017 I made profit of 10% and DD of just 4.70% in my Real Account but since FXTM told me Strategy Manager is more popular I closed that PAMM Account and opened a new Strategy Manager Account in September 2017 where I made close to 7% profit but like in the Demo I also made the mistake of changing time frame and some rules in last week of September and had a DD of 18%.
I came back to my sense and started a brand new Strategy Account where in first 6 trading days of October I have made almost 10% profit and DD was tiny 1.67%.
In short, I have made my share of mistakes in the last six months of trading but also stuck to my trading rules and money management most of the time to average 9%+ profit monthly for last six months while keeping the highest DD inside 20%. That's a pretty decent result in my view.
The future from here looks good for me as I have controlled my mind to stick only to the system and also have made some improvements in the system which already has shown good result in October. Any constructive comment, suggestion by the members will be appreciated by me. I hope I have finally managed to find a way to make profit in forex.
Peace
http://www.myfxbook.com/members/prof...-forex/2088809
http://www.myfxbook.com/members/prof...shadow/2274609