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Success stories

  • #81
  • Oct 25, 2007 8:22pm Oct 25, 2007 8:22pm
Quoting xxDavidxSxx
Heres a days success story...

yesterday...gbp$ -120pips, euro$ -80pips...total 200 pips lost on the crash.

Today on the bounce....gbp +200pips, euro$ +100pips, nzd$ +100pips....total 400pips and holding with s/l's moved up for +50 locked in across the 3 total.

Long term success story....The old schoolers here know me from when I first started. James16 and I were the original 2 that started FFJ. I became a full time day trader and am still full time. But now my positions are more than just day trades. Day trading was way too stressful. And taking signals off of the daily charts has proven for me to be very accurate low risk trades. (accept for yesterday)

My thread was the most read until a guy came along with poor win% but took majority of readers because the title of his thread was attractive, and it was set up like a free signal service. But only 35% wins.
I maintained most of the time 75% or better. And still do. After some time FFJ became over crowded so I discontinued my thread. No need for it now. As you grow in your trading you lose the need to "prove your self" to others and your self. Thats what I feel like the trade journals are really there for. I prefer to pop in every now and then, and give some good advise and market direction.

The guys that know my trade history know that when I post a direction, it usually happens. Especially when the market is confusing every one else.

Happy trades to all, and to all much wealth


Dave
Hi Dave,

Would you be so kind as to share your system...


Thanks,

Walt
  • #82
  • Oct 27, 2007 4:07pm Oct 27, 2007 4:07pm
Quoting TrevA
If you're new to Forex then don't loose heart by the seemingly difficult path ahead. Be patient with yourself, learn everything about trading and most importantly, learn everything about yourself.

I trade Forex every day and average between 150-200 pips clear. This has become normal trading for me. My levels of intuition are heightened and I can anticipate changes in trend by subtle changes in upward or downward momentum.

What is my system? Moving averages, daily pivots, support/resistance and intuition. I don't believe in MACD or any other indicator. I trade in the 15 minute window but keep track of broader trends by watching the 1H, 4H and 1D charts. I don't use stops nor do I leave trades unattended so stand ready to exit any positions that move against me.

I prefer to trade the EUR/JPY and AUD/JPY because the suit my capitalisation and move about 150 pips up or down each day.

If you're wondering why I'm not a 1KT member? I can't be bothered with the label but am happy to help anybody who would like to improve their trading hence my participation in this forum.

I have been following this forum for a long time but have recently registered for the fist time because a new trader raised a compelling question.

I'll soon be posting my trades as they occur, live onto a website for those interested in mirroring my trades. Let me know if you're interested in following my trades.

Good luck and wisdom

TrevA
Hi TrevA,

I am happy for you making 150 pips every day. Good Luck.
Please tell us the time you trade EUR/JPY and AUD/JPY.
You say you trade 15 minutes charts.
Please tell us what Moving Average do you use,
What Pivot points, what support and resistance and what intiution you use.
Can you please tell us more. Thanks.

Aziz
Suspicious Minds and Negative Minds Never Progress!
  • #83
  • Oct 27, 2007 4:41pm Oct 27, 2007 4:41pm
Quoting xxDavidxSxx

No need for it now. As you grow in your trading you lose the need to "prove your self" to others and your self.
Dave

Great point David.

