Greetings to All

Fellow Traders,

I'm trading Forex since 2006. I'm still a learner of technical and fundamental analysis. I like candlestick patterns and price actions. My trading style is a combination of fundamentals and technical with straddle methods. I would like to make $50,000 from my $1000 dollar investment by end of June 2014. It is a testing for my 8 years of experience in forex before I make a big leap probably a million dollar trades.

I have attached my project plan and also strategy as well. I need your supports and advise time to time. After all these years I have realized that forex trading cannot be done alone. It requires regular supports and follow ups with advises. I'll be online every day SGT8:00pm to SGT10:30pm (China, Singapore, Malaysia, HK) time.

Trading Rules: (Attached Project Plan in xls. You can only edit the green column)

1. Protect my investment no matter how good or bad will be the outcome

2. Only 2 or 3 trades must be opened at any point of time else close them.

3. Make small trades daily ($50 to $100 profits) or loss maximum $100

4. Strictly follow the trading plan and trade accordingly.

5. Always must remind myself that I need the money to pay my bills

6. Concentrate, Concentrate and Concentrate

7. Once again stick to the plan and don’t be too greedy.

Simple Strategy: (I'm not intent to change it because I have tested this strategy for more than 4 years)

Indicators: (Attached Screen shot)

1. EMA (14, 62, 150)

2. RSI (24), Stock (14, 5, 5) Same window

3. Fractals (Define the stop-loss) or counter trades (straddle)

Using the strategy:

1. Only trade in H4 or D1

2. At least 3 Candles should close below 14 EMA

3. RSI should cut the Stoch lines to change the direction else continue with the same direction.

4. BONUS: If the 62 EMA or 150EMA cut the 14EMA then continue with the same direction for more pips.

5. Stop-Loss: Usually place at recent highest (for sell)/lowest(for buy) Fractals' levels (I'm using straddle method as such I place counter trades in 50-100 pips away from the entry. Slightly less than fractals.)

5. The least profit is 10 pips once achieved then adjust the stop-loss to secure the profits and modify a new profit margin around 50-100 pips (I hope in H4, D1 easier to make these amount of pips)

Currency Pairs:

1. EURUSD (H4, D1)

2. GBPUSD (H4, D1)

3. GBPJPY (30M, H4, D1)

4. NZDUSD (H1, H4, D1)

5. AUDUSD (H4, D1)

how?

So far so good. Hope to keep up the momentum!

$1000 to $50,000 in 4 months is unrealistic. However it is nice to see a detailed trading plan. Good Luck.

Hello Winston,

Thank you for the comment. We need to do around 269 trades with 10 pips profits to achieve this target in 88 Banking days successfully. Probably 3 to 4 winning trades a day. I think it's possible. One of my friend who has made USD138,000 with an initial amount of 750USD in 3 months last year. He is a new trader with less than 3 years of experience. Using the similar method. The funny thing is, he is my student. *smile* Therefore I also wanted to prove myself.

Just risking an 800 bucks!

To make $49k in 88 days you will need to make trades adding up to $557/day. You can do 100 pips x 5 trades or 250 pips x 2 trades. And that is assuming absolutely no losses. So you want to be careful not to lose any trades in the beginning. Even one loss right now could cut your initial capital in half. Two losses and....well you know. I didn't see any money management plan. So how 'bout those first trades? Dying to see them. If you can do it I'm your biggest fan!

Look under his profile Winston, he has a trade explorer listed there.
I think your method will have more longevity.

I saw it Jim. Thanks!

Thanks Jim and Winston, In my trading plan I have stated the lots size for each trades. If we strictly follow the plan probably we are able to achieve 50K with 198 successful trades. I'm still believe that we can easily do more than 50 successful trades per month. Don't we?

PS: I regret to admit that I made mistakes in my last few trades. It was due to my greediness and now paying for it. Hopefully I'm able to back on track by God grace soon.

Mistake 1: Opened more than 3 trades
Mistake 2: Unnecessarily take the Gold trade... itchy hand... I should not have done that...

Thank God, for saving me today!

Hope to achieve my 50K mark soon with your help!

Hi,
thank you for sharing your system.
I think that the best trading system in the financial market is planning the trades. If someone create a good plan for loss and earn and follow it the succes is guarantedand Of course you must also have a good strategy

Hi,

Thanks for the comments. I strongly agree. To make money in the Forex market not only we should have a proper plan with a simple strategy but also we should have a good set of people to share their views and mistakes to prevent the costly mistakes. Therefore I'm following the trading plan as stated in my MorewinsPlan.xlsx and using this forum to share my thoughts and views.


For me to succeed and achieve the 50K in 4 months I need the following

Proper plan 35% (Created)
Team Work 25% (Established with Forex Factory)

Simple strategy 20% (Created and tested)
Timing 20% (Following the calendar)

Thanks to God for giving us a good platform like Forex Factory to share our ideas and views.

Thanks ArRahman and Maliq for the help and guidance! It was a wonderful day.

Thanks ArRahman and Maliq for the guidance.

Today GBPUSD, AUDUSD and NZDUSD trades have been activated from my pending orders and desperate to close the Gold trade soon.

Hope for the best.

Dear ArRahman & Maliq thanks for the wonderful guidance & opportunity to start a good week.

I have started my Forex business again and hope to reach my goals. This time around my strategy is always a KISS for Forex trading.

Finally, 1st day i'm able to make over 500 with my new strategy..and i'm going to monitor for a month before use real money on live

Happy trading! reasonable profits today going to close my trades soon

My trading results for today over $600. If anyone have any clarification on my strategy please let me know. I have created an EA to do the trade. I can share for a month for testing purposes from May 15th on wards.
https://www.forexfactory.com/morewins#acct.82

My weekly target has been just achieved. Hope to make some extra during the NFP

EURCAD Long - Target 250 pips
Reason: Beautiful bullish hammer + Cross over 11EMA + 50EMA + 110EMA and all EMAs are below the candles in H1.
Check my trading explorer.