Journey to me pot of GOLD | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

My Gold trading n scalping journey to 2000plus 114 replies

The Manchild Journey 21 replies

My first live experience - Personal reflections and journey 6 replies

My Trading Diary-The Crazies Journey 8 replies

pls share your journey 10 replies

Journey to me pot of GOLD

  • #1
  • First Post: Edited 1:57am Feb 7, 2007 1:28am | Edited 1:57am
Hello,

My name is Mikhail and I have a dream of turning $2,000 into $100,000 with forex as my only vehicle of achieving this. I know it sounds unrealisic but it is statistically probable and with forex very possible.

That is the mission and these are my rules:

1) Continue Trading Until either I lose the capital of $2000 or I gain $100,000 total in profit

2) All trades must be completely mechanical with the help of expert Advisors.

3) Each chosen expert advisor must be run until it has completed 100 trades after which its effectiveness will be reassessed, either for continued use or removal.

4) When sufficient capital growth is reached new trading systems will be introduced to the portfolio to achieve diversity and stability in the investment

5) Trading will continue with this live account for the period of 5 years if rule one is still true.

The purpose of this journal is for you guys to keep me at check. If I start getting greedy or start diverting from the plan I want you to please hit me at the back of the head to keep me on track.

What you will see in this journal are live trades in FXDD live micro account, I will post trades showing the currency symbol, lots, and profit/loss in Dollars not in pips, because the goal here is also dollars not pips.

OK next post will refer to the first system in the portfolio.

Regards and a firm handshake,
Mikhail
  • #2
  • Edited 2:28am Feb 7, 2007 1:40am | Edited 2:28am
Dear Mikhail

Just what i read from {link removed} i though it might be useful to you...

-----------------------------

Leverage the Killer

Most professional traders and money managers trade one standard lot for every $50,000 in their account.
If they traded a mini account, this means they trade one mini lot for every $5,000 in their account.
Let that sink into your head for a couple seconds.
If pros trade like this, why do less experienced traders think they can succeed by trading 100K standard lots with a $2,000 account or 10K mini lots with $250?
No matter what the forex brokers tell you, don’t ever open a “standard account” with just $2,000 or a “mini account” with $250. The number one reason new traders fail is not because they suck, but because they are undercapitalized from the start and don’t understand how leverage really works.
Don’t set yourself up to fail.
We recommend that you have at least have $100,000 of trading capital before opening a “standard account”, $10,000 for a “mini account”, or $1,000 for a “micro account”.
So if you only have $60,000, open a “mini account. If you only have $8,000, open a “micro” account. If you only have $250, open a “demo account” and stick with it until you come up with the additional $750, then open a “micro account”.
If you don’t remember anything else in this lesson, I plead that you at least remember what you just read above.
Okay, please re-read the previous paragraph and ingrain it in your memory. Just because brokers allow you to open an account with only $250 doesn’t mean you should and I’m going to explain why.




-----------------------------------------------------



Quoting mikhaildgreat
Hello,

My name is Mikhail and I have a dream of turning $2,000 into $100,000 with forex as my only vehicle of achieving this. I know it sounds unrealisic but it is statistically probable and with forex very possible.

That is the mission and these are my rules:

1) Continue Trading Until either I lose the capital of $2000 or I gain $100,000 total in profit

2) All trades must be completely mechanical with the help of expert Advisors.

3) Each chosen expert advisor must be run until it has completed 100 trades after which its effectiveness will be reassessed, either for continued use or removal.

4) When sufficient capital growth is reached new trading systems will be introduced to the portfolio to achieve diversity and stability in the investment

5) Trading will continue with this live account for the period of 5 years if rule one is still true.

The purpose of this journal is for you guys to keep me at check. If I start getting greedy or start diverting from the plan I want you to please hit me at the back of the head to keep me on track.

What you will see in this journal are live trades in FXDD live mini account, I will post trades showing the currency symbol, lots, and profit/loss in Dollars not in pips, because the goal here is also dollars not pips.

OK next post will refer to the first system in the portfolio.

