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Your Account Stories

  • #1
  • First Post: May 14, 2009 10:07pm May 14, 2009 10:07pm
Just curious as to who's had some very rapid growth in your account. Reading the fxcm micro challenge it seems some people have had some amazing months (or maybe only one)....I donno anyone who's made 1000% a month for a long period of time.
I turned 6,000 into 13,000 in a week and then to 2,000 two days later.
Let's hear some stories.
  • #2
  • May 14, 2009 10:56pm May 14, 2009 10:56pm
Bro I now realised that forex should be seen first as a game of making more pips.If you can make pips and repeat the process then the money will surely come.I finally realise that risking much money will eventually send me out of the game.Make more pips and money will come.For the last two weeks since 2007 I have been making pips progressively and my account balance has given good positive slope over time steadily.I think that is what matters.You may check the curve below if it matters to you.That is my account curve for now.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 6 KB
we cannot succeed without a well defined risk management.
  • #3
  • May 30, 2009 4:16am May 30, 2009 4:16am
Hi Isubeano,

Can you share your system out, as to help those that haven't earn money from forex yet, just like me.

Quoting lsubeano
Just curious as to who's had some very rapid growth in your account. Reading the fxcm micro challenge it seems some people have had some amazing months (or maybe only one)....I donno anyone who's made 1000% a month for a long period of time.
I turned 6,000 into 13,000 in a week and then to 2,000 two days later.
Let's hear some stories.
  • #4
  • May 30, 2009 4:28am May 30, 2009 4:28am
Quoting lsubeano
Just curious as to who's had some very rapid growth in your account. Reading the fxcm micro challenge it seems some people have had some amazing months (or maybe only one)....I donno anyone who's made 1000% a month for a long period of time.
I turned 6,000 into 13,000 in a week and then to 2,000 two days later.
Let's hear some stories.

Try this. Repeat what you have been doing but whenever your account is above 6000, transfer the money out or to another account
Don't add money to account till account is blown to zero.
See if you have improved and ask why?
You should discover the mistake that kill most traders.
  • #5
  • May 30, 2009 6:06am May 30, 2009 6:06am
Tjsun,

I use support and resistance as my main trading strategy with 18-20 to 1 leverage for swing trades looking for a couple hundred pips.

I daytrade gbj with 100 to 1 leverage and scale in 2-3 times every 10-15 pips against me looking for 15 pips or so.
Risky with high leverage, but scaling in and out helps reduce risk and i follow the trend.


Highway,

I"m slightly confused.
Say I have 1000 in an acct. By the end of the week it's 1500...so I take the 500 out and start a new acct? then repeat it?
thanks for the suggestion.
I finished the month almost 60% (compliments of my last usdjpy short thurs).
  • #6
  • May 30, 2009 9:46am May 30, 2009 9:46am
Quoting lsubeano
Just curious as to who's had some very rapid growth in your account. Reading the fxcm micro challenge it seems some people have had some amazing months (or maybe only one)....I donno anyone who's made 1000% a month for a long period of time.
I turned 6,000 into 13,000 in a week and then to 2,000 two days later.
Let's hear some stories.
lsubeano, you are risking far to much with your system, no system should have a drawdown period of almost 90%! FOREX is not a get rich quick scheme. If it were that easy everyone would do it, it requires time, patients and dedication! You should only be risking 3% of your account at any 1 time, irrelevant how many trades you have open. That way if you do incur a losing period your account will survive!! You would have been better off going to the casino and putting it all on black
  • #7
  • Last Post: May 30, 2009 1:15pm May 30, 2009 1:15pm
Quoting welshguy2000
lsubeano, you are risking far to much with your system, no system should have a drawdown period of almost 90%! FOREX is not a get rich quick scheme. If it were that easy everyone would do it, it requires time, patients and dedication! You should only be risking 3% of your account at any 1 time, irrelevant how many trades you have open. That way if you do incur a losing period your account will survive!! You would have been better off going to the casino and putting it all on black
I dunno. I agree that you shouldn't risk very much. But I also think that you forex can be a get rich scheme for me. About 4 years ago, I started Forex with a $250 mini-account. Now, I consistently make on average about 15-20k a month. Now is about $200k a year, rich. Maybe not for some people. But for a 'statistic' college dropout like me, it is. I think 4 years is a pretty quick timeframe to be earning so much money. And my income will only go up as account gains and I risk more.
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