My way to highway

WOW! Happy weekend and thank you!

Beauty for the eye

Long time reader, new poster.

Nothing really to add other than great determination following your plan and goals. It's easy to get sucked into the retail trader mentality that 100-150% is a reasonable target per month. The reality is, it is nothing of the sort.

Best of luck with your trading.

TheForexDen,
in the end it will turn out there are many hidden readers i never knew off?
thank you for your comment.
and i totally agree. setting realistic goals both help with emotions, and to not kill the account with reckless gambling.
usually large monthly gains come with large dd% too, which isn't much concern with a 2-3 digit acct equity, which relative easy to re-deposit, and the loss is less likely to hurt, vs running into the same 30-50-70% dd on even 10k size, where 3-5-7k dd or loss effectively represent a lot more, like months of living, a second hand car, a family vacation or few, etc.
not to mention it is increasingly more difficult to re-start with the same equity monthly when it represent at least a couple months full salary.
i believe, at some point, everyone arrives to the crossroad where need to decide if to continue forward with the small equity gambling with is a fun, but most often remain a hobby time of activity ( ie have fun, lose it, rinse-repeat, like going to the cinema...pay the ticket watch the movie, then nothing tangible in hand, save money for next movie ticket, and do it again. the fun is there while doing, but there isn't much a long term result out of it, really),
or choose to take oneself seriously, acknowledge that the banks, bonds, ETFs and dividends pay a certain size passive income, say 2-20%, and decide to try to beat that with a somewhat active ( longer term swing trading) or an active ( day trading) fashion with enough margin to justify the time and effort.
in the end of someone flipping burgers can make 3-15$, depend on the country, would probably not want to sell his time for a lot less than on average that 3-15$ per hour. or so i think. else it would just make more sense to stay with the risk free burger flipping, or take that up as a second job ( if someone trades on the side/after a full time job).

this is my view, and try to stay in line with this in principles.
once again, thank you for your comment!

Hi Zoltan,

I want to thank you for this great thread. It's really an inspiration to all the day traders out there.

There is just too much negativity regarding scalping and day trading and your thread is truly a gem.

And you are right every bit adds up.

Zoltan, hello!
after talking with you, my business went uphill) RSI plus TMA and money management really help me out))
Сjeers Michael

today made some posts on another thread about one popular idea, triangular arbitrage.
want to link them to my journal, some readers may find it interesting.

happy trading!

https://www.forexfactory.com/showthr...3#post12908693
https://www.forexfactory.com/showthr...9#post12909709

Thanks for the links. It was a good read. Please post more link like these so we can all read up.

story time.
probably not for everyone.
but a journal is to make trading notes first and foremost.
and these are my notes, to myself...and for those who care to read.

many times wrote about why i think it is important to set goals in trading. some may be shorter, the immediate one, others probably mid or long term.
and today post is about a goal, a personal one.

my little self-challenge game was/is to try to string together profitable days. i had some good runs with it in the past and was able to beat myself for an increasingly better number....47....60....78...were previous best runs.
until the current one....
once i passed the previous best 78, it was open horizon once again.
and i wasn't stopping just a few more days past it. i wasn't even stopping at 100.
and out of the day to day goal, born the next mid-term goal idea for me.
what if i can finish not only 12 months in a row in profit ( done that again ending last Dec period),
but if i could finish a 365 days ( 1 full year!) period with no losing days encountered?
so that became my secret new mid-term goal the end of 2019, just as i was approaching 100 consecutive days too...stretch that streak for another 4 months and some.

since 2019 ended up with only 1 losing day, i remembered the date easily, 6th May, 2019. that ended 78 trading days then best streak.
starting over always feels hopeless, looking from day#1 something like 50-60-70 trading days in the faaaar distance.
but that is the challenge!
one day a time. could do before, try to do it again.
and along the way try to adjust a little here and there in hope to improve.
from out of that 2019 loss came a firmer rule not to trade into London close of Fridays, and definitely avoid beyond.

anyway, fast forward to yesterday...
why?
bcos yesterday was the 6th May, 2020...
AND the current self-challenge game started fresh from 7th May, 2019...
which means EXACTLY 365 days /1 year earlier!
MILESTONE HIT!
and what a milestone!!!
1-year trading without a losing day in the period, and without any overnight holding! that is right, no keeping losing entries in hope some day will turn into positive.

