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The Life & Times of suFreshFX (Based on a True Story)

  • #101
  • Edited Jan 1, 2018 2:05pm Dec 31, 2017 5:43pm | Edited Jan 1, 2018 2:05pm
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  • #102
  • Edited 12:06pm Jan 4, 2018 10:53am | Edited 12:06pm
Hey suFreshFX ,

was reading your thread and first of all wish consistency and more pips in your bucket =) Just one question what type of strategy do you use? and how long you have been in trading.

Also question, how do you take 10 to 40$ with 0.1 lot size? you didn't have margin call?
  • #103
  • Jan 6, 2018 12:00pm Jan 6, 2018 12:00pm
Quoting taksistalo
Hey suFreshFX , was reading your thread and first of all wish consistency and more pips in your bucket =) Just one question what type of strategy do you use? and how long you have been in trading. Also question, how do you take 10 to 40$ with 0.1 lot size? you didn't have margin call?
Hi taksistalo,

Welcome to the thread! Thank you for your kind words. Please see the answers to your questions in green.

Quoting taksistalo
Just one question what type of strategy do you use?

How do you trade? What system do you trade?

Quoting taksistalo
how long you have been in trading.

Please see my profile or the attached image (trading forex since)

Quoting taksistalo
Also question, how do you take 10 to 40$ with 0.1 lot size? you didn't have margin call?

As you can see from the attached image (10to40.H) I made an order at 1.1624 for 5,000 currency units. When the order was positive, it gave me more equity to purchase an additional 5,000 currency units at the price of 1.1630.

If you have an account leverage ratio of 1:1000 and open a position for 5,000 currency units of EUR/USD at the rate of 1.163 (price I traded with that account in NOV17), your margin requirements will be as follows:

5,000 x 1.163 / 1000 = 5.82

Hope that helps and feel free to ask any additional questions that have not been asked. Wish you nothing but the best for the new year my friend!
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  • #104
  • Edited 11:25pm Jan 7, 2018 3:07am | Edited 11:25pm
Quoting suFreshFX
years wondering if all this has been a waste…
and has it all been a waste ? your results are self explanatory but I'm currently going through this hell. And every day I question if I should quit it altogether. But I always end up "I've been in the game for 4 years don't want those years to go waste , I haven't lost that much, I still enjoy the challenge it becomes addictive. But I don't know if I'm going to keep pushing with no results to show for, for another year. Even then will I be able to discard it altogether, I don't know. The only certainty is that I regret getting into all of this without even realizing the consequences fully - like getting into a bad marriage with 2 kids and you realize you want out.
...
  • #105
  • Jan 7, 2018 3:28pm Jan 7, 2018 3:28pm
Quoting suFreshFX
{quote} Hi taksistalo, Welcome to the thread! Thank you for your kind words. Please see the answers to your questions in green. {quote} How do you trade? What system do you trade? {quote} Please see my profile or the attached image (trading forex since) {quote} As you can see from the attached image (10to40.H) I made an order at 1.1624 for 5,000 currency units. When the order was positive, it gave me more equity to purchase an additional 5,000 currency units at the...
Thanks for the answering and warm wishes, I hope as well get more consistent this year, however you know this grind better than I do and that it's not that easy. Markets are teaching a lot of things and the main one I think is self discipline. I guess if I have been in this game for almost 18 years I would be trading only price action as well. Is it possible to have you as mentor for some questions? I would really appreciate it and pay back in any way I can.

about your margine why I asked as I like to trade EUR/USD and USD/CAD for good margin, however my broker has 24$ per 0.01lot on EUR/USD so it would be impossible to even open a trade with 10$ on my account (if you had 5K that makes sense))))

P.S. I like your quotes in this post, many of these keep me moving to the big goals in my life, which is always super hard than just live the life.
  • #106
  • Edited Jan 9, 2018 1:10pm Jan 8, 2018 10:05pm | Edited Jan 9, 2018 1:10pm
Quoting Piquant
{quote} and has it all been a waste ? your results are self explanatory but I'm currently going through this hell. And every day I question if I should quit it altogether. But I always end up "I've been in the game for 4 years don't want those years to go waste , I haven't lost that much, I still enjoy the challenge it becomes addictive. But I don't know if I'm going to keep pushing with no results to show for, for another year. Even then will I be able to discard it altogether, I don't know. The only certainty is that I regret getting into...
Hi Piquant,

I love the honesty behind this post, thank you for sharing.