Regards and a firm handshake,
Mikhail
Thanks and Regards Zamir M Iqbal
  • #3
  • Feb 7, 2007 1:44am Feb 7, 2007 1:44am
There are 3 systems that am looking to use to achieve my goals some of which are not yet completed and which the account could still not afford to use. So This first system was chosen because from backtest it only trades on the average of 2-3 trades per month per currencypair which would enable the EA to be run on multiple currency pairs without too much risk on the Account.

So the first system is Fozzy v2.2 (default) trading the following pairs:

GBPJPY, USDJPY, AUDJPY, EURGBP, CHFJPY, NZDUSD, EURUSD, AUDUSD, GBPUSD


Fozzy v2.2 Current Open Trades:

BUY GBPUSD 0.1 lots @ 1.9712
BUY AUDUSD 0.04 lots @ 0.7747

The reason AUDUSD only is 0.04 lots was because I was first testing if all the functions of the EA was working which I have now confirmed is working, all the succeeding trades with Fozzy EA will have value of 0.1 lots.

Current BALANCE: $1967.58
(The balance is already decreased because of some discretionary trades done by me. which will now no longer be allowed in this account starting today.)

Thats it for now I will post the update at the end of the week.

A firm handshake,
Mikhail
  • #4
  • Edited 2:28am Feb 7, 2007 1:48am | Edited 2:28am
Thank you for your quick feedback. And yes I have I micro account set in FXDD, I agree with you $2000 for a mini account is too much leverage which would limit the strategies that could be employed on the account.

Regards,
Mikhail

Quoting zamiriqbal
Dear Mikhail

Just what i read from i though it might be useful to you...

-----------------------------

Leverage the Killer

Most professional traders and money managers trade one standard lot for every $50,000 in their account.
If they traded a mini account, this means they trade one mini lot for every $5,000 in their account.
Let that sink into your head for a couple seconds.
If pros trade like this, why do less experienced traders think they can succeed by trading 100K standard lots with a $2,000 account or 10K mini lots with $250?
No matter what the forex brokers tell you, don’t ever open a “standard account” with just $2,000 or a “mini account” with $250. The number one reason new traders fail is not because they suck, but because they are undercapitalized from the start and don’t understand how leverage really works.
Don’t set yourself up to fail.
We recommend that you have at least have $100,000 of trading capital before opening a “standard account”, $10,000 for a “mini account”, or $1,000 for a “micro account”.
So if you only have $60,000, open a “mini account. If you only have $8,000, open a “micro” account. If you only have $250, open a “demo account” and stick with it until you come up with the additional $750, then open a “micro account”.
If you don’t remember anything else in this lesson, I plead that you at least remember what you just read above.
Okay, please re-read the previous paragraph and ingrain it in your memory. Just because brokers allow you to open an account with only $250 doesn’t mean you should and I’m going to explain why.




-----------------------------------------------------
  • #5
  • Feb 7, 2007 2:49am Feb 7, 2007 2:49am
Quoting mikhaildgreat
Hello,

My name is Mikhail and I have a dream of turning $2,000 into $100,000 with forex as my only vehicle of achieving this. I know it sounds unrealisic but it is statistically probable and with forex very possible.

That is the mission and these are my rules:

1) Continue Trading Until either I lose the capital of $2000 or I gain $100,000 total in profit


Regards and a firm handshake,
Mikhail
I wish you the best of luck in your mission - if you achieve it or come even close then you will inspire alot of people.

All the best.
  • #6
  • Feb 7, 2007 8:04pm Feb 7, 2007 8:04pm
Fozzy EA opened many trades today, and all against the Yen and the Dollar.so now is quite a dangerous time for the Account hope the yen continues its drop at least for 40 points so we could lock in some pips.

