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250 Bucks to One Million Dollars

  • #1
  • First Post: Edited 3:40pm Mar 29, 2011 3:17pm | Edited 3:40pm
Hi. I've always been fascinated by this concept so I'm going to go for it. Imagine having a trading record that charted $250 >>> $1M to show potential clients, LOL. Now that would be a powerful tool.

I'm not going to talk about daily returns or weekly goals. I've been trading long enough to know that trading, especially forex trading, is pretty volatile. In my "real" trading, I can go days or even weeks where I chop along with one pair and then make a pile of money in 6 to 12 hours.

I am a swing/position trader mostly. I do venture into the world of scalping from time to time. Well, my new challenge starts here....
"Timing Is Everything. Really I Swear It Is"
  • #2
  • Mar 29, 2011 3:29pm Mar 29, 2011 3:29pm
Here is snapshot of an old account I had to compete in the mini contests. The contest was discontinued a while ago but I like to have multiple accounts so I kept it open and it seems to be the perfect account to try this.

Server: MetaTrader4 | Type: Individual | Status: Live | Leverage: 50 : 1 | Size: Mini
Statement Date:3/28/2011
Deposit/Withdrawal:$0.00 USD
Equity:$291.67 USD
"Timing Is Everything. Really I Swear It Is"
  • #3
  • Mar 30, 2011 1:07am Mar 30, 2011 1:07am
Good start to the project. I caught most of the move down from 1.4125 and I've now reversed and bought the euro from 1.4075. I'm waiting to get my buy signal for the pound to add a new position and up the leverage.
"Timing Is Everything. Really I Swear It Is"
  • #4
  • Mar 30, 2011 2:25am Mar 30, 2011 2:25am
Quoting TexasforEX
Good start to the project. I caught most of the move down from 1.4125 and I've now reversed and bought the euro from 1.4075. I'm waiting to get my buy signal for the pound to add a new position and up the leverage.
Yep, got the signal to buy cable.

.4 mini lots from 1.6040 & .5 mini lots euro from 1.4075
"Timing Is Everything. Really I Swear It Is"
  • #5
  • Mar 30, 2011 11:00pm Mar 30, 2011 11:00pm
Cable stopped right on the 4HR 200 ema. This doesn't surprise me at all. Whether ....

A. price chops along between 16020 and 16110 and I hold longs into NFP

Or

B. price breaks 1.6110 today and I take profits sometime before NFP

I am still holding onto my long cable from 1.6040 for now.
"Timing Is Everything. Really I Swear It Is"
  • #6
  • Apr 3, 2011 10:44pm Apr 3, 2011 10:44pm
Quoting TexasforEX
Cable stopped right on the 4HR 200 ema. This doesn't surprise me at all. Whether ....

A. price chops along between 16020 and 16110 and I hold longs into NFP

Or

B. price breaks 1.6110 today and I take profits sometime before NFP

I am still holding onto my long cable from 1.6040 for now.
Well, NFP is in the books and my mini account is still in the black, barely. I was so pissed because I had closed out my euro longs for this account and was flat going into NFP. I took longs around 1.4100 but closed them out at 1.4075 because I overleveraged, only to see price bounce hard off 14050. Arg, I blew it. I'm not used to having such a small amount of margin to work with

After I closed up this book on Friday, my account balance was at 312.20. Profit is profit but it could have been much better. I still won't post a screen shot of this account because my photoshop program isn't working correctly. I can't crop out the account number and then save it. Everytime I crop it out and save the jpg, it doesn't save the file correctly. I'm trying to sort it out but I had my 30th birthday last week and didn't get around to it.

I've started this week by opening up a small (.1 microlots) euro long @ 14220 and will add if we dip a bit lower. I've also got an aussie short (.15) & a eur/aud long (.3).
"Timing Is Everything. Really I Swear It Is"
  • #7
  • Apr 5, 2011 10:39am Apr 5, 2011 10:39am
Let's see here...

