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Making the million

  • #1
  • First Post: Edited Oct 15, 2012 1:08am Aug 1, 2012 4:56am | Edited Oct 15, 2012 1:08am
Dear readers,

I might be familiar to some of you as the one with the most failures in trading.
That's not even a lie, I did more mistakes as most of you will ever make! But I don't want and won't give up and learned a lot about myself and how things are going on. So this time I will trade even lower leverage and start with another 1k account. I'm 38 now so by becoming 50 I want to have that million.

My style is some BWILC derivation and a mix of fundamentals and technicals. Leverage is much lower now, I usually trade 200 units for a 1k account.

More to come, especially as I'll try to make some kind of daily/weekly briefings.

Cheers!
  • #2
  • Aug 1, 2012 5:28am Aug 1, 2012 5:28am
Quoting Xaron
Dear readers,
I did more mistakes as most of you will ever make!
Cheers!
Sorry to disappoint you. But I do claim the title of the one who made the most mistakes in trading and within the trading industry

what is BWILC?
  • #3
  • Aug 1, 2012 6:18am Aug 1, 2012 6:18am
You people don't know what mistakes are until you've seen how many I've made!

Xaron good luck with your new project.

You share so much and never give up so you're sure to succeed!
  • #4
  • Aug 1, 2012 4:17pm Aug 1, 2012 4:17pm
Thanks guys! Nice to see honest people around here!

@logo: I've explained BWILC (Bird watching in lion country) here a bit: http://www.forexfactory.com/showthread.php?t=195287

Thanks Poocher as well!
  • #5
  • Aug 1, 2012 5:04pm Aug 1, 2012 5:04pm
I wish you much success on your journey. I hope that you are able to reach your goal.
  • #6
  • Aug 2, 2012 12:33am Aug 2, 2012 12:33am
I remember you!
  • #7
  • Aug 3, 2012 1:55pm Aug 3, 2012 1:55pm
First week is over and my account raised 7.5%. What a great start!

Best performers where Platin, Silver and the Dax.

Some words to my current positioning: I'm pretty bullish in Euro, commodities, bearish in USD and Yen. The USD will falter after the US elections, QE 3 will come and the US debts with all obligations are impossible to be paid back without printing money. This will devalue the (currently strong) dollar even more. Silver will hit $75 sooner or later, Gold will raise above $2000.

I know the EU has its own problems BUT a lot of counter measures are already in progress, while I don't see anything in the US.
  • #8
  • Aug 31, 2012 2:37pm Aug 31, 2012 2:37pm
First month is done, account ist up about 33%.
  • #9
  • Aug 31, 2012 2:50pm Aug 31, 2012 2:50pm
Great job Xaron!
  • #10
  • Aug 31, 2012 3:31pm Aug 31, 2012 3:31pm
Quoting Xaron
First month is done, account ist up about 33%.
That is awesome!! I'm going to keep my eye on you haha. At least I'm not the only one!!

Have a great weekend!
Argue for your limitations, and sure enough, they're yours. Richard Bach
  • #11
  • Aug 31, 2012 3:34pm Aug 31, 2012 3:34pm
Very interesting thread xaron.

While you may make the most mistakes i am king at going short or long at the bottom / tops of reversals.

Last time i took a break from trading was when I was bullish on the euro as I rode my account up 75% then remained bullish as it fell off a cliff, going long and hitting stop losses all the way down.

My latest feat was shorting the eur/usd around 1.207 lol.

This time im also using lower leverage, and going for more of a position trader standpoint with some scalping im between (hey it would get boring otherwise!)

Still shorting the euro. Eventually it will return to sanity.
  • #12
  • Aug 31, 2012 3:57pm Aug 31, 2012 3:57pm
You should be able to get your million in under 3 years

If you can double your account every 3 months. That's only 7% or so every week. On an account starting at $1000, all you need to earn is $70
in the first WEEK

So what is stopping you?

Just trade when you are certain that your trade will be profitable.
No trading for fun.
When you earn 2% on a day's trade, QUIT
Next day earn 2% then Quit
Third day earn 2%, then QUIT

Now you get it
Don't go for the home run. Time is your edge
Never withdraw funds
  • #13
  • Sep 1, 2012 7:30am Sep 1, 2012 7:30am
Good Morning

ONLY as a suggestion, would you reconsider the # of trades you do in a day?

Perhaps you could envision the pair that has the best chance of earning a profit for the next hour/day and just go with that.
When a profitable trade is coming soon, go with most of your available margin, and stay on that page.
Sometimes the indicators will show, for example, that a pair is about to go up. But this changes after 5 pips and the pair goes down.
So leaving the page for a few minutes can turn into a loss.
If you were watching the mood change, you could get out even.

Just watching one screen is really boring, but you are there to make
money, so we have to suffer through it sometimes
  • #14
  • Sep 18, 2012 10:09am Sep 18, 2012 10:09am
Quoting Xaron
First week is over and my account raised 7.5%. What a great start!

Best performers where Platin, Silver and the Dax.

Some words to my current positioning: I'm pretty bullish in Euro, commodities, bearish in USD and Yen. The USD will falter after the US elections, QE 3 will come and the US debts with all obligations are impossible to be paid back without printing money. This will devalue the (currently strong) dollar even more. Silver will hit $75 sooner or later, Gold will raise above $2000.

I know the EU has its own problems...
Hi Xaron. I hope you're well. Keep up the good work and predictions. Mistakes happen...and I'm not ashamed to say I have made more of them than you
Not all sins are created equal
  • #15
  • Sep 19, 2012 9:17am Sep 19, 2012 9:17am
Thanks. So far September is pretty difficult for me. The drop of the oil price makes me wonder. Yes Saudi Arabia tell us they will increase their output but there are limitations. I smell manipulation here in front of a giant up move. Just think about Israel might attack Iran and I haven't any doubts they will...
  • #16
  • Sep 19, 2012 9:20am Sep 19, 2012 9:20am
Oh and don't forget the unlimited dollar printing by the FED.
  • #17
  • Sep 19, 2012 9:47am Sep 19, 2012 9:47am
Quoting Xaron
Oh and don't forget the unlimited dollar printing by the FED.
Never.
Not all sins are created equal
  • #18
  • Oct 5, 2012 6:11am Oct 5, 2012 6:11am
Good work Xaron. Never, ever give up.

Inserted Video


Good trading to you.
Gone to a better place
  • #19
  • Oct 5, 2012 8:36am Oct 5, 2012 8:36am
I won't. LOL
  • #20
  • Oct 7, 2012 5:40pm Oct 7, 2012 5:40pm
Hi,


The silver technically touched a lot of time the top, maybe will fall.
Why are you holding the 2x -7% positions? For me it is to risky.
I want to buy PATIENCE
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