500$ to whatever I can get

Hi everyone,

In this journal, I'm going to keep a record on the journey of my Trade For Free CMS account.

For those who don't know, to promote their lauch, CMSFX (an international division of Capital Market Services) gave away 500$ accounts to everyone able to make 500$ profit on a 10 000$ demo account (I'm not sure about the 10K, maybe it was 100K). Pretty easy don't you think! Well, yes it was.

More information and statements here and here.

After one week, my real account was opened with 500$.

I start trading this account on September 24th 2007.

I never withdraw anything since I have to trade 30 Lots (equivalents of 3 000 000) and right now, I have traded 20 Lots.

I don't have a proper trading system - I use mostly S/R levels as breakout levels to enter a position. I trade mostly GBPJPY, EURUSD and GBPUSD.

Money Management is pretty simple since CMS doesn't allow micro lots => The volume for each position is 0,1 Lots and I don't have more than 3 positions opened simultaneously. I'm going to raise the volume to 0,2 when I reach 3000$.

Enjoy this journey with me.

November 10th 2008.

Traded Lots : 20
Balance : 2242,88$

http://www.forexfactory.com/attachme...1&d=1226337903

Well, I'll be damned. Looks like you're the last of the Mohicans.

No one else on the forum has gotten as far as you have?

Hi Opie999,

I don't know about that - most people stop posting statements around February. Did they loose everything, I don't know and hope not.

Please, if you are still trading this account, write about your experience.

I know that this account is really hard to trade due to the restrictive money management (smallest possible lots = 0,1 so 1 pip = 1$). If your first trade are winners, you will be okay but in the other case.... as we can see below, it will be really hard to trade the next day and so on.

http://www.forexfactory.com/attachme...1&d=1226338888

Left column is your losses in % of the balance and the right column indicates how much in % you need to win to be at breakeven.
For example, if you loose 30% of your balance, you need to win 42,9% to return at the same balance you had before you loose 30%.


Have a nice day everyone, my trade is now +148 pips in profit and I move the stop loss to breakeven. My TP is 150,50 (GBPJPY pair).

Unfortunately the promotion wasn't available to US citizens.

You appear to be doing well. I'll stop by from time to time to check your progress.

November 12th 2008.

Traded Lots : 20,5
Balance : 3005,17$ (+762,29$)






Sadly my first trade on GBPJPY exited on breakeven before the price went down again. My second entry was successful with 756 pip (exit on stop to protect my profit) but my initial tp was still 300 pips below. Waiting for a retracement to re-entry.

Next stop 4000$

November 17th 2008.

A small trade to profit from the week end gap on the EURUSD.

http://www.forexfactory.com/attachme...1&d=1226930180

Result : + 69 Pips

http://www.forexfactory.com/attachme...1&d=1226926581

Traded Lots : 20,6
Balance : 3074,17$ (+69$)
Pips Count : + 2625 Pips

Have a nice day

February 10th 2000.

I didn't trade a lot since the last time I post and in fact I made some notable losses before gaining everything back and since today, I'm above the equity of my last post.

Result : + 96 Pips

Traded Lots : 26,3
Balance : 3166,88$ (+92,71$)
Pips Count : + 2721 Pips

I think I was part of the Mohicans well done to you judex001

Hi everyone,

After the successful "500$ to whatever I can get" experiment. I decided to start over again to reconnect with the basics of trading. Indeed, since the experiment, I have been involved mostly in automated trading (successfully I have to say) but it's not as fun as trading by myself.

The "500$ to whatever I can get" experiment ended up with a profit of around 3500 USD (I close the account and withdraw all the money because I needed cash to pay for my studies at that point).

These are the parameters of this new experiment.

Starting balance: 99.22 Euros
(100 (funding) - 1.5 (fees) + 0.72 (last balance))

Broker: ActivTrades

Position size: 0.01 between 0 and 200 / 0.02 between 200 and 300 / etc..

Strategy: manual trading (mostly breakouts) - I will use signals generated by automated trading systems but everyone of them needs to be approved visually.

Goal: 3000 Euros

Attached are the results for the first week of trading.