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Attachments: uncommon? 51 trades I never lost
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uncommon? 51 trades I never lost

  • #1
  • First Post: Oct 18, 2005 10:32pm Oct 18, 2005 10:32pm
3/28/05 1:31 AM
PnL19782104355465100.0049,020.003/28/05 3:25 AMPnL19782104355404250.0049,270.003/28/05 3:25 AMPnL19782104355416500.0049,770.003/28/05 3:28 AMPnL1978210435433040.0049,810.003/28/05 3:28 AMPnL19782104355169200.0050,010.003/28/05 8:29 AMPnL1978210435460341.4850,051.483/28/05 1:47 PMPnL1978210436197960.0050,111.483/28/05 8:55 PMPnL1978210436583155.9550,167.433/28/05 9:26 PMPnL1978210436605710.0050,177.433/28/05 11:05 PMPnL19782104366731200.0050,377.433/28/05 11:49 PMPnL1978210436745018.6650,396.093/29/05 1:39 AMPnL19782104368133350.0050,746.093/29/05 1:50 AMPnL1978210436724840.0050,786.093/29/05 2:38 AMPnL19782104368617150.0050,936.093/29/05 2:39 AMPnL19782104368923250.0051,186.093/29/05 2:39 AMPnL197821043687039.3451,195.433/29/05 9:19 PMPnL19782104378689600.0051,795.433/30/05 12:12 AMPnL19782104380816100.0051,895.433/30/05 4:51 AMPnL19782104382032350.0052,245.433/30/05 4:51 AMPnL19782104380922100.0052,345.433/30/05 9:52 AMPnL19782104386661600.0052,945.433/30/05 5:16 PMIntr19782104390816-36.0052,909.433/30/05 6:15 PMPnL19782104392043150.0053,059.433/31/05 2:27 AMPnL19782104390816650.0053,709.433/31/05 9:54 PMPnL197821044066719.3153,718.744/1/05 12:17 AMPnL19782104406649100.0053,818.744/4/05 5:20 PMIntr19782104419435-12.0053,806.744/4/05 5:20 PMIntr19782104419385-2.4053,804.344/5/05 5:22 PMIntr19782104419435-12.0053,792.344/5/05 5:22 PMIntr19782104419385-2.4053,789.944/6/05 5:22 PMIntr19782104419435-36.0053,753.944/6/05 5:22 PMIntr19782104419385-7.2053,746.744/7/05 5:33 PMIntr19782104419435-12.0053,734.744/7/05 5:33 PMIntr19782104419385-2.4053,732.344/8/05 2:05 PMPnL19782104419385150.0053,882.344/8/05 2:05 PMPnL19782104419435650.0054,532.345/9/05 8:00 PMPnL197821047758450.0054,532.347/3/05 5:54 PMPnL19782105383250100.0054,632.347/3/05 6:01 PMPnL19782105383475200.0054,832.347/3/05 6:02 PMPnL19782105383468200.0055,032.347/3/05 6:05 PMPnL19782105383550400.0055,432.347/3/05 6:09 PMPnL19782105383617400.0055,832.347/3/05 6:11 PMPnL19782105383642200.0056,032.347/3/05 9:26 PMPnL19782105385077100.0056,132.347/4/05 12:42 AMPnL19782105385403400.0056,532.347/4/05 5:36 PMIntr19782105393210-34.5056,497.847/4/05 8:04 PMPnL19782105393210600.0057,097.847/4/05 8:53 PMPnL19782105395811200.0057,297.847/4/05 10:52 PMPnL19782105396052400.0057,697.847/8/05 1:33 AMPnL19782105446392600.0058,297.847/8/05 8:39 AMPnL19782105448669800.0059,097.84
***Building an EMPIRE one pip at a time***
  • #2
  • Edited 10:43pm Oct 18, 2005 10:37pm | Edited 10:43pm
that didnt come out to good but thats my first 51 trades minus like 4 while I was learning the platform, I never lost once???? I did how ever take a few breaks ...... I just think its crazy that I was reading a post that said 10 pips a day was hard!!!! lol I dunno about that

start $49,020.00 finish $59,097.00 I wish I could post the lines straight for you guys.... is that a freak of nature to have that good of luck? the money is not whats crazy its the 51 straight good trades with no losses...


Mike...
***Building an EMPIRE one pip at a time***
  • #3
  • Oct 18, 2005 11:35pm Oct 18, 2005 11:35pm
Quoting Gyva
that didnt come out to good but thats my first 51 trades minus like 4 while I was learning the platform, I never lost once???? I did how ever take a few breaks ...... I just think its crazy that I was reading a post that said 10 pips a day was hard!!!! lol I dunno about that

start $49,020.00 finish $59,097.00 I wish I could post the lines straight for you guys.... is that a freak of nature to have that good of luck? the money is not whats crazy its the 51 straight good trades with no losses...


