From 10k to 1 million...

Thanks guys! Another good week for me. Started a bit tough but I could recover the losses.

Transactions from this week:

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GJ bro stay positive

Just a snapshot:

I load up silver, gold and everything I get.

Target for silver is 20.

http://www.xaron.net/dl/fx/2009/ib/account_040609.png

Keep up the good work.

Mixed week. Balance is up but NAV is down. Still in my comfort zone so no need to worry.

Transactions from last week:

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LONG EUR/USD? Why is that?

That's more an investment. I think we will see 1.45 before it goes down again. But I might be wrong. The low of my comfort zone is at 1.38. If we go below that I'll close some longs or hedge.

What strategy are you using? After this much time you should be well into 12-15k.

Interesting... Why should I exactly be at 20-50% gain after 5 month?

My strategy is mainly BWILC.

great results Xaron !

Not to say you should do what I say, but this is what I would do.

You need a goal per week. Maybe an average of 5% a week?

Account = $10,000
Leverage = 1:5 (meaning the max pos. with 10k balance is 50k, 5 mini lots)

Week1 - 5% = $500.00, or 100 pips x 50k trade, or 20 pips x 50k trade x 5 trades


Account = $10,500
Leverage = 1:5 still, so 50k trades

Week 2 - 5% = $525

And so on..

At balance of 12,000, you can now open up 60k trades and still be operating at a 1:5 leverage ... and now you go for 5% = $600 .. etc


5% per week starting with 10k is possible and if done, 1 million can be reached in about 49 weeks .. assuming you average 5% per week ..

Now you may have a good week and get like 10% .. some weeks -2% .. so 49 weeks give or take .. and this can be done in less than 5 positions per week ...

If you went long USD/CAD this week at 1.08 (i took it) and closed at 1.11 with a 50k trade, thats about $890, an 8.9% gain for the week.

Just an idea, but best of luck! It can be done!

Who is your broker? I would love to trade gold .. thanks

I trade with Oanda mainly. They have gold (XAU/USD) and silver.
But I use Saxo and MarketIndex as well...

Forex is a journey... It is good to have goals in mind, in this case it is 1 million in 10 years.

That is Xaron's goal, I find the word 'should' in this comment to be a little weird. You don't know how good of a month you might have or how bad, Xaron has lived through some DD and has pulled out ahead so far.

No offense, but I think a long term goal is a lot better than x% per day or x% per week because if you do that you are only setting yourself up for failure mentally. If you go one week, then two, then maybe even three or four with making negative gains or no gains then your psych will start to suffer.

All the same though the whole point of a trading journal is to watch how someone goes about their way in this diverse business. I don't think coming into a journal and saying that "You are doing it wrong this is how it should be done" is really the best idea to cultivate creativity, which is what becoming a successful trading is all about. If you trade the same as everyone else then you obviously will never be ahead because you trade the same way as the guy trying to take your money. You might win some and lose some but in the end you will end up breakeven at best.

Sorry to ramble in your thread Xaron!

There hasn't been changed so much this week. Still loading up Gold and Silver...

Transactions from last week:

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That has been a hard week for me...

Account:

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Transactions from last week:

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Recovered a a bit...

Account:

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