BTW, I remember you from a very long time ago even though I never read your thread or the other person's for that matter...I remember enjoying your posts however.
  • #84
  • Oct 29, 2007 6:33am Oct 29, 2007 6:33am
It's so nice to read all those success stories. Keep em coming, guys!
Really gets my motivation back after a few bad trades
  • #85
  • Oct 29, 2007 9:11pm Oct 29, 2007 9:11pm
Quoting Quickdraw
M4X, if you have a system that averages 600-800 pips a month and you consistently trade with a 75% accuracy, then why in the world are you only trading .30 cents per pip?? I can understand not getting too risky by trying to trade $10 per pip, but with the amount of pips you are making and also with your high accuracy %, I would be at least trading $1 per pip.
I was only using the .30 per pip as a example of how to trade a acct with 1000 in it. Most traders take 1k acct and think they need to trade $5 per pip. most traders get greedy....just because you can get 400:1 leverage doesn't mean you should use it
I started my acct with 1k and i traded 1.00 per pip and did just fine
I now trade a 10k acct yet only use 3.00-5.00 per pip at most(usually only $3.00) but as i said you get 600 pips a month times that by $3.00 you get $1,800 a month return or 18%. yes I can up the leverage easy and make a larger return but this way i not emotional about my trading as I said i dont trade for a pay check so right now it's just a hobby.

I actually trade 2 systems and the second system only takes about 10 minutes per day! (It's on a daily and weekly chart) I trade 7 pairs long term adding smaller lots on a daily basis if signal is given to do so. This system is based off % as well..Since my trades are long term i trade fractional lot sizes .20 - .60 per pip So far in October I'm up 16% My goal is to trade this system and not have to trade the other system (swing style) Forex is not hard and thats why most traders loose.....they make it hard!

Find something that is simple and stick with it!

Thanks....
M4X............ Hedging My Way To Profits!
  • #86
  • Oct 30, 2007 7:20pm Oct 30, 2007 7:20pm
Quoting FXOne
Hey, Mike those who persevere are the ones that get to see success in this business.
I wanted to share with you a letter that I wrote to myself in 2005 (Below). I wrote it after making a big mistake on my demo account. A couple of months later after more than 8 months of demo and a lot of backtest and analysis, I went live. I had been making 5% average per month for more than two years now. The key is to find a system. To find your system, demo different strategies test for no less than 6 months . Also backtest for a couple of years all the strategies. That’ll give you some data to be able to analyze which strategies are worth trading live. A good place to start is to look for breakout strategies on volatile pairs (ex.GBPUSD) and don’t use fix T/P (just my opinion) . There are a couple in this forum and on other forums that really work. Something else to consider is to remember that ALL strategy will have losing periods that could last up to a couple of months. Don’t give up on the strategy that you are testing because a losing period is very valuable data will be usefull when performing your analysis of the stategies. I know this sound like a lot of work but again those who persevere are the ones that get to see success in this business.

To Myself,

Forex is easy, just be PATIENT. Wait for the support and trend line confirmation. Wait for the fibs. Wait for the pivots and THEN WAIT for the price action or candlestick formation. DO NOT trade if you don’t have at least 3 confirmations. DO NOT trade if you don’t have price action or a formation. DO NOT trade less than 30 min bars. The smallest the time frame the more confirmations you’ll need. Wait, wait and then wait again. If you have doubts about a trade then don’t take it. There are going to be more opportunities. You only need two or three good trades a month, so don’t take trades every day. If you didn’t find a good trade in a entire month….then you didn’t loss anything… be happy about that, because that shows outstanding self control, which is the key to success in this business. Keep studying and reading, but most importantly…practice in a demo account. Don’t go live yet! Why do you want to go live anyway? If you cannot do well in a demo you’ll never do well in real life. Do not go live until you have a system. This is not about guessing is about a system. You know what to do, just do it. If you cannot control your emotions, then you shouldn’t be trading. Control your mind and body and you’ll succeed. You are almost there, only you can mess it up. I trust you and I know you can do it. You have always reached your goals, this is just one more. You did well for the last couple of months. You proved is possible. Now is up to you. If you fail is because you wanted to fail, because you know what to do….after all you are writing it up here…Don’t you?, THEN WHY THE HELL DON’T YOU JUST DO IT!!

Very Respectfully,

Yourself


Sorry for the long message,
v/r, FXOne
Thank you the FXOne.

I am learning a lot here. I just discovered this website only two days ago, and I learn a lot already.