Mike...
real money or demo?
  • #4
  • Oct 19, 2005 3:00am Oct 19, 2005 3:00am
It was a demo, I have funds on the way via money order to open my real account... I'm really thinking it was beginners luck lol.... we'll see what happens with real money


Mike...
***Building an EMPIRE one pip at a time***
  • #5
  • Oct 19, 2005 4:48am Oct 19, 2005 4:48am
That 51 trades is exceptional by anyones standards.What would worry me is the fact you only grew your account by $10000.
  • #6
  • Oct 19, 2005 9:37am Oct 19, 2005 9:37am
Quoting Gyva
that didnt come out to good but thats my first 51 trades minus like 4 while I was learning the platform, I never lost once???? I did how ever take a few breaks ...... I just think its crazy that I was reading a post that said 10 pips a day was hard!!!! lol I dunno about that

start $49,020.00 finish $59,097.00 I wish I could post the lines straight for you guys.... is that a freak of nature to have that good of luck? the money is not whats crazy its the 51 straight good trades with no losses...


Mike...
Hi Mike,
I've cleaned up your numbers so I can read them. See the attached PDF document.

You did not have 51 winning trades. 10 entries were for rollover interest and 1 was a breakeven trade, so you only had 40 winning trades.

Since only one date/time entry is given I can't tell how long each trade lasted, but given that most of the date/time entries are only a few minutes apart, I'm going to venture a guess that you were trading one standard lot on most of the trades, This would give you, in most cases, $10 per pip. Given that most of your profits were multiples of only a few tens, it appears you were scalping just a handful of pips at a time. Very difficult to do with any consistency. I know I can't do it.

Given all the above, your results appear to be impressive and I would be interested in hearing your system of entries, exits and stops.

Also, why the large periods of inactivity? If I was making several hundred dollars a day, it would be hard for me to go so long between trading days.

Would you mind sharing your system?

Thanks

Dial
Attached File(s)
File Type: pdf 40Not51.pdf   29 KB | 561 downloads
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  • #7
  • Oct 19, 2005 10:18am Oct 19, 2005 10:18am
Yes, please do share.
Always wait for the opportune moment… just be careful not to miss it.
  • #8
  • Oct 19, 2005 2:09pm Oct 19, 2005 2:09pm
Well, I surely do not have 40 or even 51 winning trades on a row, but I did manage to make almost Euro 30.000 profit out of Euro 10.000 starting capital.

I started in May this year, after having done some excercise in a demo account and reading some usefull books. I made some losses and considerable profits, and now my account shows Euro 39.295. Not nett yet, as I have some outstanding trades (mostly Euro bulls), but I am confident about those. For the record, real money !!
My system? In fact, no real system in the sense of trading along severe TA signals. Each evening, I spend about 30 minutes reading all the expert information I can get on the Internet, e.g. sites like www.fxstreet.com, on the basis of which I place my trades. With success..... or should I say with luck??
  • #9
  • Oct 19, 2005 2:44pm Oct 19, 2005 2:44pm
Quoting Aroon
Well, I surely do not have 40 or even 51 winning trades on a row, but I did manage to make almost Euro 30.000 profit out of Euro 10.000 starting capital.

I started in May this year, after having done some excercise in a demo account and reading some usefull books. I made some losses and considerable profits, and now my account shows Euro 39.295. Not nett yet, as I have some outstanding trades (mostly Euro bulls), but I am confident about those. For the record, real money !!
My system? In fact, no real system in the sense of trading along severe TA signals. Each evening, I spend about 30 minutes reading all the expert information I can get on the Internet, e.g. sites like www.fxstreet.com, on the basis of which I place my trades. With success..... or should I say with luck??
You have a system, whether you realize it or not. I'm sure there is at least a rough procedure you are following, or should be. Sounds like you are trading fundamentals rather than technicals. I'd like to hear more about how you do your research if you are willing to share.

Thanks

Dial
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  • #10
  • Oct 19, 2005 3:28pm Oct 19, 2005 3:28pm
My first experience with forex after trading for a few days was to pull 89 trades in a row without a loss on a demo account. I traded without stops and most trades were gbp. I set targets of 5 pips and rarely went beyond that target but got a few trades with 10 or 15 pips. Then when a major reversal came I lost most of my wins. I was devastated because I thought I'd found the motherlode of trading. I was certain I'd be rich from trading and was amazed at why everyone was not doing this.

I never repeated that success and for some time I could not string even a handful of winning trades together without a disastrous loss. I opened a real account and traded it for a while thinking maybe I'd trade better if I was risking real money. I actually did trade better with real money but only because I learned to cut my losses quick. The first lesson of trading is to learn when and how to cut your losses.

