2009 Scalp Trading

This journal to track my trading for year 2009.
I start to learn FOREX in 2007 for about a year with demo trade, started live trading in 2008. I used babypips, forexfactory and trading books as my trading reference.
I only trade micro account, so I only funding my account USD100 dolar each time. After experienced a lot of margin call, I loose track how many times I funded my account, I can't remember how much I lost, i think not more than USD3K, maybe more, will have to wait for 2008 trading summary report from my broker.
The money I used is the money that I already put aside as my pocket money.
Not that I am totaly suck at trading, many times I managed to get around 15% daily return, trading daily.. holding steady for a few weeks, than lost control.. lack of discipline... lack of money management and another big factor greed...and not willing to let go...

Last 2 months I almost got another margin call, I swear this will be my last time trading forex.. I add another USD100..so my account balance is around USD132.XX.

I decided to stick with short time trading style - scalping- which I believe suit my trading style..mainly using EMA and Price Action ++ news..as my guide line..
So far I am getting a good result.. at the moment my account balance is USD445.XX.
Part of it contributed by learning how to manage my greed... I think this can only be learn by trading live...
...

It is a small amount of money, I hope by trading right, I can gain more.

Trading Style: Short Term - Scalping
Broker: FXSOL
Current Trading Account: Micro
Trading TF: 1M and 5 M
Trading system : EMA Cross and Price Action ++ News
Current Currency : USD/JYP , EUR/USD, EUR/JYP
Trading Time Zone: All

----Wish all traders out there good luck ..
especially to traders from Malaysia -----

Managed to get +77 pips last night..good start...

Correction for my previous post , total +111 pips before trading close.

good luck bro!

I closed all trade that still open from 2 January, lost quite a lot of pips.
I made a mistake there ,because all the trades were done without even looking at the chart, just based on the news.... can't properly looking at my chart due to my wife was watching korean drama 'You are my destiny' online using my computer..

Anyway , lucky enough i manage to take back some pips ( +177 )..before close all my trading that day...no open trade...

I had a problem downloading my trading platform yesterday. only managed to get +18 pips..
Currently looking for another broker that offer micro lot trading.. Most likely I will go with Finexo and Oanda as my alternative trading platform.

Total account funding USD2150
Balance by end of 2008 USD480.XX
Quite bad, anyway i did learn a lot from live trading.

nice journal happy trading

Wow... you, uhm, might want to go back to demo trading for a while.

do you achieve anything with having those trades which is all in oneday? if not, should rethink about the approach. maybe should devise a plan to get back your $2520. using $480 starting account should not be that hard.

"trade only the money you can afford to lose" is a very dangerous mentality up to certain degree (while linger on loses too much is not good too, i know). but its like a mantra (by...hehe), in grain in many unconscious mind. you will keep on adding money, made mistake (not really care) and in the end will lose it all. *i stop till here...*



p/s: i go to sleep hehe

year 2008, i was testing with various kind of currency..with many different trading system..from forexfactory and baby pips, at first a started with USD250 (minimun account for FXSOL).. I was only playing GB/USD.. at one time managed to increase my balance up to USD1000..

then i started playing GB/JPY which was a monster eating my account.. and many2 times i trade with standard lot per trade..I know i shouldn't do this..but the temptation of real money is so great..want to get rich quick ..greedy ..end-up i toping up my account every time I got a margin call...honestly, when i am using demo account.. i did not feel this kind of tempation..

Currently , I need to increase my balance quickly by scalping,while market still ranging.. that is why I am trading a lot in one day..but this time I only limit 1 or 2 lot per trade..I will add another position by looking at the chart for confirmation..and limit in total 10 micro lot for open trade.. I still having problem to follow the rule though..I am sticking with EUR/USD and USD/JPY..

I am happy if I can increase my balance at least USD10 daily... until I have enough to trade with standard lot ...

So you're pretty much hosed then, right? I mean you're dedicated to flushing your cash down the crapper, or so it sounds. I'm guessing your broker must love you.

yep.. i guess so... they will get 0.3cents every time i trade...

..I will try my best not to get margin call..or emptying my account... this will be my last ..no more adding any money.. I hope i can survive until end of this year..see how far can i go...

Do you even have an edge yet? Or a trading plan?

Can't say whether I already have an edge yet..but my chart almost 70% accurate if I follow them strictly.. but Istill having problem to follow the rule..base on the chart...

No trading plan yet..but if i can get at least 3k, i will start trading standard lot..

my bro,

i hope you dont take offend on what i said previously..i dont have bad intention. i'm not very good with words. actually i just want to remind you to look at your trades. good accuracy but not plan properly. if you had it planned out, with accuracy, you'll be in another phase now. "only a fool will do battle all day long".

keep on what you are doing.

Tried to limit number of trade daily..manage to grab +168 pips before lost connection from the broker...definitely want to change broker...
Plan to open with Finexo, but they only offer demo for 3 days only..Maybe open USD100 and only trade micro lot..

also trying out scalping.
so stressful and looks so dangerous to me... don't think will try this kind of stuff for long LOL