Again, so many good souls here. I am glad I found this website.

Thank you all. I think I have to thank the owner of this forum too.

Best Regards,

Forex Star.
  • #87
  • Oct 30, 2007 7:37pm Oct 30, 2007 7:37pm
Quoting TrevA
If you're new to Forex then don't loose heart by the seemingly difficult path ahead. Be patient with yourself, learn everything about trading and most importantly, learn everything about yourself.

I trade Forex every day and average between 150-200 pips clear. This has become normal trading for me. My levels of intuition are heightened and I can anticipate changes in trend by subtle changes in upward or downward momentum.

What is my system? Moving averages, daily pivots, support/resistance and intuition. I don't believe in MACD or any other indicator. I trade in the 15 minute window but keep track of broader trends by watching the 1H, 4H and 1D charts. I don't use stops nor do I leave trades unattended so stand ready to exit any positions that move against me.

I prefer to trade the EUR/JPY and AUD/JPY because the suit my capitalisation and move about 150 pips up or down each day.

If you're wondering why I'm not a 1KT member? I can't be bothered with the label but am happy to help anybody who would like to improve their trading hence my participation in this forum.

I have been following this forum for a long time but have recently registered for the fist time because a new trader raised a compelling question.

I'll soon be posting my trades as they occur, live onto a website for those interested in mirroring my trades. Let me know if you're interested in following my trades.

Good luck and wisdom

TrevA
Hi TrevA.

May I ask how long has you in Forex Arena?

Would you share your system and your charts with us?

I am much graceful!

Thank you.

Forex Star. (Soon To Be...like you. )
  • #88
  • Oct 30, 2007 7:39pm Oct 30, 2007 7:39pm
Quoting Azizi
Hi TrevA,

I am happy for you making 150 pips every day. Good Luck.
Please tell us the time you trade EUR/JPY and AUD/JPY.
You say you trade 15 minutes charts.
Please tell us what Moving Average do you use,
What Pivot points, what support and resistance and what intiution you use.
Can you please tell us more. Thanks.

Aziz
I glad you ask him those questions. I want to ask, but a little hesitate.

Thank you,

Forex Star. (Soon To Be! ha..ha..ha..)
  • #89
  • Dec 5, 2007 6:40am Dec 5, 2007 6:40am
Hi guys..

A while back I posted a closed position report of some of my trades here and that account was standing at $130,000 bt Im still going strong up to $270,000 now... Thankyou all for the advice an plz keep posting..

R Strydom
  • #90
  • Dec 9, 2007 4:52pm Dec 9, 2007 4:52pm
Quoting klasvakie
Hi guys..

A while back I posted a closed position report of some of my trades here and that account was standing at $130,000 bt Im still going strong up to $270,000 now... Thankyou all for the advice an plz keep posting..

R Strydom
Hi klasvakie,

I think it would be more accurate to let everyone know that the "$270,000" you now are "up to" is on a demo account and not real money. Big difference.
"Trading is a mental sport." - Ziad Masri
  • #91
  • Dec 10, 2007 9:58am Dec 10, 2007 9:58am
You sure are quick to draw...

Yes you are in fact very right. The "$270,000" I was referring to is indeed in a demo account. I was however very clear on this point in all of my previous posts. Still, I appreciate the critique.

Thank you Quickdraw
  • #92
  • Dec 10, 2007 10:22am Dec 10, 2007 10:22am
Just an add.I started to improve the number of pips when i started trading the news.
  • #93
  • May 28, 2008 10:27pm May 28, 2008 10:27pm
Quoting johnblake
Hi Aziz,

Good to know that you have been successful in Forex Trading so quickly.
Normally it takes many years and persistence to be successful in this line.
I have been trading for more than 3 years now and did lose a lot in my first two years of trading.
Thanks to Dr. Zain Agha and his Systems ZTL and ZRC, (I have these Systems too) started putting me back on my feet when I was literally broke.
What is more important to me is his continued support and help that he provided me to get back and recover my losses fast.

