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Buildcity's Trading Journal

  • #1,141
  • Edited Oct 30, 2010 12:36am Oct 29, 2010 11:54pm | Edited Oct 30, 2010 12:36am
Been quiet for a week, cos I wanted to be 100% clean mind set for an aggressive trial.

The following is what I've done since 22 Oct 2010, a crazy 6 days trading which brought me from the lowest to highest, then back to starting point!!

The below compunding effect would make you crazy, I wonder that whether anyone can achieve this goal within 6 months ~ from deposit $300 to $10,000 balance


!
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  • #1,142
  • Edited 12:36am Oct 30, 2010 12:03am | Edited 12:36am
A $300 deposit to play aggressive trade, we really need a high leverage a/c to drive your entries otherwise no room for different strategy.
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  • #1,143
  • Edited 12:36am Oct 30, 2010 12:13am | Edited 12:36am
1st 3 days result (22, 25 &26 Oct) end with $556
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  • #1,144
  • Edited 12:37am Oct 30, 2010 12:21am | Edited 12:37am
The mid of 27 Oct, I add up my net balance over $600. Haha, I succeeded to double my a/c according to the compounding trading method in 3.5 days.

But then disaster came. At that moment, I put 3 mini lot per trade (around $3/pip); emotion did drive my mind, i.e. over confident and dont want to lose!!

Then losing trades one after one; the most horrible thing was my a/c balance was down to only $100+.......................
  • #1,145
  • Edited 12:37am Oct 30, 2010 12:25am | Edited 12:37am
Really didnt want to lose again. Stop play for half day. Then have a good sleep. Forget about those losses and stick to the compounding method again, 1 mini lot, trade 1 by 1...........

The balance of 29 Oct 2010:
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  • #1,146
  • Oct 30, 2010 12:35am Oct 30, 2010 12:35am
Well, next trading day is Nov, my a/c balance is back to initial stage ($300+), see what can I do for another week.

PS -
1. That is a really aggressive trading method, no confident dont trade like this;
2. When we trade like this, dont focus on the $/pip, only focus on pip hunting;
3. dont let the emotion drive you, if so happen, stop trading and do something else.
4. Stick to your winning method, the result would be much better

To be update a week after..........

Happy trading to all

Eric
  • #1,147
  • Oct 30, 2010 4:00am Oct 30, 2010 4:00am
Good luck mate.

When you finished moving that boulder out of the road, you will find a bag of gold under it.

You are the only one that can make your dream come true.

  • #1,148
  • Oct 30, 2010 4:34am Oct 30, 2010 4:34am
Quoting matlobien
Good luck mate.

When you finished moving that boulder out of the road, you will find a bag of gold under it.

You are the only one that can make your dream come true.

Cheers Mat,

the coming week are loads of challenge, we got many major news within a week so take care and trade safe!!

Eric
  • #1,149
  • Oct 30, 2010 5:30am Oct 30, 2010 5:30am
Not a promotion, but this video is pretty good

Inserted Video
#!
  • #1,150
  • Oct 30, 2010 1:06pm Oct 30, 2010 1:06pm
Great video Build, I have faith your trading will turn back for the better you know what to do. That maybe one advantage the CFTC rules that changed in the U.S. may help, we could never take that high a risk of a trade anymore. $300 equity barely trade $1 now 50:1 leverage max.


I rememebr the days trade $1 with $35 account equity 400:1 hehe Things change , and we just have to change with them.

Just keep your head clear and rules in mind.. We will see you in the winning circle soon.


He who loses the least wins at this game.. and as is said many times . Take care of your losses and the winners take care of themselves.

Have a great weekend Ken.
Good Trading To All ; Ken Lee
  • #1,151
  • Oct 31, 2010 8:33am Oct 31, 2010 8:33am
Tks Ken,

Yes, no more these days for brokers with higher than 1:50 in US; the above trial a/c is a UK broker whose 1:500 leverage can allow my multi-entries strategy. If I made >$5000 from this $300 (If I can) I would be happy to transfer those surplus fund back to my core one....... one day

hehe, hopefully a positive update next week.

Happy trading & good week end to you too.

Cheers
Eric



Quoting Kenneth Lee
Great video Build, I have faith your trading will turn back for the better you know what to do. That maybe one advantage the CFTC rules that changed in the U.S. may help, we could never take that high a risk of a trade anymore. $300 equity barely trade $1 now 50:1 leverage max.


I rememebr the days trade $1 with $35 account equity 400:1 hehe Things change , and we just have to change with them.

Just keep your head clear and rules in mind.. We will see you in the winning circle soon.


He who loses the least wins at this game.. and as is...
  • #1,152
  • Edited 12:57pm Oct 31, 2010 12:51pm | Edited 12:57pm
Hi, it's been a long time i didn't pay visit to your thread, i read your post about turning $300 to $10.000. So I just wanna share this statement from one of my master's student. It really inspired me so i hope it may inspire you too.


Andra
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  • #1,153
  • Oct 31, 2010 8:01pm Oct 31, 2010 8:01pm
Quoting andrafx
Hi, it's been a long time i didn't pay visit to your thread, i read your post about turning $300 to $10.000. So I just wanna share this statement from one of my master's student. It really inspired me so i hope it may inspire you too.


