Hi all,
starting this thread I will try to reach something that some already have done and most never will manage to do.
I want to make my first million by trading in the forex market starting with only 10,000 Euro over a period of 10 years. And I want to document it here so everyone can see if I fail or not.
10 years are a long period at least in the forex markets and market conditions will change in that period. So how will I try to achieve my goal?
The first two months I tried a pure mechanical approach using inside bars. This attempt failed. So now I just do simple discretionary trading using some fundamentals and simple technical stuff. I trade low leverage, usually 0.5:1 up to 2:1 per entry...
As I start my christmas/new year vacation soon I'll start this journey in January 09. You might ask why I post this right now if I primal start in January? Hmm... Don't know, have some time now so I do it.
So be warned this will be one of the most boring threads ever!
Tracking - last update 23-October-2009
Monthly Average: +8.20%
Estimated months to million at this rate: 59 overall / 50 left
Starting Balance 08-Jan-2009: €10,000.00
Current Balance 13-Oct-2009: €25,799.41 +157.99%
Jan 2009: €9,215.92 -7.84%
Feb 2009: €8,943.03 -2.96%
Mar 2009: €9,128.69 +2.08%
Apr 2009: €8,559.92 -6.23%
May 2009: €11,000.73 +28.51%
June 2009: €11,777.97 +7.07%
July 2009: €14,059.48 +19.37%
August 2009: €15,344.71 +9.14%
September 2009: €19,130.28 +24.67%
October 2009: €25,799.41 +34.86%
And that's the equity how it should look like 2009:
http://www.xaron.net/dl/fx/2009/ib/equity.png
light green: the needed equity excluding taxes
orange: the needed equity including taxes
green: the real equity
starting this thread I will try to reach something that some already have done and most never will manage to do.
I want to make my first million by trading in the forex market starting with only 10,000 Euro over a period of 10 years. And I want to document it here so everyone can see if I fail or not.
10 years are a long period at least in the forex markets and market conditions will change in that period. So how will I try to achieve my goal?
The first two months I tried a pure mechanical approach using inside bars. This attempt failed. So now I just do simple discretionary trading using some fundamentals and simple technical stuff. I trade low leverage, usually 0.5:1 up to 2:1 per entry...
As I start my christmas/new year vacation soon I'll start this journey in January 09. You might ask why I post this right now if I primal start in January? Hmm... Don't know, have some time now so I do it.
So be warned this will be one of the most boring threads ever!
Tracking - last update 23-October-2009
Monthly Average: +8.20%
Estimated months to million at this rate: 59 overall / 50 left
Starting Balance 08-Jan-2009: €10,000.00
Current Balance 13-Oct-2009: €25,799.41 +157.99%
Jan 2009: €9,215.92 -7.84%
Feb 2009: €8,943.03 -2.96%
Mar 2009: €9,128.69 +2.08%
Apr 2009: €8,559.92 -6.23%
May 2009: €11,000.73 +28.51%
June 2009: €11,777.97 +7.07%
July 2009: €14,059.48 +19.37%
August 2009: €15,344.71 +9.14%
September 2009: €19,130.28 +24.67%
October 2009: €25,799.41 +34.86%
And that's the equity how it should look like 2009:
http://www.xaron.net/dl/fx/2009/ib/equity.png
light green: the needed equity excluding taxes
orange: the needed equity including taxes
green: the real equity