From 10k to 1 million...

Congratulation + RESPECT !
Xaron I think your platform is oanda, not marketindex - Right?
Because in the transaction field are differend descriptions, I see only market order and never limit orders. That means you not buying dip's by limit orders ?
You mentioned XWILC is using SL by larger positions now I saw it in the journal.
Good idea and I will implemente this in my BWILC style. Thanks for improving my learning curve.

deal2win

Good morning

Review

Friday was a bit of a ranging day and I closed out everything right above 1.50 in the Euro and left no positions open into the weekend. Just to recap: Earnings came in mostly better than expected and that did light some fire under the risk rally.


Analysis

So what now? I'm not that sure actually. We had a nice run the last weeks without almost any noticeable retracement. I'm a bit cautious now, especially for the Euro. Sure, there is still plenty of room to the upside and I think we might go up to 1.53/54 first but who knows? I don't. For now I'm long with a 1:1 in the EUR/USD and will look for signs of weakness. There are still too many traders already short in this pair.
In the Aussie I stay long as well as in the NOK and CAD. The first both currencies are quite solid, the NOK will see a rate hike next, which might push this pair further. The Aussie is headed for parity, even the RBA doesn't want to do anything against it which is a good sign to push this higher! The Loonie will see parity as well, but might go a but higher. I'll add shorts in this pair the way up.


Plan

Wait for some signs of weakness to enter a short in the EUR/USD. In general buy dips against the Dollar.


Open trades

http://www.xaron.net/dl/fx/2009/ib/o...ons_261009.png


Prices

http://www.xaron.net/dl/fx/2009/ib/prices_261009.png


Account Summary

Starting date: 08-Jan-09
Starting Balance: EUR 10,000

http://www.xaron.net/dl/fx/2009/ib/account_261009.png

Good morning

Review

Yesterday I wrote: We had a nice run the last weeks without almost any noticeable retracement. I'm a bit cautious now, especially for the Euro.
...
For now I'm long with a 1:1 in the EUR/USD and will look for signs of weakness.

Well we had that weakness yesterday and instead of going short I kept my long and added to it the way down. The Euro got hit hard and was pushed down to 1.4850 but this move wasn't followed in the Asian session but got bought again there...
I guess I should read my own stuff here. So what happened yesterday? Nothing special, just profit taking I think. Stocks went down and so did the currencies. Looks like the link between the stocks and the Dollar are still valid.


Analysis

What next? The question is: Is it over or just the begin? I don't think we'll see a trend reversal now even though it can go down to the 1.45/46 area easily. I don't think it will go much deeper for now. For me this is now a great dip buying opportunity but I started too aggressive yesterday by starring on an hourly chart. I'm pretty high geared now and will have to offload some positions if it drops again. The next support is 1.4850 for now, so I'll watch if this holds or not. Below that there is plenty of room down to 1.45.

Regarding the CAD I think this is a great buying opportunity as well as for AUD and NOK. Oil got hit hard the last days but this will be temporary.

Finally this drawdown is still nothing to worry about beside the fact that my leverage is too high.


Plan

Still buying dips and watching the 1.4850 support. If it breaks down, close some longs and book the losses.


Open trades

http://www.xaron.net/dl/fx/2009/ib/o...ons_271009.png


Prices

AUD/USD 0.9170
EUR/USD 1.4890
GBP/USD 1.6340
USD/CAD 1.0700
USD/CHF 1.0180
USD/JPY 92.00
USD/NOK 5.5950
Gold 1040
Silver 17.10
Oil 76.80
Dax 5640
Dow Jones 9870


Account Summary

Starting date: 08-Jan-09
Starting Balance: EUR 10,000

http://www.xaron.net/dl/fx/2009/ib/account_271009.png

Thanks and that is correct. I use both Oanda and Marketindex but for this project I use Oanda.


Indeed, I use limit orders very rarely. I should use them more often it's just I'm too lazy to use them...

Good morning!

Review

Ok, the 1.4850 support was blown away in the early NY session so I decided to book some losses to rebuild my longs around 1.48. I added a long in the EUR/GBP at 9044 and another long in the Aussie this morning after the drop at 9100. Dow closed almost unchanged yesterday but Asian markets are down.


Analysis

Technically 1.48 seems to give some support as it's the 50% retracement of the last upmove in the daily time frame. This is an important point now - at least for me - if this 1.48 will hold or not. There is not much resistance till 1.45 below...

Till now we are still in an intact up trend and move into the Dollar can still be considered as a simple profit taking thing and the fact that this correction was a bit overdue. I still see this as great dip buying levels even though I'm not that sure if we reach the highs at 1.50+ levels again in the next days. My first targets are 1.4920 in the Euro.

The Norge Bank will have a rate meeting today and the consens is that they will hike the rate 25bps. More important will be the meeting after that so if this will start a new rate hike circle or not. They might talk down the NOK a bit but fundamentally the NOK is one of my favourites right after the AUD.


Plan

I'm now really high leveraged (but have some stops at BE) and will see if I can book some winners again. Would like to see 1.4920 again.