Andra
Pretty good
  • #1,154
  • Oct 31, 2010 8:55pm Oct 31, 2010 8:55pm
Quoting Buildcity
Been quiet for a week, cos I wanted to be 100% clean mind set for an aggressive trial.

The following is what I've done since 22 Oct 2010, a crazy 6 days trading which brought me from the lowest to highest, then back to starting point!!

The below compunding effect would make you crazy, I wonder that whether anyone can achieve this goal within 6 months ~ from deposit $300 to $10,000 balance


!
I went from $48 to $468 in 30 days with one losing day. started with 20 cent pips and made it to $1.30 a pip then started freaking out.

Been back to 10 and 20 centers last 6mo or so. (and demo)

  • #1,155
  • Oct 31, 2010 9:49pm Oct 31, 2010 9:49pm
Quoting Mightyzoner
I went from $48 to $468 in 30 days with one losing day. started with 20 cent pips and made it to $1.30 a pip then started freaking out.

Been back to 10 and 20 centers last 6mo or so. (and demo)

Yeah, that's what I'm thinking, $1 or $2/pip is the usual play which I traded in last few months. while the lot goes to $3/pip I got emotional and the trade management becomes messy. May be I should slow down the increment by adding $0.2/lot after the commencement from $2/pip.

see what's the progress in this week (could be a tough week!!), tks for the visit anyway.

Cheers
Eric
  • #1,156
  • Nov 1, 2010 2:26am Nov 1, 2010 2:26am
I'm lucky enough to get back in stage 2 after 8 trades this morning
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  • #1,157
  • Nov 1, 2010 4:46am Nov 1, 2010 4:46am
Everything is relative I think.

I stupidly started out with a very large account and traded at 1.5%. Even though the risk was acceptable, the amounts involved were difficult for me to deal with - especially as I really had no idea what I was doing! £350 risk per trade.....madness when I look back at it.

I eventually swallowed my pride and took it right down to a level that didn't make my head throb when I placed a trade. When I started to get some consistency, raising the level back up again was not hard to do. I didn't allow it to change the way I traded in any way, just follow the plan, watch the price action and then check your balance at the end of the trade to see where it's at. That's what worked for me, trying hard not to look at the £'s or $'s, just keep focussed on what the price action was doing. Never risking more than 2% allows me to know that i'll be ok, even in the worst sort of run thinkable.

Best of luck Eric, i'm sure you'll nail it!
  • #1,158
  • Nov 1, 2010 7:43am Nov 1, 2010 7:43am
Quoting Buildcity
Been quiet for a week, cos I wanted to be 100% clean mind set for an aggressive trial.

The following is what I've done since 22 Oct 2010, a crazy 6 days trading which brought me from the lowest to highest, then back to starting point!!

The below compunding effect would make you crazy, I wonder that whether anyone can achieve this goal within 6 months ~ from deposit $300 to $10,000 balance


!

Actually Eric that portion is suppose to be done in 3 months,

But it is only 20 pips a day. Risk is a bit high but tapers off. I think if one keeps his head and doesn't get overconfident it can be done. I am working on a similar idea but have to adjust now for new leverage rules. Plus Mine I am thinking of losses as well if you drop down half the pips from a new level then lower the risk to the previous level,

example: you start with $1 at level one. you make your 100 pips so you increase to $2 , But you take a few bad trades and you lose 50 pips so with my idea I revert back to $1 now till I go over the 100 pip level again. So preserve equity. at all cost , even if I am in a trade I will take that extra away.

Just my two cents .. Nice Trading today Ken
Good Trading To All ; Ken Lee
  • #1,159
  • Edited 2:27pm Nov 1, 2010 10:56am | Edited 2:27pm
Attachment Here is a equity building idea I have come up with for my own use. Somebody asked me a question about it so had to make it real instead of in my head. LOL

It starts out pretty risky but with the small amounts we are trading , It is ok plus most new traders are going to try that anyway ,, So a good lesson if they crash and burn for a few $$ . But once you hit step 9 ( proper risk is in place. This is similar to the Forex Freedom plan, But i suggest a loss prevention and I am not counting pips but $ levels. Also I recomend staying with minis so you can scale in smaller amounts as large jumps can trigger bad emotions and keep you from pushing the button.


Trade well ken
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Good Trading To All ; Ken Lee
  • #1,160
  • Nov 1, 2010 11:24am Nov 1, 2010 11:24am
Tks Ken,

The coming week end is my revison, see whether I can combine those what I leart form you big guys into my style.

Happy trading

Cheers
Eric

Quoting Kenneth Lee
Here is a equity building idea I have come up with for my own use. Somebody asked me a question about it so had to make it real instead of in my head. LOL

It starts out pretty risky but with the small amounts we are trading , It is ok plus most new traders are going to try that anyway ,, So a good lesson if they crash and burn for a few $$ . But once you hit step ( proper risk is in place. This is similar to the Forex fredom plan, But i suggest a loss prevention and I am not counting pips but $ levels. Also I recomend staying with minis so you...
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