55%+ Profit in Last Six Months: Have I nailed Forex? :)

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

your demo result is useless....it also shows how much the broker worth to base anything on that to attract investors.

your live results are...what, 6 days old?
since you also admit that the previous live account failed, and prompted you to restart with a new, would think maybe you just not nailed it yet?
especially if the account is not much equity, i would least suggest you to wait another 3-4 month before derive some more serious conclusions about your trading.

PS: what happened with the Indian regulations about restricting forex trading?

@profitfarmer I have asked for constructive comment not destructive comment. Calling 6 months worth of demo trading verified by myfxbook with over 60% profit and DD inside 20% useless is not constructive comment at all.

Anyone who has basic idea about forex trading will know that trading demo is the closest to trading live as demo trading is done in real market, with real currency pairs, with real market price in real time. So, anyone with useless trading system will not be able to make profit of 60% in six months. Use logic buddy.

Do one thing , open a demo account link it with myfxbook trade it profitably for three months then comment

My live accounts didn't fail, did you even read my post properly? My first Real Account I had opened in August , 2017 gave me 10% profit with DD inside just 5% in one month is not a failed account. I closed it because it was PAMM Account and my broker told me Stratergy Account has more potential to get bigger fund. My second Account I had opened in September, 2017 gave me 7% profit and DD was 18%. I closed it not cuz it failed but cuz I want to keep my DD inside 15% and the mistake I did in trading in this Account that is changing time frame costed me 7% extra loss. Even if we take 18% DD as final DD then also its still acceptable by most standard.


So, in Live Account trading in last two and half months in three Accounts I have made over 27% profit with DD of 18%. Most forex traders will take this result anyway that is averaging 9% monthly profit while DD being inside 20%.


If you can't say anything good then at least don't say anything demoralizing.


Any further irrational or mean remark from you I would not reply you.


PS: India Government restricting forex trading in India is a long story. So, please Google it.

Peace

man, that was constructive comment!!
disagreeing with it is your right, but take my words, it was all constructively written!!

the reason why i called your demo experience useless, because in the momemt you went live the results had changed.
and live account track record is just too short yet for assessment how much so. ( current account, as that is most relevant)

one of the thing i had learnt that usually the worst is not behind, but to come, and best to prepare to that with the numbers.
again, feel free to disagree with it, i am not any better qualified to tell what is good or bad than you are. may or may not ahead a little in the game, but that doesnt matter really.

the question about indian forex was not on the regulation per se, but you mentioned that stopped trading for a while due that, and i thought it is still in place. the question was: what has changed? ( why now you started trading/why have you stopped?)

but if you find things destructive, feel free to not answer. that was my honest, constructive opinion, and still uphold all that written.
happy trading!

Your choice of word was wrong calling something useless doesn't sound good, you could have said something like demo trading doesn't stand as good as live trading or something like that but calling it useless was harsh.


I stopped forex because Indian Government has said us $ can't be sent outside India to trade and I again started forex because I came across a broker that accepts deposits locally in Indian Rupees. Reason I started Demo Trading six months back was at that time I didn't know about this broker that accepts Indian Rupees deposits or else I would have live trading record of six months by now and some respect from you for me as a trader


And if you have noticed my headline for this thread is: Have I nailed forex? which means I did't say or feel I have conquered forex as that will be a too bold statement I was merely saying because of good results over a decent period of time I am feeling I am going in the right direction to be a profitable trader someday


I checked your thread and your account and I must say you are a good trader and I am happy that you are making good profit in live account. Profitable traders like you are an inspiration for wanna be profitable trader like me


Keep making those pips and keep inspiring us

Peace

thx for checking out my thread.
again, sorry for not giving your the words you hoped, maybe we understand constructive comments differently.
especially if you handle money for others, the drawdown is key measure, and while 18% acceptable, depend what you have in mind, a lot less might be desirable.
since your account is fresh, it may worth to do one more restart?

i had low drawdown, pretty low, and as you see it is about trying to lower it more. few small adjusting from April seem to work well.
the current numbers, attached, including the drawdown chart, since i think that is the most important aspect; you may find it inspiring. note that the daily gain isnt that high, or different from your demo result ( daily average gains)

yet it doesnt include a single day with +7% gains, like you had made today. will that be consistent with your 6 month demo result?
chech your drawdown chart on demo, is it improving during the period? or getting worse?

Apology accepted if that was an apology haha I am really impressed by your trading results keep it up buddy. About my trading well average draw down for me is reducing with each new month other that max DD of 18% I had in the last week of September which had major part of it me doing something silly than the system having a bad run. So, DD is not an issue for me right now


My goal from forex trading is simple: Average monthly profit of 8%, I don't need profit every month but would love to have them My main goal 25% profit every quarter and maximum DD inside 20%. I think I will be able to do that based on my trading of last six months


Let's hope we both make good profit and make a full time big income trading forex

your demo.
was the concern in comment.
decreasing trend? (attached)

as for goals. nice to have. but whatever comes comes. 6% a month = 100% a year, compounded.
is it a great goal? probably is.
my goal is to try to keep drawdown bellow 2%....at least 90% of the time.
i also have a goal to have no more than 1 losing day a month.
i dont use monthly return% goals.