2010 Journal Experiment: Average 15-30% Per Month With Minimum Draw Down.

2010 Journal Experiment: Average 15-30% Per Month With Minimum Draw Down.

Here's the ground rules.

1) This is my journal so please don't post in it. If you have any questions you can send me a PM or an email message. Don't ask me what method I'm using, what currency pairs I'm trading, tell me that what I'm trying to achieve is impossible, etc... I won't respond. This journal was created to simply document this experiment and have a little fun.

2) I'll try and post updates daily, but I won't guarantee it. If you email me or send me a PM I'll try and respond. Again, there's no guarantees.

3) I'll take snapshots of myfxbook account and post here. myfxbook does have a private option, but even with the private option there's information that I don't want to share just yet. This may change depending on what features myfxbook adds.

4) This is a live account that had two substantial withdrawals in early 2009. This account will now be used for this experiment. Like I said, it is a live account however it's not my primary live account (that pays the bills). I trade my primary account a little different, but I still average 12-15% per month.

5) I'll disclose my starting balance, ending balance, and perhaps a few other details on or before December 23, 2010. My methods definitely require a great deal of patience, but the results can be phenomenal.

6) I'm not selling anything now or when this experiment is over. However I may share this method.


So will this experiment be a success or will it blow up? Pull up a chair and watch as the 2010 Journal Experiment: Average 15-30% Per Month With Minimum Draw Down unfolds.

Here's how December 2009 ended.

Here's how January 2010 started out. A nice 3.25% return when the markets opened up on Sunday after the long holiday.

Here's the update for January 4, 2010. A nice little % increase to the account. Up 9.51% for January 2010 now.

I firmly believe that most new and experienced traders over trade. They get so use to demo accounts or fx simulation that when they move to a live account they're already programmed to over trade. Many traders trade to trade. Just like pulling the lever on the one arm bandit.

Sure it takes patience to find that perfect trade, but patience is one of the key elements to being a successful trader.

I'll be posting more updates this evening. If you're not subscribed to this thread please do and follow my progress on this experiment through 2010. Thanks.

So far...I'm up 11.82% for January 2010.

Added 2.31% today for a total of 11.82% for January 2010. For those that are still struggling with their trading, I can't stress "patience" enough. I only made one trade today. See image below.

Well, I'll get another update posted later today. Pull up a chair. The weather has been cold here on the MS Gulf Coast, but the fireplace is warm.

Here's the image. I had a couple of errors 1) I should've took my profit when I had it and 2) I should have had my stops a little tighter than I did. I would've added about 1% to my account, instead I took a -8.46% hit. Still up +3.36% for January though.

Tune in tomorrow when we do it all over again.

Losing is part of trading, as a trader, this is something you have to deal with. No worries though, still on target for a nice January return.

Remember I'm shooting for an average monthly return of 15-30% for 2010.

Well yesterday was my wife's birthday so I didn't get to watch the charts as much as I often do, no excuses though. We have dinner plans with family tonight.

Made some decent pips on my primary account (the one that pays the bills) last night during Frankfurt and London and earlier this morning (added 6.2% to the acct). That doesn't count here though.

I'll try and post an update this evening when we get back from dinner, probably be a heckuva lot later than my normal update though.

Throw a log in the fireplace, the local weatherman is calling for sleet and possibly snow tonight! We're not suppose to get that kind of weather this far south!

If you're not subscribed to this thread, please subscribe so that you're instantly updated via email when I make an update.

Well, here's the update for January 7, 2010. Not exactly the way I intended things to start, but it's reality.

On a side note: Turveyd thanks for the subscribe you REBEL (you posted in my thread)! I set the permissions as high as could "11+ vouches" to prevent most posts, had my buddy Twee remove your post. Sorry dude, just want to keep this thread clean so my experiment is easy to follow.

Have a fantastic weekend guys.

I have no update for Sunday, January 10th, 2010. I'll have an update either Monday or Tuesday. Happy trading.

Update: I haven't been trading this account much, instead I have been trading my primary trading account. Did have another day of set backs on the account though.

Finding it difficult to find time to trade two different styles on two different accounts. In fact, you can see that it kicked my but a little bit.

I'll start trading this account again in the coming weeks. Gotta pay the bills though so the primary account takes precedence.