I wish you and other Readers Great Everlasting Success,

John
Dear Aziz and John,

I'd like to ask you if you can share the ZRC and/or Z-100 system, I would like to try it but notice to many mixed reviews and don't want to waste $1,000 if the system doesn't work because they don't offer money back. If the system works I'll buy it just to have mentoring services. Perhaps you would like to exchange systems, I have Monika Korzec MMTS wich includes three systems, I'm still on demo and get an average of 30 pips every four days out of five.

If anyone is interested, please let me know

Cheers to all
  • #94
  • Jun 2, 2008 1:01am Jun 2, 2008 1:01am
1 out of every 10,000 households is a trader. 90% of traders lose! Those are some tough odds we're up against. Why are you special??? Why do you want to trade??? Is it for money??? Is it for something greater???

I have been trading for 4 years. I have managed funds and have done well. I started demo trading while I worked a full time bullsh** car sales job for a luxury dealer in the richest neighborhood in SoCal. I demo traded for 2 years and then went live. My first 6 months I lost everything and was stressed out and was an anxiety time bomb. Didn't give up. Lost some more! Didn't give up. I did a lot of personal reflection, learned how to meditate, and focused on my spirit.

I understand what this market brings and takes away. The reason why we are marveled at its profits is because we feel the taste of freedom, and its addictive. You must overcome the fear factor and greed factor to become truly successful. "This market has the ability to cut our long term savings goal in half, so we can enjoy life at a young age."

Understanding support and resistance, practicing smart money management, reduce risk & stress by minimizing exposure, and most of all, to be patient.

After that I started becoming seriously focused. I took a 4 figure account to 5 figures. Thats when I showed my sales clients and employers my returns. I also took them to brokers and CTA's. I am raising some good money and being very smart about how to operate in a professional manner.

"The proof is in the puddin" - Create 6 months track record and try to show more than 5% a month and you'll be in the top 10%

GOOD LUCK TO EVERYONE!!!

p.s. I try to do 1% a night. I keep 30% of the profits every month. Each month my potential commission is recalculated to a new high water mark, ensuring I always have profitable months. This is how you run a smart business as a CTA.
  • #95
  • Jun 2, 2008 2:09am Jun 2, 2008 2:09am
Quoting sleep1Iopen
1 out of every 10,000 households is a trader. 90% of traders lose! Those are some tough odds we're up against. Why are you special??? Why do you want to trade??? Is it for money??? Is it for something greater???

I have been trading for 4 years. I have managed funds and have done well. I started demo trading while I worked a full time bullsh** car sales job for a luxury dealer in the richest neighborhood in SoCal. I demo traded for 2 years and then went live. My first 6 months I lost everything and was stressed out and was an anxiety time bomb. Didn't give up. Lost some more! Didn't give up. I did a lot of personal reflection, learned how to meditate, and focused on my spirit.

I understand what this market brings and takes away. The reason why we are marveled at its profits is because we feel the taste of freedom, and its addictive. You must overcome the fear factor and greed factor to become truly successful. "This market has the ability to cut our long term savings goal in half, so we can enjoy life at a young age."

Understanding support and resistance, practicing smart money management, reduce risk & stress by minimizing exposure, and most of all, to be patient.

After that I started becoming seriously focused. I took a 4 figure account to 5 figures. Thats when I showed my sales clients and employers my returns. I also took them to brokers and CTA's. I am raising some good money and being very smart about how to operate in a professional manner.

"The proof is in the puddin" - Create 6 months track record and try to show more than 5% a month and you'll be in the top 10%

GOOD LUCK TO EVERYONE!!!

p.s. I try to do 1% a night. I keep 30% of the profits every month. Each month my potential commission is recalculated to a new high water mark, ensuring I always have profitable months. This is how you run a smart business as a CTA.

