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Growing a £500 Forex Trading Account

  • #1
  • First Post: Edited Sep 20, 2020 4:04am Jul 12, 2020 9:23am | Edited Sep 20, 2020 4:04am
Most people I talk to have less than 1,000 EUR/GBP/USD to invest in trading.

So I've decided to load up a £500 account and document the journey.

I'm hoping to record trades live as they develop depending on the time I have.

In episode 1 below, I walk through the following:

  1. Live Trade
  2. Account Profit / Loss Update
  3. Indicators / EAs used
  4. My Trading Analysis (Why I Entered)
  5. Money Management Philosophy

Episode 1

Inserted Video

Any questions let me know.

To watch all episodes back to back you can view the YouTube playlist here

Thanks,
Zoheb.
Never stop investing. Never stop improving. Never stop doing something new
  • #2
  • Jul 12, 2020 8:41pm Jul 12, 2020 8:41pm
Quoting zoheb01
Most people I talk to have less than 1,000 EUR/GBP/USD to invest in trading. So I've decided to load up a £500 account and document the journey. I'm hoping to record trades live as they develop depending on the time I have. In episode 1 below, I walk through the following: Live Trade Account Profit / Loss Update Indicators / EAs used My Trading Analysis (Why I Entered) Money Management Philosophy Episode 1 https://youtu.be/jnZKm3bJBqQ Any questions let me know. Thanks, Zoheb.
Look forward to seeing your indicators and trading style in action.
  • #3
  • Jul 19, 2020 6:03am Jul 19, 2020 6:03am
Hey guys, I'm excited to release episode 2 which showcases 2 live trades.

I walk through, the indicators I'm using for my analysis and I show the outcome of each trade.

Episode 2

Inserted Video


Looking forward to your feedback
Never stop investing. Never stop improving. Never stop doing something new
  • #4
  • Jul 21, 2020 10:56am Jul 21, 2020 10:56am
Hi Zoheb - you did a vid series about the zone recovery EA and you came to the conclusion

"Yes very risky! Yea I would not 2x the lot size in a live environment"

Are you using this EA in a different way with your 500 GBP challange or is it more like taking a chance?

Appreciate your input as we are testing the recovery ea for some time, contrary to common sense, trying to find an edge that might justify its application.

Cheers
.
  • #5
  • Jul 27, 2020 5:05pm Jul 27, 2020 5:05pm
Quoting Shaishen
Hi Zoheb - you did a vid series about the zone recovery EA and you came to the conclusion "Yes very risky! Yea I would not 2x the lot size in a live environment" Are you using this EA in a different way with your 500 GBP challange or is it more like taking a chance? Appreciate your input as we are testing the recovery ea for some time, contrary to common sense, trying to find an edge that might justify its application. Cheers .
Hey Shaisen, thanks for reaching out! Yes I did say that, and would no way trade it on my larger account.

Yes it's more taking a chance as £500 is very small amount however, I am doing things slightly differently as the Zone Recovery video series was more of taking a trade every day at open of the Asian session.

Thins doing differently:

  1. When entering recovery mode I am 1.5x the lot size (still risky I know)
  2. The aggregated take profit in recovery mode is either breakeven or a small win (gets me out of the trade faster)
  3. Entry methods based on actuals signals I normally trade rather than taking a trade at the beginning of the trading day
  4. I'm taking less trades (not every day)
  5. My box window is larger (usually 20 pips)

Here are my recovery settings:

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot0.png Size: 120 KB

Hope it helps
Zoheb
Never stop investing. Never stop improving. Never stop doing something new
  • #6
  • Jul 29, 2020 1:16pm Jul 29, 2020 1:16pm
Zoheb, thanks so much for detailed explanation - very much appreciated.

.
  • #7
  • Jul 30, 2020 5:55pm Jul 30, 2020 5:55pm
Quoting Shaishen
Zoheb, thanks so much for detailed explanation - very much appreciated. .
No worries, glad it helped.
Never stop investing. Never stop improving. Never stop doing something new
  • #8
  • Aug 20, 2020 6:04pm Aug 20, 2020 6:04pm
Hi Zoheb,

Please can you tell me where I can download/purchase the Cap Zone recovery EA as per your picture above? I have googled it but cannot find it anywhere.

