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myfxjournals Mar 8, 2011 2:37pm | Post# 1

Journey To Full Time Trading
 
This is a simple journal to chronicle my journey as a forex trader.

My goal is to clearly support my family with our sole source of income from the forex markets.

A little history about myself. I have been trading forex since 2003. I started like so many others with an introduction to 4X Made Easy. Total crapware, but at the time, I did not know this until after losing a ton of my own dollars.

From that point forward, I started studying various styles of trading and later decided to create my own techniques based on what worked for me.

I have had my ups and downs through the years. During the summer of 2010, I decided to finally quit trading. I had enough of searching for an endless array of methods of trading that did not work for me.

After a 6 month layoff. I returned to the trading arena. I believe something had happened to me while I was away. I learned not to be so anxious and I learned quite a bit about being patient.

When I came back to trading in November, my trading actually improved and I realized that the simpler the method the easier it was to reach my target goals.

After demo trading for 2 months successfully, I decide to go live in January.

I started with a small $100 balance trading the larger time frames. Many of my trading friends said it could not be done as I was clearly underfunded. I decided to give it a try because I felt that I had improved on certain aspects of my trading. The main one was patience. It was the key that was missing from almost every system I had tried.

So far I have been at it for 3 months now....my account has been up and down and originally took my $100 account to $158 (58%) halfway through month 2. I also decided to add $200 to my account every month or two to keep on building to it.

My goal is to convert a menial sum of $100 into at least $100K to start full time trading. I believe if I can go that far, then I am able to realistically earn enough from profits to pay my bills and continue to grow my account for the long term.

My goal is to earn 5 - 10% a week or 1-2% daily. Its a far stretch, but hey....I'll give it a go. Repetition and patience I believe are the key factors.

So thus begins my journey (Actually, off the record, I'm 8 weeks into the journey as depicted off my blog)....

Oh yes, I simply trade breakouts, trendline, S&R...simple stuff....I find in my journey through the fx world...it works the easiest. Outside of that, I don't have a style...I can scalp, swing, position trade, trend trade or take reversals. Whatever makes me a buck..I'll do it. I've learned enough trading techniques over the years to be flexible in what I do.

Thank You for joining me and I hope that if anything, I hope this journal inspires you to not give up and to follow your goals.

myfxjournals Mar 8, 2011 2:50pm | Post# 2

1 Attachment(s)
So ok, to back track...I actually started my trading journal about 8 weeks ago (this being the 8th week)....

Currently, I am in a bit of a drawdown. I started off with $100. Overleveraged and somehow tripped over both feet and landed on some cash to bring my account to 58% gains. Then I added $200 because by then I was into the 2nd month. I've been steadily increasing the account but it is back and forth.....now I am only in profit $43 out of $300 so what's that? 14%? Something like that.

Here are my stats so far...
Click to Enlarge

Name: FF Week 8.png
Size: 14 KB

maximus2005 Mar 8, 2011 2:54pm | Post# 3

I will follow you myfxjournals, good luck!!!! Max

myfxjournals Mar 8, 2011 3:06pm | Post# 4

3 Attachment(s)
Here are my open trades....

As you can see, I am in a bit of a drawdown.....just holding tight....
Click to Enlarge

Name: Week8 AUDUSD.png
Size: 12 KB
Click to Enlarge

Name: Week8 EURUSD.png
Size: 13 KB
Click to Enlarge

Name: Week8 USDCHF.png
Size: 12 KB

myfxjournals Mar 8, 2011 3:07pm | Post# 5

Thanks MAX....I need it!

I will follow you myfxjournals, good luck!!!! Max

myfxjournals Mar 8, 2011 3:09pm | Post# 6

At this point, I'm simply looking to get out of my open trades and start new from scratch a mundo!

Here are my open trades....

As you can see, I am in a bit of a drawdown.....just holding tight....

myfxjournals Mar 8, 2011 7:31pm | Post# 7

1 Attachment(s)
I went ahead and closed my AUD Long....now short....

Left EURUSD and USDCHF in play...
Click to Enlarge

Name: Week8 AUDUSDshort.png
Size: 13 KB

myfxjournals Mar 9, 2011 11:05pm | Post# 8

2 Attachment(s)
Took two new trades today....doing ok with them....
Click to Enlarge

Name: Week8 EURUSDshortCont.png
Size: 12 KB
Click to Enlarge

Name: Week8AUDSHORTCont.png
Size: 13 KB

myfxjournals Mar 9, 2011 11:28pm | Post# 9

Took two new trades today....doing ok with them....

