I haven't got a clue! | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Who Got Rich and Who Got Burned? 9 replies

short on eur/us..my entry order got blown by 11 replies

I got 300 pips today 10 replies

I finally got FLAT in Cash & Carry (Standard) YEAH!!! 0 replies

Got 30 or so minutes to spare? 32 replies

Attachments: I haven't got a clue!
Exit Attachments

I haven't got a clue!

  • Linked: WhyLose.com | Brokerage Account XXXXX41
  • Trader:
  • Broker:
  • Type:
This Trade Explorer is no longer publicly available.
  • #1
  • First Post: Edited Feb 7, 2012 4:01am Dec 28, 2006 9:58am | Edited Feb 7, 2012 4:01am
How long will it take to blow my $500?

I've now had 18 consecutive profitable trades. Why? No stop loss and no fear of loss I guess.

I try to look for support and resistance and swing or momentum trade but I'm really not that good at it. I'm still learning. Simply though I'm happy with just a few pips profit.

I want to now see the longest string of profitable trades I can achieve. I'll drop by here two or three times a week when I've got something to say. Nobody will learn anything from me - I don't now much - but I'm sure most visitors here will note that trading forex should never be done this way. And perhaps that will be a good lesson for all.

It's a live account funded with $500. I will now try and post my account statement. Hopefully it will appear below.

http://www.wildmonkey.org/fxdd/trades1.jpg

http://www.wildmonkey.org/fxdd/trades2.jpg
Do not focus on making money; focus on protecting what you have.
  • #2
  • Dec 28, 2006 10:07am Dec 28, 2006 10:07am
lol...


I like
  • #3
  • Dec 28, 2006 10:07am Dec 28, 2006 10:07am
Just noticed. Thanks Chicago PMI.
Do not focus on making money; focus on protecting what you have.
  • #4
  • Dec 28, 2006 10:09am Dec 28, 2006 10:09am
Thanks Daemien.
Do not focus on making money; focus on protecting what you have.
  • #5
  • Dec 28, 2006 11:27am Dec 28, 2006 11:27am
Times are GMT+2. The current open trade is now at a loss of $39. I limit this account to a maximum of 3 open trades at any one time.

Further trades will be opened at discretion and all trades will hit the TP or a margin call will close the positions. Will this account last for more than a week? It shouldn't, should it? Hopeless money management and risk management is a joke. And no stop loss - forex suicide.

EURUSD heading to resistance at 3167 - currently 3161. I hope it turns around.
Do not focus on making money; focus on protecting what you have.
  • #6
  • Dec 28, 2006 11:45am Dec 28, 2006 11:45am
Open loss on Short EURUSD now $46. 2 gambles (err... trades?) now open.
Do not focus on making money; focus on protecting what you have.
  • #7
  • Dec 28, 2006 12:06pm Dec 28, 2006 12:06pm
Why? I thought there was gonna be an upside breakout now it looks like it could come back down again because of the resistance noted above.

There is now my maximum of three trades open and we'll see where we go. Current open loss of $51 with a free margin of $487.
Do not focus on making money; focus on protecting what you have.
  • #8
  • Dec 28, 2006 12:25pm Dec 28, 2006 12:25pm
You have beginner's luck on your side. And innocense. Many people are winners at first, then efficient losers, and never get back their innocense. Maybe you can retain your innocense and make a fortune without arrogance or sophistication. That would be nice.
  • #9
  • Dec 28, 2006 12:30pm Dec 28, 2006 12:30pm
Beginner's luck????

I remember a couple of years ago when I was a beginner I had a record of about 2 for 10 and blew a $500 account in about a month.

Why o why is doing MUCH better than that!
Don Life is expensive, but includes a free trip around the sun.
  • #10
  • Dec 28, 2006 12:44pm Dec 28, 2006 12:44pm
Quoting itme
You have beginner's luck on your side. And innocense. Many people are winners at first, then efficient losers, and never get back their innocense. Maybe you can retain your innocense and make a fortune without arrogance or sophistication. That would be nice.
Hi itme,

Thanks for dropping by. I've read a lot of your posts - nice to see such a distinguished member taking the time to post here.