Quoting Piquant
your results are self explanatory

Thank you.

Quoting Piquant
I'm currently going through this hell. And every day I question if I should quit it altogether. But I always end up "I've been in the game for 4 years don't want those years to go waste , I haven't lost that much, I still enjoy the challenge it becomes addictive. But I don't know if I'm going to keep pushing with no results to show for, for another year. Even then will I be able to discard it altogether, I don't know.

I have been in this very same place you talk about more times than I can count and that’s exactly why I wrote “what you don’t see” to be able to express just some of the emotions I have gone thru.

What I would tell you is to take a break. I can't give you an exact number of days, but I will tell you it has not been uncommon for me to take a three to six month break. During this time I would uninstall any trading platforms and stay away from the markets all together.

Taking a break is extremely good for you. You should always have a gauge that is able to measure when you need to take a break from trading.

It will always be hard at first, but you will soon realize all the energy you pour into trading will go into something else. I recommend going out with your spouse, family members, and or friends and have fruitful conversations unrelated to trading.

Quoting Piquant
The only certainty is that I regret getting into all of this without even realizing the consequences fully - like getting into a bad marriage with 2 kids and you realize you want out.

Marriage to me is a covenant demonstrating unconditional love, reconciliation and much more as an everlasting commitment with God.

Trading to me would be more like running a race. There are many runners that are faster, stronger, and smarter. Right now you may feel exhausted and not sure if you should carry on. This is where you should take a break to refocus. If you decide to stop the race, you should have no shame but carry your head high. If you decide to come back remember you are not here to race anyone else, but only race for yourself.

I will leave you with a quote a dear friend has told me as we talked about trading one day that has always stuck with me:

The joy is in the journey

Hope this helps my friend!
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  • #107
  • Edited Jan 9, 2018 1:10pm Jan 8, 2018 10:05pm | Edited Jan 9, 2018 1:10pm
Quoting taksistalo
{quote} Thanks for the answering and warm wishes, I hope as well get more consistent this year, however you know this grind better than I do and that it's not that easy. Markets are teaching a lot of things and the main one I think is self discipline. I guess if I have been in this game for almost 18 years I would be trading only price action as well. Is it possible to have you as mentor for some questions? I would really appreciate it and pay back in any way I can. about your margine why I asked as I like to trade EUR/USD and USD/CAD for good margin,...
Quoting taksistalo
Thanks for the answering and warm wishes, I hope as well get more consistent this year

Thank you brother!

Quoting taksistalo
however you know this grind better than I do and that it's not that easy. Markets are teaching a lot of things and the main one I think is self discipline. I guess if I have been in this game for almost 18 years I would be trading only price action as well. Is it possible to have you as mentor for some questions? I would really appreciate it and pay back in any way I can.

Your are welcome to post here anytime. Just a simple thank you is the only way you can ever pay me back.

Quoting taksistalo
however my broker has 24$ per 0.01lot on EUR/USD so it would be impossible to even open a trade with 10$ on my account (if you had 5K that makes sense)))) P.S. I like your quotes in this post, many of these keep me moving to the big goals in my life, which is always super hard than just live the life.

Yes different brokers have different margin requirements. I did not have 5k in that account. I only had $10 USD in that account. I bought 5,000 currency units with that $10 USD. Hope that makes sense.

Motivation is great way to be inspired, but will not do anything by itself. You need to take action. Plan, make adjustments, and trade accordingly!
  • #108
  • Edited Jan 14, 2018 2:52pm Jan 13, 2018 4:34pm | Edited Jan 14, 2018 2:52pm
"Can you be my personal mentor or give me private lessons on trading?"

I often get asked this question many times in different forms.

