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$99 to $100,000 is it possible?

  • #121
  • Dec 10, 2019 2:55am Dec 10, 2019 2:55am
Quoting vowan4ik
{quote} Your broker allows you to trade with such leverage. I have the same broker. Change your leverage in the setting account
Thanks! But still couldn't find this in settings.

Here is another problem, let's imagine:

We have: 200$ account
Risk: 100$
Stop-Loss: 10 pips
Currency: GBP/USD
So, our Lot-size will be: 1.0 (10$/pips)

Gbp/usd has high volatility and probability of slippage with such tight stop-loss, if it will be only 3 pips, I will get a loss of -130$, and I will stay with 0nly 70$ on my account, it doesen't make any sense for me.
  • #122
  • Edited 3:27am Dec 10, 2019 3:03am | Edited 3:27am
For now I have one more trade running on GBP/USD

If you can notice, It wasn't open according to my money management rules, I just found good entry point and entered with a full lot size, on this week I don't want to risk a lot on GBP/USD, because we have important news, that can make strong movement and make potential loss even bigger.

Will close this trade manually, but potential target is 100 pips

UPD: after strong move into my direction, I placed my stop at +0,8 pip, for now waiting.
Attached Image (click to enlarge)
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  • #123
  • Dec 10, 2019 6:04pm Dec 10, 2019 6:04pm
YES!

This tarde was also closed with a profit of +538$, somehow managed to replace my stop-loss before a big drop.
Also I got spread compensation of +20$. And for now I have on my account 2.121$, I will transfer 121$ to my safe account.

Results for now:

Trading account: 2.000$
Safe account: 321$

This trade you can see in the video below, and please subscribe to my channel

Inserted Video
  • #124
  • Dec 10, 2019 11:32pm Dec 10, 2019 11:32pm
well done bro！
i will follow your trades.


Road to 1M
  • #125
  • Dec 11, 2019 4:55am Dec 11, 2019 4:55am
Opened one more Buy postion on GBP/USD.
Again, it was opened without using agressive rules of my money management because of elections. My stop-loss is only 12 pips or 120$, my potential profit target is aroun 90 pips, it looks for me like a good risk reward ratio. In the video that you can find in my previous post I've got 1:3,5 risk reward ratio.

If this trade will be profitable, I will take half of profit to the safe account.
Attached Image (click to enlarge)
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  • #126
  • Dec 11, 2019 4:59pm Dec 11, 2019 4:59pm
One more trade that was closed with a profit.
In someway, it was closed too early, but it's still profit.
As I've already said in previous post, I will take half of this profit to my safe account, should make a habit to do it regulary.

So for now I have 2.215$ on trading account, after transfering to safe account I will have:

Trading account: 2.100$
Safe account: 436$

To be honest, the further I go the more emotional this challenge becomes.

Inserted Video
  • #127
  • Dec 12, 2019 3:45am Dec 12, 2019 3:45am
Quoting PandaTradeFx
One more trade that was closed with a profit. In someway, it was closed too early, but it's still profit. As I've already said in previous post, I will take half of this profit to my safe account, should make a habit to do it regulary. So for now I have 2.215$ on trading account, after transfering to safe account I will have: Trading account: 2.100$ Safe account: 436$ To be honest, the further I go the more emotional this challenge becomes. https://youtu.be/hcbK1CVy4rs

You are doing great keep it up i hope you somehow can disregard your emotions in trading see them for what they are enemys. And rules are your best friends think about history, in history your emotions most of the time would make you do the whrong desitions. you must trust yourself and the systems and that it will be best if you dont let emotions trade for you.

Have a nice day

Best regards
  • #128
  • Dec 13, 2019 3:25am Dec 13, 2019 3:25am
Quoting jgadefelth
{quote} You are doing great keep it up i hope you somehow can disregard your emotions in trading see them for what they are enemys. And rules are your best friends think about history, in history your emotions most of the time would make you do the whrong desitions. you must trust yourself and the systems and that it will be best if you dont let emotions trade for you. Have a nice day Best regards
Thanks a lot for support. For me, emotional control is a hardest part of trading. But everything in Forex Trading is experience.
  • #129
  • Dec 13, 2019 3:29am Dec 13, 2019 3:29am
Greed. Again!

I know, that I was saying that I wouldn't trade on Parliamentary Elections in Britain, but to be honest, I couldn't take myself out from the chart.
And instead of 2.100$ on my account, I have 1.900$ on my account.

This lesson cost me 200$
Attached Image (click to enlarge)
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  • #130
  • Dec 14, 2019 8:55am Dec 14, 2019 8:55am
One more trade on Friday and little profit.

Seems for me that I'am doing something wrong. Tomorrow I will post current results and will answer the questions that I got in PM.

Inserted Video
  • #131
  • Dec 14, 2019 9:00am Dec 14, 2019 9:00am
Quoting PandaTradeFx
One more trade on Friday and little profit. Seems for me that I'am doing something wrong. Tomorrow I will post current results and will answer the questions that I got in PM. https://youtu.be/kt0R5RWWNjI

What do you think ia whrong ? I think ylu doing great if you see to youe account and what it was in the first deposit. Maybe e.orio s yes.