Just closed out AUDUSD for 20 pips on the first unit and 46 pips for the next 2 units.

myfxjournals Mar 11, 2011 4:38am | Post# 10

1 Attachment(s)
Here is my updated stats:
Click to Enlarge

Name: ffweek8update.gif
Size: 13 KB

myfxjournals Mar 12, 2011 10:15pm | Post# 11

EURUSD Positions Week 8
 
1 Attachment(s)
I am currently at week 8 with 96 weeks to go. My goal is to accumulate as much as I can within a 2 year span....

Here is my final stats for my 8th week of trading.
Click to Enlarge

Name: Week8.gif
Size: 18 KB

myfxjournals Mar 12, 2011 10:16pm | Post# 12

EURO Positions
 
1 Attachment(s)
These are my remaining EURO trades for End of Week 8
Click to Enlarge

Name: EURUSDWEEK8EOW.png
Size: 18 KB

myfxjournals Mar 12, 2011 10:19pm | Post# 13

USDCHF End of Week 8
 
1 Attachment(s)
These are my remaining USDCHF trades for End of Week 8
Click to Enlarge

Name: USDCHFWEEK8EOW.png
Size: 15 KB

myfxjournals Mar 12, 2011 10:47pm | Post# 14

AUDUSD
 
2 Attachment(s)
I saw that price was breaking out of EURUSD and USDCHF...however the moves were not strong. I scanned the other pairs and saw that AUDUSD was making a nice move, so I waited for the breakout and took the trades below:
Click to Enlarge

Name: AUDUSD Long Entry and Exits.png
Size: 29 KB
Click to Enlarge

Name: AUDUSD Long Entries.png
Size: 4 KB

myfxjournals Mar 14, 2011 1:25am | Post# 15

Long GBPJPY
 
1 Attachment(s)
I am long the following trade....

Already took +27 pips profit from GY prior to this one then got stopped out...re-rentered once more...
Click to Enlarge

Name: GBPJPY Long Week 9.png
Size: 11 KB

myfxjournals Mar 14, 2011 7:34am | Post# 16

1 Attachment(s)
Waited all night. Exited GBPJPY several times ranging from +7 to +10 pips...for a total of 38 pips today.

Kinda stinks since I waited all night....

And of course, as soon as I exit, it makes a nice 10 pip run....

Anyway, got into AUDUSD....

@ 1.00626
Click to Enlarge

Name: AUDSHORT3-14-2011 6-24-38 AM.png
Size: 15 KB

myfxjournals Mar 14, 2011 11:33pm | Post# 17

2 Attachment(s)
Did alright on this trade..

http://www.forexfactory.com/showpost...5&postcount=16

It finally dropped and I hit my target...
Click to Enlarge

Name: audusdshort2 3-14-2011 9-19-39 PM.png
Size: 16 KB
Click to Enlarge

Name: AUDExit3-14-2011 10-29-21 PM.png
Size: 21 KB

myfxjournals Mar 14, 2011 11:40pm | Post# 18

1 Attachment(s)
Trying to close out my EURUSD bottoms...

Added to the shorts....
Click to Enlarge

Name: EURUSDSHORT Entry 3-14-2011 10-34-50 PM.png
Size: 36 KB

myfxjournals Apr 22, 2011 6:02am | Post# 19

EURUSD SHORT
 
1 Attachment(s)
1.45372
1.45812
1.46271
Click to Enlarge

Name: 4-22-2011 4-59-42 AM.png
Size: 13 KB

myfxjournals Apr 22, 2011 2:50pm | Post# 20

EURUSD Shorts Closed
 
1.45372 Closed At 1.45497 = -12.5 pips
1.45812 Closed At 1.45497 = +31.5 Pips
1.46271 Closed At 1.45497 = +77.4 Pips

Total = +96.4 Pips

All Positions Flat.


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