Don't forget to have fun
  • #96
  • Jun 19, 2008 4:09pm Jun 19, 2008 4:09pm
Quoting sleep1Iopen

Understanding support and resistance, practicing smart money management, reduce risk & stress by minimizing exposure, and most of all, to be patient.
This is about the simplest and most succinct description of the necessities of successful trading I've seen. "Minimizing exposure" is oft overlooked, but trading small enough so that you can sleep at night does wonders for your equity. Mostly, these threads are for amusement only, with the poor fishes begging for advice on what indicator setting will get them closer to success....totally and fatally missing the point.
There's always money in the banana stand.
  • #97
  • Aug 31, 2008 6:48am Aug 31, 2008 6:48am
Well, i see that most of you have been demoing and making good amounts of profits. Have anyone had success in real money?

I`ve had a substantial amount of profits at times, trading real money!. It all started 2 years ago, when i never knew what forex was all about. I had a Meta trader platform and went on live just without reading any further.. I made considerable profits!... a $25 on a standard account fetched me $3.8. Wow!... that`s a real big thing for a day`s trade!. Then as you might expect, the next trade gave me a Margin call... Ouch!... i was broken down!. I went into investigating about forex from then... many brokers offered micro accounts, which triggered me into playing small... you wouldn`t believe... how many times, i converted my $2 to $20 in 2-3 days and how many times i`ve made a $10 into $100 in just a few days!. But, as it seems to be, i`ve had 1 single loss that wipes out the entire amount. 3 months ago, i started thinking of other brokers, that let me deposit with a visa debit card... I found one!... AvaFX offered such deposits then. So, i thought i would try my luck with them... I deposited $100 as that was a minimum deposit there. You wouldn`t believe what fortune awaited me... i flipped the $100 bill to 17x times in just 5 days! yes. $1700 from $100, in just 5 days. I simply felt the curves and bends of the market to enhance my top&bottom picking capability. then, i knew having so much of sudden wealth is going to sink me... i had a feeling that i must withdraw the money, but i couldn`t... i traded, out of greed, putting more and more risk and almost... 240k amount that was around $1200 margin that night. and guess what... i had to close all positions at a net loss, though i had a chance to withdraw my money, i didn`t ... so, it became $1700 to $600 and odd. I still managed some ups and downs on that day... but the hunger and need to make back my losses on the same trading day, killed me!... i traded 80k amount with the hope that USDCAD would take a dip due to the positive CAD PMI. But, even though the release was a hig impact one and the number was positive, i ended up with a margin call. Out of so much hope and will, i kept depositing $100 on and on, over and over... again and again... and now, all i have is a big -$2000+ loss. I still feel the urge to make my losses back as it isn`t easy money. At several points of my investment, i had suicidal feelings. But now, i`m slowly recovering. I almost feel like quitting Forex and i know that i will be a bigger loser if i do that. Finally, now... i have decided to forget the past and make money the hard way. I`ll however make a comeback as i`m doing an intensive research into neural networks and applying it to forex trading by implementing a strategy.

But before that, i would like to enlighten some newbies about some things, so that they could atleast learn from my mistakes and have a better life:

1. Never be greedy!. (Don`t over trade)
2. Calculate your risk/reward ratio for each trade.
3. Try and tune yourself to the frequency at which the market operates.
4. If you are very confident about a position, after some TA, risk a little more than your least amount.
5. If you see any obvious reasons that a trade is going to kick off in your direction after some news release, risk a little more than your least amount.
6. In either cases, don`t forget to put a stop loss or atleast sense where to exit a trade and do it sincerely.
7. Invest big, but trade very little. Alright... Tell yourself... "Today i`m going to make +/- $100" In either case you must stop trading for the day and might go out for a walk. Do this for a month and you could see how consistent you are for over a month. If you make $100 a day for 15 days and -$100 for 7 days, that`s $800 profit for you on that month!. Isn`t that consistent enough for an average trader?. So, be ambitious and focussed. and learn from the mistakes i`ve done and don`t be a loser like me!.

good luck trading!.
  • #98
  • Nov 30, 2008 3:53pm Nov 30, 2008 3:53pm
Quoting binary
It is important to trade small enough, in the beginning, that you do not care whether any trade wins or hits it's stop-loss.