of course 365 days in the calendar doesn't equal to the same numbers of trading days. part for the simple reasons that 52 weekends will be automatically deducted...and part bcos i still take days off for various reasons, like the 4 weeks in last summer to visit family in Hungary, or days when i am not feeling well (only trade when not feeling sick!), and some days just not giving setups that i would find good enough and thus are no trade days.
so the current consecutive count is #167 ( working on the 168th)...and who knows, maybe eventually i can see that hitting #200...which would be another milestone, after more than doubling my previous best.

but this post is about the 1-year period!
after 8 months into it, i started to believe it may just be possible to do it, but it seemed a crazy idea then, and it is somewhat still unbelievable now.
to be totally honest, i have never seen it before done.
many times talk to aspiring traders looking to start out, asking for some sort of proof to see what may be possible to achieve.
i had met a few, and i think helped a few showing some stats.
"seeing is believing"
this and many other forums are full of successful traders...in theory...bcos very little proof is out there to back their words.
and they dont have to...but nor have to make claims ready to defend.
in a place where high impact comes fast with a clickbait title, or the promise of a renamed EA downloaded from another site...real proof is hard to come buy.
the "seeing" is the missing part, while there is plenty "believing".

i think it would be a lot easier for me also, if i have a chance of seeing someone did this.
the TE is a great tool. it can block some info out, but it can show plenty evidence that live trading is taking place, and the results.
beats a phone screenshot, beats a trade call post where the trade may or may not be taken, beats a statement where the "demo" evidences carefully cropped out.

so, i haven't find that help and motivation to see what can be achieved, or if consistency can be real or a myth.
i sincerely hope that some of the posts in this journal help to find answers to others i was not able to find when i was searching for.
namely a few: it is possible to daytrade forex; it is possible to be consistent on a longer run; it is possible to compound smaller daily gains to a good high return...

a screenshot from the TE's stat for the 1-year:


and finally, about going forward
i have decided the next milestones before this one was hit. not a lot before, but it is important to have a plan forward.
for the mid-term will continue to work on the days, and try to pass 200...possible in the summer some point.
for the short-term, it is the end of May, if all is well, the 18th consecutive profitable month. so far in green, but the end is far away.

set a goal, and work toward it, one day a time!
happy trading!
Zoltan

Amazing achievement Zoltan! No need to provide people with flashy dollar signs, this is an amazing and hard worked for result! You have backed it up with a live and honest TE, which isn't necessary but atleast it will keep the naysayers quiet! Like that trader Alex from WSW said, try to make some profit everyday!

This is a great post that I'm sure will inspire more people that it's possible to achieve things in the longer run!

I'm sure you will reach more goals you have set out in the future!

Cheers!

Hi Zoltan,

Impressive milestone! One year without a losing day and everything is documented with a live TE!

I would say that's unique on FF...at least I have never seen it elsewhere. I know there are other profitable traders out there, in fact some of them are/were on my buddy/subscription list. But they decided to keep their results private and, frankly speaking, I would probably do the same...

On the other hand, I am one of those for which "seeing is believing" and it was a HUGE boost of confidence witnessing that someone is actually trading for a living...not to mention the great advices and lessons you taught me, which helped me to improve my trading in a way I never thought is was possible...And I am sure I am not the only one.

Congrats again and I hope to read more posts about achieved goals/milestones ,

Keep on going man,

Bogdan

Hi Zoltan

Incredible trading results and lots of detail in your TE which every trader here at Forex Factory should study very closely.
Impressive win rate, great profit factor - great trader

Cheers

Wow, wow, & wow again. I personally believe that accepting losses is crucial to trading. Traders who do not learn how to accept losses tend to make psychological mistakes such as revenge trading. That one loss can easily spiral into bigger losses. I'm sure everyone has experienced it before. It is a huge obstacle to making consistent profits. Losses are a part of trading (at least for everyone except Zoltan ).

You are definitely one of a kind. You are an example of how there are so many different ways to profit consistently from the market, as long as you have an edge and master your craft. I honestly think you are the only trader on this entire planet who did not have a single loss for one entire year while trading on a daily basis.

Congratulations on your milestone!