Open trades

http://www.xaron.net/dl/fx/2009/ib/o...ons_281009.png


Prices

AUD/USD 0.9120
EUR/USD 1.4830
GBP/USD 1.6370
USD/CAD 1.0660
USD/CHF 1.0200
USD/JPY 91.30
USD/NOK 5.5950
Gold 1040
Silver 16.70
Oil 77.20
Dax 5630
Dow Jones 9870


Account Summary

Starting date: 08-Jan-09
Starting Balance: EUR 10,000

http://www.xaron.net/dl/fx/2009/ib/account_281009.png

Thanks for sharing your strategy. Indead, very useful for my own learning!

Good morning!

Review

Woah, there was some heavy action the last days and the dip in the currencies was a bit deeper than I expected but finally stopped at the 1.47 support in the Euro. I've been too much leveraged actually (again) and that's why I had to offload some of my positions with a loss. Just note that this is something which shouldn't be necessary trading the pure BWILC style and remember that leverage is a double edged sword.

Right, so GDP came in better than expected. I thought it would come in weaker and the markets did price in such a drop but well, +3.5%. US is now out of recession officially. Believe it or not. The currencies and stock markets made quite a jump to the upside and so did my account.

I added more to my EUR/GBP long position at the low 8914 (that was a lucky shot!). I think it was a bit weird reaction seeing the GBP shoot up but not the Euro. I wonder about that because fundamentally the GBP is quite weak against the Euro.


Analysis

I don't buy that story about the out of recession thing and we will see further losses but I hope that this stupid link between stocks and currencies finally break up. That way bad news would be bad for both stocks and the Dollar - the way it should be.

Technically we're still in an uptrend. We might test the highs around 1.50 again but the air is already thin there. No question the better GDP might light some fire under the stock markets again and support the flow to higher yielding currencies but for how long is the question.


Plan

No changes, hang in the longs but watch the current support of 1.47.


Open trades

http://www.xaron.net/dl/fx/2009/ib/o...ons_301009.png


Prices

AUD/USD 0.9130
EUR/USD 1.4830
GBP/USD 1.6530
USD/CAD 1.0680
USD/CHF 1.0190
USD/JPY 91.30
USD/NOK 5.5950
Gold 1047
Silver 16.60
Oil 77.40
Dax 5590
Dow Jones 9920


Account Summary

Starting date: 08-Jan-09
Starting Balance: EUR 10,000

http://www.xaron.net/dl/fx/2009/ib/account_301009.png

Hi Xaron,

first of all - thx for visiting my website and leaving a footprint...

After a member there posted a link to this amazing thread - I spend quite some time here and studied all of your posts.

In my eyes you did really a great job so far and finally you've earned something after this bad start ;-) Hope, that you will keep this momentum and succeed with your goal to reach a seven figure cash amount. Still a long way to go. I'll keep my fingers crossed.

Forex is a topic I've never touched yet, but reading your and many other threads here, it has become an interesting topic for me and who knows - maybe I will spend some time to have a deeper look into it and give it a chance...

Wish you good luck !

In the meantime I'll enjoy the thousands of posts here and try to get something out of it for my own trading ...

regards, MB

Hi Xaron.......I guess we all had our excitment with eur/usd last week....My stop was taken out when I was away from the computor.....With the usd moving with the stock mkt, it's hard to predict any direction in this pair...guess its best to sit out this dance and wait for a better song ..............Hope it didnt put you down to much! ....... Keep up the good work................Howkra

Thanks guys, very kind of you!

I have some bad news (for me). I have to set this project on hold for a moment because I just need that money back for a while. So I can't proceed at the moment.

Sorry for that. But I'll continue with a much lower amount to stay in contact with the markets and will continue with my livetrading. I'll start a new thread for this and will see that I continue with my "briefings".

It's a bit sad but nothing to worry about it will just stretch the timeline unfortunately.

Thanks for understanding

Best regards - Xaron

P.S.: I'll revive this thread if I can continue.

That is bad news. Your thread is the only one I trusted to be 100% reliable. You have become a very good trader and you should continue to trade even with a 1000 euros account.
I am sure that you will someday trade your way to 1.000.000 euros.
Good Luck.

Don't worry man, I know things happens, hopefully you have the money and double it, we will be waiting for you again.

i hope you come back soon. good luck so far!

hOPe to see your new project soon, really appreciate your deomostrating of sucess

Xaron,

Good luck with whatever has set you back.

Looking forward to your return, you have a fantastic 'overview' of the market and I alway enjoy reading your analysis.

Dan

Thanks guys! No worry, I continue right now just with a smaller account. Will start a new thread and let this one rest for a while...

This is continued here:
http://www.forexfactory.com/showthread.php?t=204758

You did what we're all supposed to do. You earned some money, then pulled it out and used it for something. Way to go!

Hi Xaron......Sorry for the temporary setback.......We all forget that life continues to march onward and sometimes forces us to take a jog at the Y in the road.....But eventually with continued focus we can find our way back to the original pathway.......Just went through a time with need to remove funds in order to cover family illness....glad the funds were there to help!...........Wishing you all the best.....Please know that we are all there for you and looking forward to your speedy return to full time involvement in your pursuit...................Howkra

Judging by the way this guy was overtrading and overleveraged I believe he was margin called.

Trade safely