nsrajesh - forex trading journal

Hi All,
I am back in Forex after a long period (around 2 years). Already started the trading with a small amount and seeing some good progress. So from today i am going to keep updating this thread. Lets see how long this account is going to hold


Please check my profile for linked Forex account details.

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hi all,
i started my live Forex trading a year before - 2010. still i am loosing money (april 2011). so i would like to make a journal myself to keep track of my trading.

just blown up one of my account & just deposited $2K into new account. so far so good in this account. as like previous account i will update about this account progress... i just rectified few of my problems - regarding trading..... lets see what happens in coming weeks / months


New Account Status

FxOpen Live Account: from 07/05/2011
Deposited Amount: $2000
Profit / Loss: $642.24

without any confirmation i just took a sell call on gbp/usd that too 2 hours before ECB Official Bank Rate announcement, which is a big mistake and now i am suffering for that

hoping for the best. just took a oath not to trade without any strong signal. lets see....

hoping to start my next level of forex trading with $2K account within next few days....

hope this year will be positive as i would like to take more calculated risks only...
wish me all the best

i just deposited $886 into my fxopen account. (might deposit another $886 - may be next month starting)

opened a long position with $2 / pip & got $50 as profit.

from today i would like to go with just $2 / pip (max & not more than that) and also not going to open more than 3 open positions - based on market conditions.

till now most of the time i will loose all my $$ within 3-5 losing trades which was earned by 20-30 winning trades - all because of NOT using STOP LOSS

so from now on i am going to use stop loss & take profit. :

hoping to get all my money back within next 2 months - max.

today i managed to get $200 (20%) overall profit - but all trades with SHORT calls only...


fortunately today i landed in good condition when GU is flying too high

hoping to make this week as green week. just playing with GU / GJ

my over all profit is now: $10 - in the last 1 month i lost nearly $400+. now within last 2 weeks i got all those lost $$ & now i am in Green.

This gives me boost up to work hard.....

Wish you Good Luck.

2-3 losing trades erasing gains of 20-30 trades seems to be a common thing among retails traders. Start using trailing stoploss after your profit target is achieved so that if few of your winning trades run for more pips than you would have booked profit at, you may earn big in few trades. With Trailing Stop, like how you are allowing your losing trades to run same way you can let your winning trades also run without losing the profit you already earned.

hi, thanks for your feed back... i will try this trailing stop asap...

why didnt i updated my thread?? because i burned all money in my account

now waiting to deposit some more within next two days

Buddy ...so overall u r in profit or ur in loss???
I m too learning forex....but not getting confidence to trade with real money ......
kindly share ur experience with us ....
& All the best

a week back '12/21/2011' i just started trading again. this time my entry is good but exist is toooooo bad. once i exist the market goes in the same direction at least 60+ pips.

now i need to find a way to hold my temper to exist earlier.

lets see in coming weeks.

Hi... Now i am back in business. I just have $300+ in my account. Just trading with 0.01 lots (which is equal to $0.10 / pip). Now just thought of increasing to $0.50/pip. Lets see how its going to work out.

Again back in business after around 10 months. Just deposited $200 and got $70+ as profit (confidence trades). Wish me all the best

hi nsrajesh
Just read your juornal
i want to give you advice.
When you trade small account you need to do it the same way as if it was big account
I mean you need to succeed in your trading with a small account for a long time lets say 4 month
and then maybe add a little and make size a little bigger.
I think documenting trades may help you you always can review your past trade
and try to think what was wrong what shouldnt you do next time.
70$ from 200$ this is 35% you always have to know in your mind that as if you win 70$ you can loose 70$
Now if you familiar with WW tables then you know that to bring back your acc to 100% after loss of 35% is
Here is a link to table -link-
So in my opinion small and steady small win to small win to small loose little by little you can learn
and trade till you will be profitable in small account and from there step by step
It is a journey to succeed in forex
thats just my two cents - u can agree or disagree
Trade well
Michael

Once again... i am back in business...