I started trading about one and a half year ago. For 200 EUR I bought a system I wasn't supposed to tell anybody anything about. If I did the author would certainly know how to trace me.
I started with indexes like the FTSE100. The system didn't quite work for me I found though. So I started trading on 'feeling'. I knew nothing about trading. The only thing I knew was that I was fond of charts and graphics and that there was a lot of money to be made with trading. I got an account with a company that gave the smallest spread and so there I was, thrilled when at my first trade my first 5 EUR came in. (I didn't use the demo for long). Chances came and went. My first account of 150 EUR was added to regularly over the months to come. At a moment I had lost almost 6000 EUR. Then I started all anew with an account of 600 EUR and made in no time to 3000 EUR again. I wasn't hindered by idea's like "system" or "discipline". The words "money management" didn't even exist in that order in my knowing.
Then came May ... and I didn't go away... So all wat was won was lost again. I tried a couple of times once more, only to add more to the losses. The winning was over. Whatever I did, the market always seemed to know what I was up to. If I didn't place a stop when I was long, the market would go whole the way down, down, down. And if I did, the market almost always seemed to know precisely where I put my stop. It came closer just to touch it and then go back again...
After summer I started looking on the internet for trading courses, because I felt that if I ever wanted to succeed in trading I would have to have something like a "system" I could relie upon. So up came the name of some Marc McRae. I subscribed to his lessons and learned amongst other things that there was something like "money management" and that it was all about statistics. So there I found myself before the fact that I had been "trading" for over a year without any control about the money I spent whatsoever. Result : a loss of almost 10K EUR and all my liquid savings gone.
McRae had all kinds of other interesting things to tell but nothing really like a 'ready made' system. He showed me however the way to the world of the fast moving markets of foreign exchange as the places where big money was to be made. So I started discovering the JPY and the USD etc. Then at a moment I thought I was upto something and asked him for advice, but I got a (very quick) answer from an assistant of him that didn't get me much further. So that's when I began searching for newsgroups on FX and so I found the Factory.
I must say, in these few weeks on FF I have learned masses. That's why I feel I have to thank and to congratulate everybody on this forum, because from really everybody on this forum I have learned something usefull.
And I even found a system that I feel confident with. There are lots of systems here, some very sophisticated, some very simple. For the start of my journey I have chosen the latter. I will take off with tkimble's "Part Time Wealth Building Trading System - Weekly Scalping". I like it's simplicity and I have backtested it manually from the beginning of this year till now in the 'raw' version and until now it showed a weekly profit of more than 60 pips, in only 1 out of 10 weeks was there a loss, of 2 pips... I would have been happy to find a system that could give me 5 pips a day, now, in its most simple form I found a system that can give me double.
Then for my MMS, the money management system, I had to be creative, since all of my liquid savings were gone. So I found a trick that I don't need to start with a 'large account' to start trading. I am just going to put in the minimum in my account to get me going consistently, so as the system requires. I am going to start with an account of : 47,12 EUR. If the market goes the other way of the trade, I will have to put in more. But only just as much as is needed to keep me going. So, allthough I don't have an account of 500 or 1000 EUR, I will act as if I have one. Only when the account reaches a certain level (I think 400 or 500) will I start doubling the 'bet'. If I lose the next trade I go back to trading with 1 EUR until I reach the 'doubling level' and start again. And so on and so on.
If all goes well 'doubling' could progress at a pace of once every two months. Now I've placed my first systematic order and wait for favourable winds to take me on my journey.
AmatPro.
I started with indexes like the FTSE100. The system didn't quite work for me I found though. So I started trading on 'feeling'. I knew nothing about trading. The only thing I knew was that I was fond of charts and graphics and that there was a lot of money to be made with trading. I got an account with a company that gave the smallest spread and so there I was, thrilled when at my first trade my first 5 EUR came in. (I didn't use the demo for long). Chances came and went. My first account of 150 EUR was added to regularly over the months to come. At a moment I had lost almost 6000 EUR. Then I started all anew with an account of 600 EUR and made in no time to 3000 EUR again. I wasn't hindered by idea's like "system" or "discipline". The words "money management" didn't even exist in that order in my knowing.
Then came May ... and I didn't go away... So all wat was won was lost again. I tried a couple of times once more, only to add more to the losses. The winning was over. Whatever I did, the market always seemed to know what I was up to. If I didn't place a stop when I was long, the market would go whole the way down, down, down. And if I did, the market almost always seemed to know precisely where I put my stop. It came closer just to touch it and then go back again...
After summer I started looking on the internet for trading courses, because I felt that if I ever wanted to succeed in trading I would have to have something like a "system" I could relie upon. So up came the name of some Marc McRae. I subscribed to his lessons and learned amongst other things that there was something like "money management" and that it was all about statistics. So there I found myself before the fact that I had been "trading" for over a year without any control about the money I spent whatsoever. Result : a loss of almost 10K EUR and all my liquid savings gone.
McRae had all kinds of other interesting things to tell but nothing really like a 'ready made' system. He showed me however the way to the world of the fast moving markets of foreign exchange as the places where big money was to be made. So I started discovering the JPY and the USD etc. Then at a moment I thought I was upto something and asked him for advice, but I got a (very quick) answer from an assistant of him that didn't get me much further. So that's when I began searching for newsgroups on FX and so I found the Factory.
I must say, in these few weeks on FF I have learned masses. That's why I feel I have to thank and to congratulate everybody on this forum, because from really everybody on this forum I have learned something usefull.
And I even found a system that I feel confident with. There are lots of systems here, some very sophisticated, some very simple. For the start of my journey I have chosen the latter. I will take off with tkimble's "Part Time Wealth Building Trading System - Weekly Scalping". I like it's simplicity and I have backtested it manually from the beginning of this year till now in the 'raw' version and until now it showed a weekly profit of more than 60 pips, in only 1 out of 10 weeks was there a loss, of 2 pips... I would have been happy to find a system that could give me 5 pips a day, now, in its most simple form I found a system that can give me double.
Then for my MMS, the money management system, I had to be creative, since all of my liquid savings were gone. So I found a trick that I don't need to start with a 'large account' to start trading. I am just going to put in the minimum in my account to get me going consistently, so as the system requires. I am going to start with an account of : 47,12 EUR. If the market goes the other way of the trade, I will have to put in more. But only just as much as is needed to keep me going. So, allthough I don't have an account of 500 or 1000 EUR, I will act as if I have one. Only when the account reaches a certain level (I think 400 or 500) will I start doubling the 'bet'. If I lose the next trade I go back to trading with 1 EUR until I reach the 'doubling level' and start again. And so on and so on.
If all goes well 'doubling' could progress at a pace of once every two months. Now I've placed my first systematic order and wait for favourable winds to take me on my journey.
AmatPro.