Here are the Open trades:

LONG NZDUSD; 0.10 lots @ 0.6874
LONG AUDUSD; 0.02 lots @ 0.7747 CLOSED P/L $7.20
LONG GBPUSD; 0.10 lots @ 1.9712
LONG AUDJPY; 0.10 lots @ 93.94
LONG CHFJPY; 0.10 lots @ 97.22
LONG EURJPY; 0.10 lots @ 157.10
LONG GBPJPY; 0.10 lots @ 237.81

Current Balance: $1974.82
  • #7
  • Feb 7, 2007 9:52pm Feb 7, 2007 9:52pm
Quoting mikhaildgreat
Fozzy EA opened many trades today, and all against the Yen and the Dollar.so now is quite a dangerous time for the Account hope the yen continues its drop at least for 40 points so we could lock in some pips.

Here are the Open trades:

LONG NZDUSD; 0.10 lots @ 0.6874
LONG AUDUSD; 0.02 lots @ 0.7747 CLOSED P/L $7.20
LONG GBPUSD; 0.10 lots @ 1.9712
LONG AUDJPY; 0.10 lots @ 93.94
LONG CHFJPY; 0.10 lots @ 97.22
LONG EURJPY; 0.10 lots @ 157.10
LONG GBPJPY; 0.10 lots @ 237.81

Current Balance: $1974.82
mate, how does Fozzy work? Which thread should I refer to? do you recommend it for live trading? I still have few sub account yet to fill with robots. can you suggest? i only start programming and look for EA recently, and that is why only now you can see my register around here and there.
  • #8
  • Feb 7, 2007 10:49pm Feb 7, 2007 10:49pm
Quoting davidke20
mate, how does Fozzy work? Which thread should I refer to? do you recommend it for live trading? I still have few sub account yet to fill with robots. can you suggest? i only start programming and look for EA recently, and that is why only now you can see my register around here and there.
fallow this link below you will find everything you need to know about fozzy:

http://forexfactory.com/forumdisplay.php?f=87

Regards,
Mikhail
  • #9
  • Feb 7, 2007 11:13pm Feb 7, 2007 11:13pm
Crap, I thought I was going to find some pink hearts, yellow moons, orange stars, and green clovers hiding in this thread.

Your quest sounds magically delicious. Good luck in pursuing it.
  • #10
  • Feb 7, 2007 11:19pm Feb 7, 2007 11:19pm
Quoting mikhaildgreat
fallow this link below you will find everything you need to know about fozzy:

http://forexfactory.com/forumdisplay.php?f=87

Regards,
Mikhail
thanks mate meanwhile, working on your turtle, see whether there is a chance to turn it 180' U-turn
  • #11
  • Feb 7, 2007 11:27pm Feb 7, 2007 11:27pm
Quoting davidke20
thanks mate meanwhile, working on your turtle, see whether there is a chance to turn it 180' U-turn
great look inside the code there is a GLOBAL VAR look for the var "revenge" it is set at false but if you set it to true you would notice significant change in the EA, it trades on retracement... It proved really profitable on certain periods but also increases drawdown on other periods.

I believe when this function is improved, with added filters etc, it could also significantly improve the EA, just haven't found time for further development...

Anyways enjoy!

Regards,
Mikhail
  • #12
  • Feb 7, 2007 11:31pm Feb 7, 2007 11:31pm
Quoting Darkstar
Crap, I thought I was going to find some pink hearts, yellow moons, orange stars, and green clovers hiding in this thread.

Your quest sounds magically delicious. Good luck in pursuing it.
LOL Sorry to disapoint you mate. I promise when I get my Pot of Gold I'll give every member of FF a nice box of cornflakes.

Best Regards,
Mikhail
  • #13
  • Feb 8, 2007 12:31am Feb 8, 2007 12:31am
Quoting mikhaildgreat
I promise when I get my Pot of Gold I'll give every member of FF a nice box of cornflakes.
Lucky Charms Damnit! Lucky Charms!


http://upload.wikimedia.org/wikipedi...cky_charms.jpg
They're Always After me Lucky Charms!
  • #14
  • Feb 8, 2007 6:28am Feb 8, 2007 6:28am
CLOSED TRADES