In retrospect I was so grateful that I broke that string of wins before I switched to a real account. It kept me from opening a real account and losing a ton of money way too fast.


FT
  • #11
  • Oct 19, 2005 7:36pm Oct 19, 2005 7:36pm
Ok just to let you all know today I bought my first 2 books about currency trading. "getting started in currency trading by Michael D. Archer" and "Forex made easy by James Dicks" I stumbled onto Forex one day while typing in Investments on my yahoo search engine. I had played with penny stocks but never any success. Never being a chicken little I looked into Forex. I downloaded Refco's platform and starting watching the movement. I glanced at 1 min, 5 min, 10 min, so on charts to make sure nothing major had happened recently, like a 50 pip spike or so forth, I wanted to get in while the market was "normal" if that can be said. I do all my trading on the tick chart once I make sure nothing crazy has happend recently. I look for baby spikes where the market will move more than one pip in one tick, Now you got to be ready! you have to have your buy box ready to go to where all you have to do is click and its bought or closed, if you have to go through a series of clicks your going to miss it. On your tick chart watch, and just stare at it before you make a move for about 10 minutes. when you see a baby spike drop buy instantly then get your close box ready for the baby spike thats going to happen in a up movememnt and click close, dont be greedy take a pip or 3. But doing this you can play and play and play with no losses look at your charts there are hundreds of chances to make a pip or 2 profit and back that by 100K trades to make the pips worth $100.00, My plan is to get enough equity doing $100 pips to move to $1000 pips.... Theres my plan.... Harness the power of the BABY SPIKE....

Mike...
***Building an EMPIRE one pip at a time***
  • #12
  • Oct 19, 2005 7:41pm Oct 19, 2005 7:41pm
Quoting Gyva
Ok just to let you all know today I bought my first 2 books about currency trading. "getting started in currency trading by Michael D. Archer" and "Forex made easy by James Dicks" I stumbled onto Forex one day while typing in Investments on my yahoo search engine. I had played with penny stocks but never any success. Never being a chicken little I looked into Forex. I downloaded Refco's platform and starting watching the movement. I glanced at 1 min, 5 min, 10 min, so on charts to make sure nothing major had happened recently, like a 50 pip spike or so forth, I wanted to get in while the market was "normal" if that can be said. I do all my trading on the tick chart once I make sure nothing crazy has happend recently. I look for baby spikes where the market will move more than one pip in one tick, Now you got to be ready! you have to have your buy box ready to go to where all you have to do is click and its bought or closed, if you have to go through a series of clicks your going to miss it. On your tick chart watch, and just stare at it before you make a move for about 10 minutes. when you see a baby spike drop buy instantly then get your close box ready for the baby spike thats going to happen in a up movememnt and click close, dont be greedy take a pip or 3. But doing this you can play and play and play with no losses look at your charts there are hundreds of chances to make a pip or 2 profit and back that by 100K trades to make the pips worth $100.00, My plan is to get enough equity doing $100 pips to move to $1000 pips.... Theres my plan.... Harness the power of the BABY SPIKE....

Mike...
I would better suggest what FT said in his post, just beware of the wild spikes. If you can't cut your losses shortly and quickly or don't have a plan to, you can wipe hundreds of winning trades in just 1 losing trade in which the market spiked the pip down, you bought, and the market never looked back.

Thanks,

Nader
  • #13
  • Oct 19, 2005 7:47pm Oct 19, 2005 7:47pm
I guess your right this way is not for the shy or timid, but if you can make thousands from hundreds, just make sure in the end you always get your hundred back. That way your only losses were your winnings and not your rent or food money.... Dream it or do it, Doing it gets you there quicker


I'll keep everyone posted when I get my real account set up refco e-mailed me saying they are not going to take my money order so I got to open an account with another trader, delays delays.... but the demo keeps on a rolling


Mike...
***Building an EMPIRE one pip at a time***
  • #14
  • Oct 19, 2005 7:49pm Oct 19, 2005 7:49pm
Wish you had a great trading anyway

Thanks,

Nader
  • #15
  • Oct 19, 2005 8:02pm Oct 19, 2005 8:02pm
Yes its fun, very exciting expierence, but I dont want anyone to think I'm reckless with equity management. Right now I'm, learning to use the trailing stops, and other tools and so forth. I just need to figure out how many pips in the wrong direction am I willing to go before the trade gets termiated.. I'm figuring numbers now.


Happy trading.



