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  • #1
  • First Post: Edited Feb 10, 2013 12:28am Oct 30, 2012 1:15pm | Edited Feb 10, 2013 12:28am
I've been trading forex for the past 4 years - demo and live, but mostly demo - searching for the ultimate system that will make me rich! I can say without a doubt that such a system does not exist!

However, inspired by some very good threads on FF as well as my own research I have decided to get back to live trading. I don't have much, but I had $100 to invest in my future.

I am motivated and determined to make a success of this new account! To follow is my journey...

December 2012
As of December 2012 I've changed my strategy from Low Risk to High Risk and High Reward. I'm starting with $50. I am fully aware of Money Management and Risk/Reward, but for now I'm gonna have fun before getting serious again.... it's almost Christmas time!!!
  • #2
  • Oct 30, 2012 2:38pm Oct 30, 2012 2:38pm
good luck.

i know a trader who took $100 and now his account is at around $1400.

http://www.tradingarcade.com/
NocturnalFX is no longer offering commercial services
  • #3
  • Oct 30, 2012 2:45pm Oct 30, 2012 2:45pm
Quoting TPOTrader
good luck.

i know a trader who took $100 and now his account is at around $1400.

http://www.tradingarcade.com/
As long as you have the motivation anything is possible! Never loose focus of your dreams and goals - hence this thread...
  • #4
  • Oct 30, 2012 4:03pm Oct 30, 2012 4:03pm
Really like your idea.
  • #5
  • Oct 31, 2012 9:40am Oct 31, 2012 9:40am
Hi fxglider

What strategy are you using?

Have you checked out the magic breakout strategy? It uses the CCI in a clever way but I have come up with an even better idea with it. Instead of using the CCI 100 level, I use the 0 level and trade retracements. I find it works much better. See the EURUSD chart attached for what I mean!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 5min.gif Size: 16 KB
  • #6
  • Oct 31, 2012 9:51am Oct 31, 2012 9:51am
Good luck and good performance man. Taking a 100$ account is far better than trading on demo. Hope you do well
I will become the World's best at my own style
  • #7
  • Edited 10:30am Oct 31, 2012 10:16am | Edited 10:30am
bring %%% on account doesn't mean anything.

One of the biggest problem and failure of all retail traders in time to come is

- Eventually losing all profits to the market
- Eventually endanger their own account main capital later on.
- Unable to protect profits accumulations.

Risk management and loss management should be more respected and care for over than chasing gains.

I can tell u when i was trading in my earlier times, i made $10,000 from $1000 within 3months with 8000pips accumulation since i was trading mainly on 0.1-0.2 lots, and lost all my profits later on . As human greed to chase for more gains and bigger compounding returns which later increase the risks as well.

So to be very honest, chasing % don't mean anything. If you can develop a system with less than 5% dd and a return of 10% safely, any portfolio/fund management would want to seek you instead of traders who can go rogue trading 200-400% and then losing billions for banks as reported so frequently over the news.

Anyway, you should invest more in my opinion 100 is too little to be care for, 1000 would be ideal and you should cap your daily losses/max trades so you don't get emotionally attached or caught nursing a bad trade, and u probably need to trade on 0.01 lot as 0.05-0.1 lot on $100 account also seems too over-leveraged.

why name ur thread fx invest fund, ppl may think its a pamm/commercial.
  • #8
  • Oct 31, 2012 2:21pm Oct 31, 2012 2:21pm
Quoting Celente
Good luck and good performance man. Taking a 100$ account is far better than trading on demo. Hope you do well
Thank you!
  • #9
  • Oct 31, 2012 2:25pm Oct 31, 2012 2:25pm
Quoting jmtini
Hi fxglider

What strategy are you using?
I identify demand and supply and trade the breakout or bounce. I also trade breakout from consolidating areas. I don't like indicators very much so I don't use them.
  • #10
  • Nov 1, 2012 12:29pm Nov 1, 2012 12:29pm
Quoting fxglider
I identify demand and supply and trade the breakout or bounce. I also trade breakout from consolidating areas. I don't like indicators very much so I don't use them.
Have to agree with you on most. But there is no doubt that moving averages can help with trading price retracements.