It’s not that I do not want to help individuals, you just need to understand it extremely time consuming. I have family members, friends, and people that have heart-breaking stories asking for help.

Instead what I will try to do when I have time is to help everyone all together as a community on this thread. Thank you!
  • #109
  • Jan 13, 2018 10:41pm Jan 13, 2018 10:41pm
Nice thread, by the way
Would u share your strategy in detail? Like how did u know when u should open a buy/sell position...
  • #110
  • Jan 14, 2018 3:31pm Jan 14, 2018 3:31pm
Quoting rickokmz
Nice thread, by the way Would u share your strategy in detail? Like how did u know when u should open a buy/sell position...
Hi rickokmz,

Welcome to the thread! Thank you for your kind words. Please see the answers to your questions in green.
Quoting rickokmz
Nice thread, by the way

Thank you I appreciate your kind words.

Quoting rickokmz
Would u share your strategy in detail? Like how did u know when u should open a buy/sell position...

Yes I already do this by giving you a behind the scenes look as to why I was buying or selling a certain currency by displaying my “Trade of the Week” examples.

If you have further questions that have not been asked I will try to answer them if I can. Thank you!
  • #111
  • Jan 14, 2018 3:40pm Jan 14, 2018 3:40pm

Trade of the Week

January 7th, 2018 to January 12th, 2018


example.009(gbp.aud)
the yellow brick road shows the overall area of interest (vertical green arrows)

example.010(gbp.aud)
The red candle reveals a selling opportunity (horizontal red arrow)

Notes: Stop loss placed above the yellow brick road
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  • #112
  • Edited 4:35pm Jan 14, 2018 3:54pm | Edited 4:35pm
"Again I really appreciate you taking time to reply on my questions, the answers were obviously well thought through and most importantly genuine.

Your welcome brother, my pleasure.

I've decided to message you after thinking about so many options about risk and money management. Well for now I can't afford to take any time off, but only the weekends I've dedicated myself full time for this endeavor and its been 2 years almost. Since I had no family to feed for, and no loans to pay for with some cash saved up and not much in terms of expenses I figured why not ? if not now and when ?

I've learnt so much doing this full time everyday, and I do think I'm getting better each day. I had no idea what I was doing 2 years ago, (total time dedicated to fx is 4 years) but now I have a good feel, and go much better with the flow. Blew up 2 small accounts 400$ in total nothing major, but regardless of the money lost it doesn't feel great to blow up an account with DD at 99%.

After blowing up my second I stuck with demo and its been 6 months almost, I exclusively trade DAX and have been attempting to make something out of a 1000$ acc its not much at all, and I tried going the conservative way keeping my max DD at 10% and daily DD a 1% if I am too conservative I don't even know when I"m going to actually make some decent gains back on my initial 1000$ capital, but on the other hand if I go mad with risk management I also realize blowing up this 1000$ is going to be a matter of a month.

I do have more capital set aside to trade, but I just don't want to risk anything more than 1000$, they're too many variables that can go wrong in speculating and I'd rather have the rest of my capital sitting in a savings acc. I guess I'd like some kind of an advice on how to safely trade this 1000$ and not blow it up while progressively growing the acc ? in other words how do I do what you do ?

I've got my own method, well I just try to go with the flow pa trading on DAX I can take 2-4 entries depending on the market action that day, for DAX I can take 1 lot which is the smallest margin required is 70$ I try to get in on an optimal entry risking 6$ - 20$ per trade potential gain is 30$-120$ daily to give you some idea on the numbers.

I would really appreciate some wisdom on risk management!!

Cheers!"

"Can you give me some wisdom on risk management?"


Thank you for sharing your personal journey I have enjoyed reading this post. Okay before I get into the topic of risk let’s take a step back shall we.

Why are we putting money into an account? So that we can see it grow, correct. What is our plan? This is a major question that needs to be asked. Ask yourself honestly how many systems have you found that actually work? How many of those systems have an attached account that proves that it works?

This is a major fundamental flaw that needs to be addressed so that it can save you time and money.

I do not want to get too much into this right now, but I hope you understand what I am saying. You see once you learn how to trade then only should we even consider talking about how much to risk.

