Is this beginner's luck or I actually have a good system? | Forex Factory

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Is this beginner's luck or I actually have a good system?

  • #1
  • First Post: Edited Sep 22, 2008 7:45am Sep 19, 2008 1:09pm | Edited Sep 22, 2008 7:45am
I funded 1k at FXDD and started trading yesterday. Up 35% so far. 21 consecutive wins.
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  • #2
  • Sep 19, 2008 3:09pm Sep 19, 2008 3:09pm
Good luck... though there will be losses

  • #3
  • Sep 19, 2008 3:56pm Sep 19, 2008 3:56pm
i'll up this thread when i have more than 50 trades.
  • #4
  • Sep 19, 2008 4:56pm Sep 19, 2008 4:56pm
Quoting Geelong_Cats
i'll up this thread when i have more than 50 trades.
As Guess said; "There will be losses." I suggest you start preparing, Right Now, as to how you are...
1) Planning to Avoid them!
Don't think for one moment that because you have 20 winners in a row, they all will be winners.
By that I mean, Maintain your %Risk on ALL Trades. Keep your SL's @ your Standard. {The one you widen will be the one that gets you}

2) Mentally prepare {as much as you can} to accept {and deal with the fact} that you are the loser of this {fictitional trade}.

Scenario:
@21 Trades = + $353.00 {Good Money. That's like getting paid for an extra day at a decent fulltime job}

Please do not let 22 Trades = Margin Call.

The Name of the Game is :
"Stay In The Game."
  • #5
  • Sep 19, 2008 5:48pm Sep 19, 2008 5:48pm
Beginner's luck.

To quote a well known trader; "Anyone who thinks trading forex is easy has been trading about five minutes."
How you act is more important than how you feel.
  • #6
  • Sep 21, 2008 10:13pm Sep 21, 2008 10:13pm
the streak is now 28 trades
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  • #7
  • Sep 21, 2008 10:19pm Sep 21, 2008 10:19pm
Quoting Warmagus
Beginner's luck.

To quote a well known trader; "Anyone who thinks trading forex is easy has been trading about five minutes."
I'd agree with that.

But I'd say "Anyone who thinks trading forex is easy isn't making money"
Not all sins are created equal
  • #8
  • Sep 21, 2008 11:09pm Sep 21, 2008 11:09pm
fxdd connection died for 1/2 hour now. i had to call in to close my last couple of positions.

none of the trades are going through. i have no idea what the deal is with that place.
  • #9
  • Sep 21, 2008 11:26pm Sep 21, 2008 11:26pm
connection is back but the accounts are still all screwed up. still have to call in for trades. pretty old school.
  • #10
  • Sep 22, 2008 7:42am Sep 22, 2008 7:42am
ok, fxdd is not that bad. they honored the phoned in trade. the last entry for 18 dollars profit is the my trade by phone. i hate when the fxdd server goes down. i bet the trader wasn't happy that i only placed 0.1 lot trade and call them every 10 minutes.

the streak is 31 now
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  • #11
  • Sep 23, 2008 4:04am Sep 23, 2008 4:04am
Great results so far! I hope your losses will be few and far between. If you don't mind me asking, what kind of system do you use? Some kind of moving averages or something similiar?

regards
Liberate me ex inferis
  • #12
  • Sep 24, 2008 5:58am Sep 24, 2008 5:58am
moving average with price action
  • #13
  • Sep 24, 2008 8:49am Sep 24, 2008 8:49am
Can I make a shout too when my EA proof consistent 100% return per month?

Take a look at my journal
My journal: turn USD320 to USD26440 in 1 year

Background:
The EA had been back tested day by day from Jan08 till now,
so far no losing days.

The EA now tested LIVE with the target plan as #post1 in the journal.
Let's see how it goes and I am quite confident to achieve the target.
  • #14
  • Sep 24, 2008 10:09am Sep 24, 2008 10:09am
mmm i see my replies have been removed i guess you can not offer others a chance to trade my money....ff is so silly with its mad rules
Help each other and the world will be saved.
  • #15
  • Sep 24, 2008 10:26am Sep 24, 2008 10:26am
Quoting Geelong_Cats
ok, fxdd is not that bad. they honored the phoned in trade. the last entry for 18 dollars profit is the my trade by phone. i hate when the fxdd server goes down. i bet the trader wasn't happy that i only placed 0.1 lot trade and call them every 10 minutes.

the streak is 31 now
i dont seem to understand the prices quoted in this your account history ? did eurusd operated in the 1.4500 area today ? or how does your broker quotes its prices ?
know thy edge and abide by it ! 4 in it shall thou be successful !
  • #16
  • Edited 11:07am Sep 24, 2008 10:51am | Edited 11:07am
Quoting robertsonakp
i dont seem to understand the prices quoted in this your account history ? did eurusd operated in the 1.4500 area today ? or how does your broker quotes its prices ?
i opened and closed that trade by phone 2am in the morning. they put it there because it didn't show up on my account when i woke up, and i called them up for 30 minutes about it, so it is at the end.
  • #17
  • Sep 24, 2008 10:13pm Sep 24, 2008 10:13pm
if you look at my trades closer. i seem to get very good entry, but very poor exit. pretty much every time i close my trade in profit, the price keeps moving in that direction for 10-70 pips 90% of the time. i just get too impatient and want to close my trade in profit, which i end up let go so much more.

that is something i need to be working on.

to be fair, 10% of the time, i close the trade in profit, it reverses sharp.
  • #18
  • Sep 24, 2008 10:20pm Sep 24, 2008 10:20pm
if you look at trade 2072006354. i close the sell usdjpy trade with only 1 pip profit, right after i close it, it went down 20 pips more then reverse very sharply for 80+ pips. i donno if i dodged a bullet or missed 10 pips in profit.

the 2nd to last trade, 2072103966, i closed way too premature. i only made 3 pips in profit, if i waited 1 more minute, i could've made 20 more pips. oh well, i am learning.
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  • #19
  • Sep 26, 2008 6:45am Sep 26, 2008 6:45am
the streak is now 44. let's see how long i can keep this up.
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  • #20
  • Sep 26, 2008 8:08am Sep 26, 2008 8:08am
Quoting Geelong_Cats
if you look at my trades closer. i seem to get very good entry, but very poor exit. pretty much every time i close my trade in profit, the price keeps moving in that direction for 10-70 pips 90% of the time. i just get too impatient and want to close my trade in profit, which i end up let go so much more.

that is something i need to be working on.

to be fair, 10% of the time, i close the trade in profit, it reverses sharp.

Don’t you think you’re showing off too much? There are traders here that have won a lot and they aren’t showing off like that.
You might actually have a really good system but I think we are here to learn and to discuss not to be arrogant.
I wish you all the best but you have to be careful because the hit with the floor could be really hard.
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