I wouldn't class it as beginner's luck - I still have an account which was opened before the Refco debacle. I guess I'm just a slow learner. Maybe I am still innocent and I am certainly an efficient loser - on Forex only fortunately. Maybe I'll get it right one day. Have a great 2007.
Do not focus on making money; focus on protecting what you have.
  • #11
  • Dec 28, 2006 12:55pm Dec 28, 2006 12:55pm
Quoting traderone
Beginner's luck????

I remember a couple of years ago when I was a beginner I had a record of about 2 for 10 and blew a $500 account in about a month.

Why o why is doing MUCH better than that!
Thanks for the encouragement traderone. Great to see you here too. I hope I last a month. Current trades are going nowhere - $493 free margin and an open loss of $45. I'll get it right one day. And I always smile when I see your signature. Have a fab 2007.
Do not focus on making money; focus on protecting what you have.
  • #12
  • Dec 28, 2006 2:04pm Dec 28, 2006 2:04pm
Quoting Why Oh Why
Why? I thought there was gonna be an upside breakout now it looks like it could come back down again because of the resistance noted above.

There is now my maximum of three trades open and we'll see where we go. Current open loss of $51 with a free margin of $487.
The 3167 short hit TP for $20. Now only two trades open with free margin of $639 and a static $51 open loss until one or both hit TP in the Asian session.
Do not focus on making money; focus on protecting what you have.
  • #13
  • Dec 28, 2006 10:12pm Dec 28, 2006 10:12pm
A revised static open loss of $52.15 until something hits TP.
Do not focus on making money; focus on protecting what you have.
  • #14
  • Dec 28, 2006 10:53pm Dec 28, 2006 10:53pm
why o why, what pip value do u use with 500 bucks and no stop loss, judging on your 50$ plus gains you must be risking about a fifth of ur account on trades

seems risky but who am i to talk, keep up the good work

sincerely, pipbird
  • #15
  • Dec 28, 2006 10:54pm Dec 28, 2006 10:54pm
Quoting Why Oh Why
I thought there was gonna be an upside breakout now it looks like it could come back down again because of the resistance noted above.
It's testing resistance at 3165 again. Another possible short coming up if there's no upside breakout.
Do not focus on making money; focus on protecting what you have.
  • #16
  • Dec 28, 2006 11:07pm Dec 28, 2006 11:07pm
Quoting PipBird
why o why, what pip value do u use with 500 bucks and no stop loss, judging on your 50$ plus gains you must be risking about a fifth of ur account on trades

seems risky but who am i to talk, keep up the good work

sincerely, pipbird
Hi pip,

Thanks for posting. You're right. And the pip value is $1. Sir, have a great day.
Do not focus on making money; focus on protecting what you have.
  • #17
  • Dec 28, 2006 11:38pm Dec 28, 2006 11:38pm
I'll just let the two open trades run and with a bit of luck they'll both hit TP before the weekend. I'm off the the airport now. Have great day everyone.

Currently it looks like there could be an upside breakout but I'm not so sure so sidelined for the moment.

Do not focus on making money; focus on protecting what you have.
  • #18
  • Dec 29, 2006 1:11am Dec 29, 2006 1:11am

http://www.tradingcentral.com/chart/...1229074736.GIF


The RSI failed to exceed its overbought level @ 70, a consolidation could take place.

3242 Intraday resistance
3213 Intraday resistance
3187 Intraday pivot point
3180 Last
3149 Intraday support
3132 Intraday support
3105 Intraday support

Preference: SHORT positions @ 318 but I don't fancy it on the last day of the trading year.
Do not focus on making money; focus on protecting what you have.
  • #19
  • Dec 29, 2006 1:21am Dec 29, 2006 1:21am
Long 3173 hit TP for 10 pips. Free margin now $509 and open loss on short 3124 $59
Do not focus on making money; focus on protecting what you have.
  • #20
  • Dec 29, 2006 5:39am Dec 29, 2006 5:39am
Quoting Why Oh Why
Preference: SHORT positions @ 318 but I don't fancy it on the last day of the trading year.
Oh well, c'est la vie.
Do not focus on making money; focus on protecting what you have.
0 traders viewing now