What I am going to do is open a similar $100 account and trade micro lots in an attempt to build up a slow "credit balance" - love your idea and see the potential

Wishing you very successful trading!
  • #11
  • Nov 1, 2012 12:38pm Nov 1, 2012 12:38pm
Quoting jmtini
Have to agree with you on most. But there is no doubt that moving averages can help with trading price retracements.

What I am going to do is open a similar $100 account and trade micro lots in an attempt to build up a slow "credit balance" - love your idea and see the potential

Wishing you very successful trading!
Thanks! It's been up and down with everything happening in America, but I'm still in good position. The key, as you said is to trade micro lots and build your account slowly.

Good luck to you as well!
  • #12
  • Nov 2, 2012 3:12pm Nov 2, 2012 3:12pm
Week 1

Ended up 1.3% positive for the week, which I'm glad about. Had a few losses, which I'll rather take than to leave them run against you. By now I've learned that it is better to cut your losses than to hope for trend reversal.

Have a great weekend fellow traders!
  • #13
  • Nov 2, 2012 9:38pm Nov 2, 2012 9:38pm
Quoting fxglider
Week 1

Ended up 1.3% positive for the week, which I'm glad about. Had a few losses, which I'll rather take than to leave them run against you. By now I've learned that it is better to cut your losses than to hope for trend reversal.

Have a great weekend fellow traders!
good mentality , never to nurse a trade and hope for reversal to only get into more negative margins, find a high probability set up with low risk and small stop loss, get out because the trade wont work, find a new set up again, eventually 1 big winner will help u cover all the losses u make from small fishes.

then get better in entries u will make better portfolio.
  • #14
  • Nov 9, 2012 1:08pm Nov 9, 2012 1:08pm
Week 2

It's been a lot up and down this week, but I stuck with my system and managed to walk away with some profit. Hopefully next week we catch more trend, but as it is I'm still well on target for 5 - 10% profit for the month.

Have a great weekend!
  • #15
  • Nov 12, 2012 9:44am Nov 12, 2012 9:44am
I've taken out my funds for now as I my cash flow is not that great. I will deposit the $100 again when I have it to spare.
  • #16
  • Nov 12, 2012 2:04pm Nov 12, 2012 2:04pm
Quoting fxglider
I've taken out my funds for now as I my cash flow is not that great. I will deposit the $100 again when I have it to spare.

Sorry to hear that, fxglider but I do understand.

Hope to see you try it again soon!
  • #17
  • Dec 2, 2012 12:46pm Dec 2, 2012 12:46pm
So I decided to get back in the game with a $50 I found laying around.

The only difference is this time it's high risk = high reward... or not...we will see!
  • #18
  • Dec 2, 2012 2:12pm Dec 2, 2012 2:12pm
Quoting fxglider
So I decided to get back in the game with a $50 I found laying around.

The only difference is this time it's high risk = high reward... or not...we will see!

Great going fxglider

I've done the same with $200

Going short
  • #19
  • Edited 2:47pm Dec 2, 2012 2:37pm | Edited 2:47pm
fxglider,

Any reason why you are trading AUDCAD and NZDUSD ?

Why I ask is because they have small small trading ranges. If you take an hourly chart with BRN indi at 50 pip levels you will see that their ranges are about 30 pips which means that there is also a lot of whipsawing around.

Take a look at EURJPY - trading range is usually around 100 pips and movement is often nicely predictable!
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy.gif Size: 22 KB
  • #20
  • Dec 3, 2012 10:16am Dec 3, 2012 10:16am
Quoting jmtini
fxglider,

Any reason why you are trading AUDCAD and NZDUSD ?

Why I ask is because they have small small trading ranges. If you take an hourly chart with BRN indi at 50 pip levels you will see that their ranges are about 30 pips which means that there is also a lot of whipsawing around.

Take a look at EURJPY - trading range is usually around 100 pips and movement is often nicely predictable!
Hi, I have 7 currencies setup on daily charts trading a breakout strategy. It does not give me many opportunities, but the one's I do trade usually work out. Currently the only two that met my entry conditions were AUDCAD and NZDUSD. My default TP and SL is 100 pips, which gives me room for movement/whipsaw. Some trades are open for days, even weeks, but I don't mind - at the end the profit should be good - I hope :-)

The currencies I trade are EURJPY, NZDUSD, CHFJPY, GBPJPY, AUDCAD, AUDJPY and EURAUD. These were the currencies that gave me the best breakout results in backtesting.
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