My forex journey

This is not my first forex account, but for the first time I feel that I really know what I'm doing and that I am on the right path.

21.2.2013 - Started 10 days ago and today I have more than 100% growth. So far everything is good and I also came through 2 big crises and overcome both well, which gave me much more confidence. Let's see what will next week bring to me.

Most important thing is how big the risk was. You wrote about crissises and here the question is how much would You lose at this worst case. Seeing such big gain makes me think that your risk is too high (maybe Im wrong). Calculate your risk, because profit saying not much.

I know risk is higher than most of serious traders, but I know how to handle it and by crisis it was possible 50% loss. Anyway this is scenario which will be day by day less probable. My account grows and I will not be risking more till it will have 10 times size, which means 1000% growth. At this point my risk will be absolutely normal like everyone else. Point is to minimize losing trades.

Anyway thanks for your words.

First target at 150% growth has been hit. Next target is 300% growth which I'd like to get around 14th of March. Hope this is not too much.

Today I am trying to make my first longer term trade. It means I look on H4 and daily chart and have much bigger target. It should be test of my patience, because I am not good at it. I also attached a chart. Fingers crossed, hope it will work and I will be able to wait till the target is reached

EDIT: Still not comfortable with such a long time period and chickened out @121.110. Anyway it was profitable trade in the end.

try trading in smaller lots
OR
more pairs (JPY in your case or EUR)

So, I have now more than 400% growth. Little bit before my plan My next target is 650% growth. I'd like to be there at the end of March. Let's see if I can manage that.

Also I'm trying some new pairs, but have to get familiar with their moves first.

Hi James,

what is the latest update on your progress?

I am back after more than 2 years without trading because of time. My new target is to be successful long term. Right now everything looks good, but tempo of the growing of my account is a little bit scary. I also survived one draw-down. It was because I tried to trade a pair which I didn't know and it surprised me. Another new thing is that I do not trade EURJPY only but some other currency pairs too. First milestone right now is se to December 31st and the only thing I want is to be in profit...even 0,1% will be enough

This week is so far really bad, since Monday's evening I've been down on GBPJPY. Covered it today but still it's a huge loss - but could have been much worse. What I got from this experience is to be much more patient and also have a limit when to stop adding new positions. Pretty much all the same story. Also thinking about withdrawing some money to get me more cautious. And I'd also like to try challenge from forexsaint with another new account with only 100 euros equity.

First month is closed for me. Growth 27.7% is much more than I expected. It could be better, but I'm glad for what I got. I closed my longs of AUDUSD and NZDUSD carried from last week. Even if I wanted to hold them longer, I rather closed them.

Next plans: In December I'd like to have at least 35% total growth and also make my 100 fold challange account free. It would be also nice to not have such a brutal drawdowns like I did this month.