Best regards
  • #132
  • Dec 14, 2019 11:14am Dec 14, 2019 11:14am
Quoting jgadefelth
{quote} What do you think ia whrong ? I think ylu doing great if you see to youe account and what it was in the first deposit. Maybe e.orio s yes. Best regards
I feel fear when it's time to open a trade. Just don't have any desire to start from the beginning, but it's a problem of attitude to trading process. One, I found a good post here on FF, that was saying, you feel emotions only when:

1. You risk money that you can't afford to lose
2. You don't know what you are doing

There is no problem with 1 point, so maybe problem in the 2. I know what I'am doing, but I don't belive that it's all as simple as it is.

But from the point of current result, everything is reall OK.
  • #133
  • Dec 14, 2019 12:28pm Dec 14, 2019 12:28pm
Quoting PandaTradeFx
{quote} I feel fear when it's time to open a trade. Just don't have any desire to start from the beginning, but it's a problem of attitude to trading process. One, I found a good post here on FF, that was saying, you feel emotions only when: 1. You risk money that you can't afford to lose 2. You don't know what you are doing There is no problem with 1 point, so maybe problem in the 2. I know what I'am doing, but I don't belive that it's all as simple as it is. But from the point of current result, everything is reall OK.
You can do a personality test and find out what are the weak points of your personallity type and figure out if that has something to do with your current problems. Such a test have helped many people to understand themselves better. http://www.humanmetrics.com/cgi-win/jtypes2.asp
  • #134
  • Dec 14, 2019 1:17pm Dec 14, 2019 1:17pm
Quoting Dmh
{quote} You can do a personality test and find out what are the weak points of your personallity type and figure out if that has something to do with your current problems. Such a test have helped many people to understand themselves better. http://www.humanmetrics.com/cgi-win/jtypes2.asp
Thanks, it's a good test, but I understood one thing, that I often listen to my feelings than my reasonable mind, I know that it's my problem, but how to change this? That is the question!
  • #135
  • Dec 15, 2019 6:04am Dec 15, 2019 6:04am
Results of this week 09-15.12.2019

Start of this week:

Safe account: 200$
Trading account: 1.562$

Current results:

Safe account: 484$
Trading account: 2.000$

Total profit for this week: +722$ Could be more, but I've made emotional mistakes in trading GBP/USD, and it cost me 200$

This challenge was started with just 99$, for now I have in total 2.484$ it's +2.400% to my trading account (All trades you can find on my youtibe channel)

Conclusion: still making emotional mistakes, but less than in the beginning of this challenge. I need to try to follow my trading rules without fear of loss, on history it shows better results. Also, I opened a Safe account, that will help me to start this challenge again if I fail.
  • #136
  • Dec 15, 2019 6:06am Dec 15, 2019 6:06am
Quoting PandaTradeFx
Results of this week 09-15.12.2019 Start of this week: Safe account: 200$ Trading account: 1.562$ Current results: Safe account: 484$ Trading account: 2.000$ Total profit for this week: +722$ Could be more, but I've made emotional mistakes in trading GBP/USD, and it cost me 200$ This challenge was started with just 99$, for now I have in total 2.484$ it's +2.400% to my trading account (All trades you can find on my youtibe channel) Conclusion: still making emotional mistakes, but less than in the beginning of this challenge. I need to try to follow...

Well it sounds to me that your trading account grows and so do you making less emotionell mistakes thats all very good.

Best regards
  • #137
  • Edited 6:42am Dec 15, 2019 6:25am | Edited 6:42am
F.A.Q.

What strategy I'am using trend, falt or scalp?

I don't open scalp trades, if I got a little profit it just means that my signal won't work, so I'am trying to close the trade with a profit, even if it small. I don't follow trends or flats, I'am looking for points were I have big potential for winning, and it doesen't matter if market is tranding or ranging.

Which timeframe I'am trading?

Primarily Daily timeframe, but sometimes I'am using lower timeframes to find better entry point, you can see it in my videos.

What I'am using for trading, any indicator?

My charts is always empty, I don't use historical levels, trend levels, Fibonacci or indicators, only price movements

Do I consider news in my trading?

Yes, only news like Parliamentary Elections or Presidental elections that can cause big moves and slippages. Overall I don't look in economic calendar.

Will I explain my strategy?

I will show important things in my startegy only when (if) i achieve my first target of 13.000$

...
  • #138
  • Dec 15, 2019 7:28am Dec 15, 2019 7:28am
What forex leverage do you use?

1:500 ?
  • #139
  • Edited 12:21pm Dec 15, 2019 10:49am | Edited 12:21pm
Quoting Ritter3
What forex leverage do you use? 1:500 ?
yes.
Seems i understood how he trades). He is used S\R area from h1 to d1, mainly using h4, based on book "trading in the zone by Mark Douglas". . R:R 1:2. Earlier he is used 50% risk account in one trade. Now with afraid lose money, risk become less due emotianals.

Maybe wrong. Am i wrong)?
Like your wife says, hold the fucking position until I tell you I'm done.
  • #140
  • Dec 15, 2019 3:33pm Dec 15, 2019 3:33pm
Quoting vowan4ik
{quote} yes. Seems i understood how he trades). He is used S\R area from h1 to d1, mainly using h4, based on book "trading in the zone by Mark Douglas". . R:R 1:2. Earlier he is used 50% risk account in one trade. Now with afraid lose money, risk become less due emotianals. Maybe wrong. Am i wrong)?
I don't use S/R, yes my potential RR is 1:2 but I always trying to get bigger RR. My leverge 1:500.
I still risk 50% of my account you can see it in my last video, but I was risking less on GBP/USD just because of high impact news such as parliamentary elections in Britain. At this week I will risk 50%=)
And yes, I have a fear of losing money
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