First withdrawal - what a feeling!!!

Last week, I made my first withdrawal ever of $500. What a feeling!!!

Now I plan to withdraw $500 weekly. For the coming week, I need to make $300 more before I meet my plan.



Wish me luck

Congratulations!

Stay focus, patient & disciplined, & for sure profits will be coming in consistently...

Also, i hope u are not "strict" with your weekly withdrawal plan...
sometimes, u will meet your target ($500 target), sometimes it wont, sometimes it will exceed your ($500) target. In short, u should have a target/plan BUT be flexible at the same time, whenever necessary.

Good luck!

can i ask what sort of risk management u are using to achieve this return..i ask cause im gonna have to do something similiar as im likely to lose my job anyday..its nice to see your doing it..

nAV,
i think YOU can easily do this in a mini account, a little slower in a micro acct., & much much easier in a standard acct.

but, let's hear it from the thread starter him/herself.

hi Guys.

my target is 100$ a day
the account is a standard account with leverage of 1:500.

Keep it up...u will get there but not always will u get to withdraw the 500$ when market is slow, but if that is ur main target u can stay focus to it...
trade wisely...

hey don..my mv friend very nice of you to drop by. thanks for the advice. well, i need another $100 to meet my weekly target. normally the last $100 is so tricky for me. i think i need all the luck i can get.

wish me luck my friend.

I made this journal when I was about 2 yrs into trading. I guess its kind of an ego trip.

Regarding the account, it has been long been blown away. In fact,after that, there were several others account of the same size, which has similar story line. Profitable initially and promptly blown away.

I think I lost between 10k to 15k, which is equivalent to around 50k in my country. This is a huge sum to me as well as to lot of people. People that I met, always shake their head upon hearing my losses. So I stopped trading completely mid 2010 and focus on my day job. But, old habit dies hard. So I started to look into Forex again late 2013.

I think I should make a record of my trade and what is better place than here. I am going to post my trade with chart as and when it happens. I hope by doing this, I may get comments from others that will lead to improvement in my trading skills and pshycology.

So, until the next trade

Hi Arhemsi

Reading your post is quite eerie - could have been reading about myself!
Almost exactly the same experience as you. In the end one starts to think that the market is out to get you and in a way it is of course - if you're winning money someone else has got to losing. Thus David is just not going to fell Goliath every single time I'm afraid.
Firstly one's trading strategy has to be 100% sound. Even then - a "perfect" trading strategy is probably only going to result in perhaps an 80% win ratio. The real key to success is not emptying one's account or severely depleting it with those 20% of trades that one is surely going to lose on. That's the psychological bit and I think it's where the vast majority of small traders "bite the dust". MM is the "holy grail" and over leveraging is the quickest way to throw one's money away. One has really GOT TO take emotion out of trading and treat it like a business. Losses then just become part of the whole business strategy. Sounds boring doesn't it? Yet if one doesn't make it really boring, one is then gambling and when you start gambling there is only one outcome.

Hope this helps a bit!
Regards
JM

I totally agree jm, MM is the Holy grail. With MM, you can walk away from the trade knowing well that if the trade goes against you, you could only lose so much of the account.

Now, I am attaching GU weekly chart.



I am thinking of BUY on market open. SL at the low of previous week and open TP hoping to reach the 50% fib line. Of course, strictly sticking to MM. I am sure jm, your opinion will be of some importance to me . Tks