My aussie short got stopped out in profit @ 10338..
I closed my eur/aud long for small profits

And right now I've got multiple euro long positions, total leverage .7 mini lots
at an average price of 1.4194

My account balance is $327.44 with about 14 bucks in floating gains..

OK, I've got a bit of time now. Let's see if I can get some screenshots of this account.
"Timing Is Everything. Really I Swear It Is"
  • #8
  • Apr 5, 2011 10:51am Apr 5, 2011 10:51am
Here it is..
Attached Image (click to enlarge)
Click to Enlarge Name: miniaccountapril3_thumb.jpg Size: 168 KB
"Timing Is Everything. Really I Swear It Is"
  • #9
  • Apr 5, 2011 3:25pm Apr 5, 2011 3:25pm
Full profits taken on euro longs @ 1.4220.

Account total stands at $345.53
"Timing Is Everything. Really I Swear It Is"
  • #10
  • Apr 7, 2011 7:53am Apr 7, 2011 7:53am
Short taken on eur/gbp at an average price of .8761 (.85)
"Timing Is Everything. Really I Swear It Is"
  • #11
  • Apr 7, 2011 11:42am Apr 7, 2011 11:42am
I think a yen cross just gave a serious buy signal. Can anyone guess which one it is?
"Timing Is Everything. Really I Swear It Is"
  • #12
  • Apr 8, 2011 12:39am Apr 8, 2011 12:39am
Quoting TexasforEX
I think a yen cross just gave a serious buy signal. Can anyone guess which one it is?
The answer would be Aud/jpy

Closed half for about 65 pips. Account balance is closing in on $400...
Attached Image (click to enlarge)
Click to Enlarge Name: miniaccountapril4_thumb.jpg Size: 146 KB
"Timing Is Everything. Really I Swear It Is"
  • #13
  • Apr 8, 2011 3:13am Apr 8, 2011 3:13am
nice work!
  • #14
  • Apr 9, 2011 3:02pm Apr 9, 2011 3:02pm
Quoting FXForLife
nice work!
Thanks for reading my thread. Appreciate the kind words.


Quoting TexasforEX
Short taken on eur/gbp at an average price of .8761 (.85)

Well this trade went straight to cr@p. I got stopped out @ .8806 Friday morning.
"Timing Is Everything. Really I Swear It Is"
  • #15
  • Apr 11, 2011 12:58pm Apr 11, 2011 12:58pm
After doing well scalping around with cable all day,

I've gone long aussie/yen @ 88.92.
"Timing Is Everything. Really I Swear It Is"
  • #16
  • Apr 11, 2011 4:58pm Apr 11, 2011 4:58pm
Quoting TexasforEX
After doing well scalping around with cable all day,

I've gone long aussie/yen @ 88.92.
whats your TP Tgt on this one?
Bomi
  • #17
  • Apr 11, 2011 6:09pm Apr 11, 2011 6:09pm
Quoting behman8850
whats your TP Tgt on this one?
Bomi
I'm more concerned with seeing my stops get avoided for now. But, a rough profit target is around 92.00.
"Timing Is Everything. Really I Swear It Is"
  • #18
  • Edited 9:29pm Apr 11, 2011 8:44pm | Edited 9:29pm
Quoting TexasforEX
After doing well scalping around with cable all day,

I've gone long aussie/yen @ 88.92.
Added a bit more long @ 88.12.

Avg entry price around 88.65.

And I'm out here @ 87.78, for a big loss.
"Timing Is Everything. Really I Swear It Is"
  • #19
  • Apr 12, 2011 10:58am Apr 12, 2011 10:58am
I've managed to pare my losses today. I caught the majority of the eur/gbp move up and I've scalped some small gains shorting cable.

Account balance stands at $350.19
"Timing Is Everything. Really I Swear It Is"
  • #20
  • Apr 12, 2011 11:11am Apr 12, 2011 11:11am
fun and inspiring read!
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