It is important to use stop-losses.

It is okay to care whether you do well in any week, or any month, although most profitable systems involve losing months (although I wouldn't use once that could have a losing year!). But you must not care whether any trade, or any five trades, do well.

If need be find a platform which allows you to read mini-lots, or less.

Plenty of traders end up with two or three platforms...
I have done both: I traded my demo account and also live account but I find that it's best that you trade live accounts to learn lessons that are costly and this way you never ever make that mistake again.

In my case, a demo account is good to make yourself familiar with the platform, other than that yes you don't have the trading pressure in a demo like in a live account.

Yes I agree on trading a live account but with very small losts and max loss in one trade should not be more than 5% of your account. This way you can stay in the game for a very long time and learn along the way.

If you are correct on the direction and make $200 is much better than taking a loss of $2000 in a huge trade. My problem I traded with large lots and my losses 1-5000 when all I had in my account was 10,000. The best thing to do is trade small lots and limit your losses this way you stay in the game and you keep on parctcing.

I spent 5000 U.S on one trade and learned an expensive lesson and that is to never trade in the middle of the channel. I could have learned this with a $200 trade.

No matter how sure are you about a trade you should never have the attitude of loading up the truck. I now buy max one contract (100,000) and if I am dead right on the direction, it's great and I stay longer and ride it.

I think that the most difficult part in trading is to overcome greed. Also our human nature to gamble everything if we think that it's a high probability that this trade is a winner.

What should excite a trader is hard work, a well planed set up, excellent execution. The fact that you are correct on the direction is everything...what you make on a trade even if it's $50 in my opinion is a great acchievement. Even when you lose, so long as you learn from it and take the time to write down the mistakes you made is a good thing especially to you exit the trade on day one and not let your hopes kill you.

Sam
  • #99
  • Nov 30, 2008 6:06pm Nov 30, 2008 6:06pm
The difference between winners and losers is just one thing. Discipline.

Most traders don't have any. This is (imo) the number 1 reason they fail.

Discipline comes from emotional maturity. Youth, ego and emotional immaturity (excitableness) are barriers to being successful.

Discipline has the following characteristics -

 

  1. the capacity to exercise self-restraint and use patience
  2. to accurately filter your internal dialogue (remove the "I'm right" ego factor, look at facts and evidence impartially on both sides of the equation, use stops religiously and don't argue when market tells you that you read it wrong)
  3. to research independently and thoroughly
  4. to understand the importance of price action on the razor's edge (market itself tells you clearly in the candlesticks)
  5. the importance of support and resistance and price action around whole numbers
  6. to know the psychology of the market (trends and what drives them)
  7. to make the effort to learn everything there is to know about the instrument you trade
  8. to quit pinning your hopes on some magical indicator or system
  9. to quit expecting others to spoon feed you
  10. to put in the hard yards to acquire the rare capacity to read the market accurately (it's rare because bias gets in the way)
  11. to have patience to stay out and wait for price to develop until your entry triggers are neatly lined up and confirmation is in place - over-trading (excessive frequency and high levels of risk exposure) is what kills many accounts.

This is what makes the difference.

Without it, you may as well put your bucks in an ashtray and set it alight. Or go do something else for 20 years until you have found the emotional maturity to manage yourself (self-discipline + character) successfully.

  • #100
  • Dec 3, 2008 10:31am Dec 3, 2008 10:31am
I have had a live account for over a year now and never went into the red. Due to events in my life, I have not had the time to trade like I used to. Good Luck.
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