P.S. The only way I would be able to achieve what you have achieved is by creating a new account, having one winning trade, and leaving the account alone for the rest of the year.

thanks!
there are losses taken, as part of setups. just the end of days came out positive.
what i agree, that there is many ways to approach the market, and that the trader's chosen way need to fit his personality.
mine is to not to lose too often, and sleep well with no open trades when i am not around.
and start every day fresh, with 100% equity.

i am sure you have heard the joke...
how do you eat an elephant?

Ohhh, silly me! I quickly assumed you didn't take any losses looking at that upward equity curve and max drawdown being 0.0%. Still, that doesn't make it any less impressive. Keep taking those bites one at a time.

hi all,

first of all, i would like to thank everyone who was reading my journal!

there will be some changes going forward,
that isnt an easy decision to make, but i think overall would be the right one for me, for multiple reasons.
let me elaborate a little...

some point the next week i will be very likely changing my forum status for 'commercial member'.
yes, i know.
but wait a bit with the judging just yet

i have been using the forum about 6 years now, and it is somewhat addictive. there is a couple of topics that are interesting, and i post here and there. up for debate if too much or not, but trying to limit it, with admittedly mixed success, lol.

i also enjoy talking to ppl and sharing some trading related ideas and views and teach/mentor others. but sometimes the time it consuming is a relatively large chunk of my day. while my "work" is to be near my computer, and often the time is waiting for a certain type setup, end of the day it is still sort of a "work" to teach, and no one really want to work plenty hours for no money. yet to find any curious/aspiring trader who told his boss at his 9-5 that willing to work 4 weeks for 3 weeks worth of salary, just bcos he thinks he makes too much.
many ppl want to talk about many things for totally free, and it is OK and it is not OK the same time.
not fair to myself for valuing my time for nothing, and not fair from the ppl valuing my time for nothing!
time is a very valuable and very finite commodity...no chance to buy more, even with money. so it is only right to try to spend it smartly.

being a commercial member comes with instant perks:
very very limited PM option.
very very limited areas to post on the forum, or even give a like.
a chance to offer something where i can get some way compensated for my time, if doing effectively the same as now.

so, here is what will be like, i think:

i will ask Twee to move this journal thread probably to 'commercial' (even though the journal isnt/wasnt/wont be commercial itself), so i will be able to post on it still. i will most probably maintain it with not too frequent posts; most of the important things are there, discussed, and i think many still will find the same motivation from it, as they had until now; no changes to that!

i will be most likely not be able to answer PMs the same way as now. some of you have my personal contact on skype, if need to reach me, else the priority will be for buddies, and those who read the journal to answer anything, as time and PM restriction allows it.

i will probably offer a mentorship, only 1 on 1, and only probably 1 person a month, a month length a time. it wont be for free. i truly believe that my time worth more than nothing! on the other hand i will be completely fine with zero interest as well.
i believe i have something solid to offer, more, that i can also back things up more than 99% of the forum users can, regular or commercial alike.

anyway, the ultimate goal is not financial,
but to put an artificial distance between myself and the forum posting mainly.
it was definitely an experience, and something i dont regret at all.
but i feel for now that i would like to move a little bit to a different direction.
this change will be a part of that move.

once again, i would like to thank all of you who read this journal, and commented on it, i know many of you who are following me for a while.
even despite this journal isnt about doubling the money fast, or making the most pips, or posting live calls, or...well, not many things of what other journals are.
period.

but as i said, i plan to keep this as it is.
the TE may or may not be included, as i feel.
if there will be an offer for mentoring, or any other things related, it will be on a separate thread!

thank you for understanding and respecting my decision.
as before and always, can discuss things and feel free to express views, no one is ignored here. but if you do, try to do respectfully, even if disagree with me!

wish everyone a happy weekend!
Zoltan

I am not surprised with your decision.
With almost 3 decades in this industry, I knew this day will come when you started this thread. It's called experience. Good that your intention is now made publicly known.

This free mentality that's prevalent on this forum is to me wrong. Others may disagree.

Wish you all the best with your commercial endeavour.

Nice work Zoltan; you inspired many of us.

Great results!

One year of no down days is a fantastic achievement.

Best of luck with the venture, some new traders would be wise to give it a try.