I have addressed this question partially here on:

Do you have any tips for trading? by saying "Once you learn how to trade, build a small profit before increasing your risk."

Okay now I will give you an example for a $1,000 account since you mentioned it and even show you a live example on the next post called Risk Management Example. (This is how I trade and your results, positions size, etc. should be designed to each individual.)

  1. Deposit $1,000
  2. Orders start at 50,0000 currency units
  3. Account doubles to $2,000, now only risk $1,000 of profit made
  4. Orders now can start at 100,000 or 150,000 currency units. If balance falls back to original deposit start at step 2
  5. When account doubles around $4,000 only risk $1,000 or $1,500 of profit made
  6. If $1,000 or $1,500 of profit made has been lost, decrease order size until the profits have been regained
  7. Repeat

Hope this helps and as always let me know if I can clarify anything else. Thank you!

  • #113
  • Jan 14, 2018 4:14pm Jan 14, 2018 4:14pm
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  • #114
  • Jan 14, 2018 4:15pm Jan 14, 2018 4:15pm
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  • #115
  • Jan 14, 2018 4:15pm Jan 14, 2018 4:15pm
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  • #116
  • Jan 14, 2018 4:15pm Jan 14, 2018 4:15pm
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  • #117
  • Jan 15, 2018 11:32am Jan 15, 2018 11:32am
not a bad way to start the trading week on day 1!
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  • #118
  • Jan 15, 2018 7:04pm Jan 15, 2018 7:04pm
Quoting suFreshFX
{quote} Hi rickokmz, Welcome to the thread! Thank you for your kind words. Please see the answers to your questions in green. {quote} Thank you I appreciate your kind words. {quote} Yes I already do this by giving you a behind the scenes look as to why I was buying or selling a certain currency by displaying my “Trade of the Week” examples. If you have further questions that have not been asked I will try to answer them if I can. Thank you!
thank you for answering my questions, basic on what I see, your strategy is just buy/sell on the support/resistance area with a big lot? U just put a limit order on that area or u need some confirmation candle like inside bar, pinbar or something else?

u r so inspirational for me, u have great accounts over there while I'm still struggle with my small account to build a confidence with my strategy...
  • #119
  • Edited Jan 16, 2018 1:01am Jan 15, 2018 8:52pm | Edited Jan 16, 2018 1:01am
Quoting rickokmz
{quote} thank you for answering my questions, basic on what I see, your strategy is just buy/sell on the support/resistance area with a big lot? U just put a limit order on that area or u need some confirmation candle like inside bar, pinbar or something else? u r so inspirational for me, u have great accounts over there while I'm still struggle with my small account to build a confidence with my strategy...
Quoting rickokmz
thank you for answering my questions

Your welcome brother, anytime!

Quoting rickokmz
basic on what I see, your strategy is just buy/sell on the support/resistance area with a big lot?

Yes the yellow brick road (support and resistance levels) is what I draw on each chart at the start of the week and also on daily basis depending on what time frame I am looking at.

Quoting rickokmz
U just put a limit order on that area or u need some confirmation candle like inside bar, pinbar or something else?

Yes I wait to see how price reacts around the yellow brick road (support and resistance levels) and if I see good price action around this area of interest I will make an order for a buy or sell.

You got it exactly! I am not here to re-invent the wheel. I am here to prove that the wheel works extremely well.

Quoting rickokmz
u r so inspirational for me, u have great accounts over there while I'm still struggle with my small account to build a confidence with my strategy...

Thank you brother, these words mean a lot to me and is the reason why I continue to post.

Do not compare yourself with others, only with yourself. We are each running our own race.

Best to struggle in small accounts until you gain confidence then to get lucky in small accounts and struggle in bigger accounts.
  • #120
  • Jan 15, 2018 8:58pm Jan 15, 2018 8:58pm
Thanks dude, It's really makes me comfortable to know that the "old wheels" are still on business, I'll maintain to use this classic strategy till I mastered it in my emotion.

I'll keep watching to this thread.

GOD Bless
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