Many thanks.
  • #9
  • Aug 20, 2020 6:30pm Aug 20, 2020 6:30pm
Think I found it, costs 30 Dollars.
  • #10
  • Aug 21, 2020 1:12am Aug 21, 2020 1:12am
Hey Zoheb01, I watched your first two videos. Great Videos mate, it was a very polished and professional production! I'll be following along thanks.

I do have a question because I have traded your method in the past. As you noted the risk is a ranging market and was in fact my undoing. I understand your entry is triggered with your trend dashboard indicator with pullbacks shown with the MACD.

How are you recognising that the market is trending and not in a ranging period? Second question, is the Zone recovery EA always 20 pips away from your entry?
  • #11
  • Aug 21, 2020 3:13am Aug 21, 2020 3:13am
Quoting zoheb01
{quote} Hey Shaisen, thanks for reaching out! Yes I did say that, and would no way trade it on my larger account. Yes it's more taking a chance as £500 is very small amount however, I am doing things slightly differently as the Zone Recovery video series was more of taking a trade every day at open of the Asian session. Thins doing differently: When entering recovery mode I am 1.5x the lot size (still risky I know) The aggregated take profit in recovery mode is either breakeven or a small win (gets me out of the trade faster) Entry methods based...

Looks like a Fibonacci negative progressive staking Money management you have got there. Be Careful...
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  • #12
  • Aug 23, 2020 5:05am Aug 23, 2020 5:05am
Hey guys, I'm excited to release episode 3 which shows another trade using the Zone Recovery System.

I wanted to share an example where things don't go to plan and how the EA gets me out of trouble.

Will be posting a P&L update soon.

Episode 3

Inserted Video


Any questions please shout!
Never stop investing. Never stop improving. Never stop doing something new
  • #13
  • Aug 23, 2020 5:13am Aug 23, 2020 5:13am
Quoting DougKing
Hey Zoheb01, I watched your first two videos. Great Videos mate, it was a very polished and professional production! I'll be following along thanks. I do have a question because I have traded your method in the past. As you noted the risk is a ranging market and was in fact my undoing. I understand your entry is triggered with your trend dashboard indicator with pullbacks shown with the MACD. How are you recognising that the market is trending and not in a ranging period? Second question, is the Zone recovery EA always 20 pips away from your entry?...
Thank you so much, appreciate you watching my content.

Yes a ranging market is what you need to watch out for which is why I am looking for trades on days with a lot of volatility. I believe we can predict that a market will be volatile more than the direction the market will go.

I'm working on a few ADR dashboards to support this so watch this space.

I set the pending buy/sell stop based on the previous highs/lows and the current ADR reading
Never stop investing. Never stop improving. Never stop doing something new
  • #14
  • Aug 23, 2020 5:13am Aug 23, 2020 5:13am
Quoting wingate
Think I found it, costs 30 Dollars.
Glad you found it !
Never stop investing. Never stop improving. Never stop doing something new
  • #15
  • Aug 25, 2020 3:37am Aug 25, 2020 3:37am
Nice! - I'm looking to do something similar with a £1000 account in the future. Just subscribed to your videos, good luck!!
  • #16
  • Sep 20, 2020 4:45am Sep 20, 2020 4:45am
Episode 4 is here! In this episode, I give a status update on how much the account has grown (the good and the bad).

I also shared in another thread that I would trade my new optimised RSI MTF EA settings on one of my live accounts. I thought why not kill two birds with one stone and set this up on this account. The second part of the video shows all the trades the EA took for last week.

Episode 4

Inserted Video


Thanks,
Zoheb.
Never stop investing. Never stop improving. Never stop doing something new
  • #17
  • Last Post: Apr 19, 2021 9:10pm Apr 19, 2021 9:10pm
Quoting zoheb01
Episode 4 is here! In this episode, I give a status update on how much the account has grown (the good and the bad). I also shared in another thread that I would trade my new optimised RSI MTF EA settings on one of my live accounts. I thought why not kill two birds with one stone and set this up on this account. The second part of the video shows all the trades the EA took for last week. Episode 4 https://youtu.be/I1lL8B_6HAY Thanks, Zoheb.

Hello zoheb , i would like to know are you still using this strategy .

Also i would like to know are you multiple your lot until maximum account you have or you stop at round 3 or 4.

Cause its look like promising.

Tq for the reply and sory for my bad english
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