Mike..
***Building an EMPIRE one pip at a time***
  • #16
  • Oct 19, 2005 8:11pm Oct 19, 2005 8:11pm
That's for sure a good right step towards continous success, and not just temp one

Thanks,

Nader
  • #17
  • Oct 19, 2005 8:35pm Oct 19, 2005 8:35pm
Quoting Gyva
Ok just to let you all know today I bought my first 2 books about currency trading. "getting started in currency trading by Michael D. Archer" and "Forex made easy by James Dicks" I stumbled onto Forex one day while typing in Investments on my yahoo search engine. I had played with penny stocks but never any success. Never being a chicken little I looked into Forex. I downloaded Refco's platform and starting watching the movement. I glanced at 1 min, 5 min, 10 min, so on charts to make sure nothing major had happened recently, like a 50 pip spike or so forth, I wanted to get in while the market was "normal" if that can be said. I do all my trading on the tick chart once I make sure nothing crazy has happend recently. I look for baby spikes where the market will move more than one pip in one tick, Now you got to be ready! you have to have your buy box ready to go to where all you have to do is click and its bought or closed, if you have to go through a series of clicks your going to miss it. On your tick chart watch, and just stare at it before you make a move for about 10 minutes. when you see a baby spike drop buy instantly then get your close box ready for the baby spike thats going to happen in a up movememnt and click close, dont be greedy take a pip or 3. But doing this you can play and play and play with no losses look at your charts there are hundreds of chances to make a pip or 2 profit and back that by 100K trades to make the pips worth $100.00, My plan is to get enough equity doing $100 pips to move to $1000 pips.... Theres my plan.... Harness the power of the BABY SPIKE....

Mike...
Mike, please don't trade the "baby spike" with real money. I'd hate to see you lose it. It is okay to enjoy playing it on demo, but for live trading, it is simply not going to work. Over the long haul, you will lose all your money.

Do you have a kitchen table with one short leg? If so, you can use the Forex made Easy book to prop it up. This forum is the best "forex book" you will find anywhere. Now all you need is to learn the foundational basics of trading. Do a search on this forum for Merlin's book list, which contains everything you need to know to become a consistently profitable trader. Start with the book "Market Wizards".

I'm not being mean, really I'm not. I'm glad you are excited about forex, and you should be 'cause there is lots of money to be made in it. But not from the random noise of tick charts.

Wishing you all the success you will deserve after all the heavy reading and hard study you are about to do for the next 2-3 years.

Dial
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  • #18
  • Oct 19, 2005 8:44pm Oct 19, 2005 8:44pm
market wizards huh? I'll look for that one next. I went to barnes and nobles (a on hour trip for me to Boise our capital). I live in a tiny town about 10,000 folks so on my trip up there I bought the only 2 books I saw on forex, I bet they are better than nothing... one was $30 one was $20 a small small price for such a great investment. I really am a beginner I understand the up down line chart... and thats about it. these books will hopefully let me understand moving averages better and some of the other charts, in a nut shell I dont know how my tools work!!!! they are there to help me but trying to nail a screw in isn't going to work, anyone got a screwdriver I need to cut this board! LOL..... I will look for market wizards next time I'm on Ebay or up in Boise....

Thanks for the positive encourgement folks.


Mike...
***Building an EMPIRE one pip at a time***
  • #19
  • Oct 19, 2005 8:46pm Oct 19, 2005 8:46pm
Quoting diallist
Do you have a kitchen table with one short leg? If so, you can use the Forex made Easy book to prop it up.
Hey Dial, what if I have the book and don't have the table??? Where can I get one???

Thanks,

Nader
  • #20
  • Oct 19, 2005 8:57pm Oct 19, 2005 8:57pm
Quoting Gyva
market wizards huh? I'll look for that one next. I went to barnes and nobles (a on hour trip for me to Boise our capital). I live in a tiny town about 10,000 folks so on my trip up there I bought the only 2 books I saw on forex, I bet they are better than nothing... one was $30 one was $20 a small small price for such a great investment. I really am a beginner I understand the up down line chart... and thats about it. these books will hopefully let me understand moving averages better and some of the other charts, in a nut shell I dont know how my tools work!!!! they are there to help me but trying to nail a screw in isn't going to work, anyone got a screwdriver I need to cut this board! LOL..... I will look for market wizards next time I'm on Ebay or up in Boise....

Thanks for the positive encourgement folks.


Mike...
Mike, I like your attitude. I also like how graciously you accept constructive criticism. Looks like your humor is similar to mine (did I just hear everyone on the forum groan?) I hope you'll hang around for a while. The members of FF as a whole enjoy helping newbies learn. We understand when newbies fall down, cuss, get up and fall down again, but with decreasing frequency as time passes. We love watching newbies grow into successful traders almost as much as we love helping them do it. So hang around Mike, you are in the best forex forum on the net. Period.

By the way, Forex made Easy is an OK read for an absolute beginner to learn the basic terminology. Just do yourself a favor and swear right now you'll never sign up for the Forex Made Easy program. MAJOR waste of money.

Dial
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