LONG AUDUSD; 0.02 lots @ 0.7747 CLOSED P/L $7.20 + $8.40
LONG GBPJPY; 0.10 lots @ 1.9712 CLOSED P/L $16.96 + $28.08
LONG AUDJPY; 0.10 lots @ 93.94 CLOSED P/L $16.96 + $16.11
LONG EURJPY; 0.10 lots @ 157.10 CLOSED P/L $16.54 + $21.47
LONG GBPUSD; 0.10 lots @ 237.81 CLOSED P/L $-80.00

OPEN TRADES
 LONG NZDUSD; 0.10 lots @ 0.6874
LONG CHFJPY; 0.10 lots @ 97.22

Closed Trades To Date: 5

Current Balance: $2019.25
  • #15
  • Feb 8, 2007 6:39am Feb 8, 2007 6:39am
THAT BEATS ANY INDICATOR!

Thank you for adding pretty colors to my thread

Quoting Darkstar
Lucky Charms Damnit! Lucky Charms!


http://upload.wikimedia.org/wikipedi...cky_charms.jpg
They're Always After me Lucky Charms!
  • #16
  • Feb 8, 2007 7:59am Feb 8, 2007 7:59am
Never let anyone tell you that you cannot do anything. I turned £27 into just over £40,000 and still building it.
  • #17
  • Feb 8, 2007 8:13am Feb 8, 2007 8:13am
Quoting the_wizard
Never let anyone tell you that you cannot do anything. I turned £27 into just over £40,000 and still building it.
Thank you for your encouraging words. may I ask how you did it? do you have a specific strategy?

Regards,
Mikhail
  • #18
  • Feb 8, 2007 3:46pm Feb 8, 2007 3:46pm
Hi Mikhail.
I started out with only £1,000 and after a period of success spread betting I took on larger risk in the account and suffered a large loss. Once this happened, I overtraded in an attempt to recoup my losses and eventually was left with only £27 in my account.
At this stage, I took a break, found a strategy that suits my psychology and after back-testing began to trade it. Even though I have faith in my system I will admit that it was luck that it worked from the start. When I began, I was forced to trade soyabeans and wheat with this system because that was all I could bet on with such a small pot. However, now I trade only forex.
  • #19
  • Feb 8, 2007 7:24pm Feb 8, 2007 7:24pm
OPEN TRADES
 LONG NZDUSD; 0.10 lots @ 0.6874
LONG CHFJPY; 0.10 lots @ 97.22

NEW TRADE LONG USDJPY; 0.10 lots @ 121.07

Closed Trades To Date: 5

Current Balance: $2019.25
  • #20
  • Feb 9, 2007 9:16pm Feb 9, 2007 9:16pm
End of Week Report

CLOSED TRADES
LONG AUDUSD; 0.04 lots @ 0.7747 CLOSED P/L $7.20 + $8.40
LONG GBPJPY; 0.10 lots @ 1.9712 CLOSED P/L $16.96 + $28.08
LONG AUDJPY; 0.10 lots @ 93.94 CLOSED P/L $16.96 + $16.11
LONG EURJPY; 0.10 lots @ 157.10 CLOSED P/L $16.54 + $21.47
LONG GBPUSD; 0.10 lots @ 237.81 CLOSED P/L $-80.00
LONG NZDUSD; 0.10 lots @ 0.6874 CLOSED P/L $-57.00
LONG USDJPY; 0.10 lots @ 121.07 CLOSED P/L $16.46 + $20.56

OPEN TRADES
LONG CHFJPY; 0.10 lots @ 97.22 FLOATING P/L $16.44

Closed Trades To Date: 7

Current Balance: $1999.60
Current Equity: 2016.40

It was a slow market the past week but we ended the week just a few Dollars ahead, which is always good. So 93 trades for fozzy EA left before its judgment day, but right now I'm already seeing some things that could be added to improve this EA, such a dynamic TP based on ATR and a Step Trailing Stop And Compromise TP, Similar to what PipBoxer SE uses. Will experiment on those improvements but right now Ill stick with the defaults for 100 trades for better or for worst...

Have a great weekend traders!

Mikhail
0 traders viewing now