Can I repeat turning $800 to $5000 again? | Page 2 | Forex Factory

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Can I repeat turning $800 to $5000 again?

  • #21
  • Jan 21, 2015 4:07pm Jan 21, 2015 4:07pm
Quoting TranceTrader
You're chasing the wind my friend, look up currency overlay.
Thank you, but I really don't care about currency overlay.. I'm more focus on things that will help me extract money out of the market at a high level.. Everything else is a distraction..
  • #22
  • Jan 23, 2015 2:57pm Jan 23, 2015 2:57pm
Took one trade today that resulted in a 2:1 profit.. I made $21 on the trade so I guess that's a start... I have been sick all week, so it has been hard for me to do anything.. I will be at this again on Monday.. Everyone have a great weekend!
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  • #23
  • Jan 26, 2015 2:03pm Jan 26, 2015 2:03pm
Took 3 trades today.. One loss and the rest are winners.. -14 pips, +40pips, +26pis..
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  • #24
  • Jan 26, 2015 3:39pm Jan 26, 2015 3:39pm
I might be wrong, but I think the reason you decided to change strategy/system was because the old system suddenly was not working anymore? You see, every system works and every system has its up and down time. Knowing the time/seasons your system works and when it doesn't work is the first step to discovering trading success
Orderliness of Randomness
  • #25
  • Jan 26, 2015 3:55pm Jan 26, 2015 3:55pm
Quoting focusonmoney
{quote} Yea money management played a big part, also learning how to read market behavior (context) was another major reason.. I traded one market at the time (oil), but this time I will trade multiple markets..
Just out of curiosity: How do you trade oil with such a small account with proper MM? I cannot trade micro and mini lots on oil at my broker for example.
Fix up, trade sharp ...
  • #26
  • Jan 26, 2015 4:38pm Jan 26, 2015 4:38pm
Quoting eloaking
I might be wrong, but I think the reason you decided to change strategy/system was because the old system suddenly was not working anymore? You see, every system works and every system has its up and down time. Knowing the time/seasons your system works and when it doesn't work is the first step to discovering trading success
No that wasn't the reason.. Like I said before I only had one breakeven week and I got mad and nervous..
  • #27
  • Jan 26, 2015 4:40pm Jan 26, 2015 4:40pm
Quoting focusonmoney
Took 3 trades today.. One loss and the rest are winners.. -14 pips, +40pips, +26pis.. {image} {image} {image}

Hi

Well done on those trades .. what Ma are you using ?

thanks

Russ
  • #28
  • Jan 26, 2015 4:44pm Jan 26, 2015 4:44pm
Quoting Hickson
{quote} Just out of curiosity: How do you trade oil with such a small account with proper MM? I cannot trade micro and mini lots on oil at my broker for example.
I was trading Gold not Oil.. But yea I believe I can trade oil too..
  • #29
  • Jan 26, 2015 4:56pm Jan 26, 2015 4:56pm
Quoting russtrader
{quote} Hi Well done on those trades .. what Ma are you using ? thanks Russ
Thanks... I'm using a 20 EMA..
  • #30
  • Jan 27, 2015 12:10am Jan 27, 2015 12:10am
Quoting focusonmoney
Took my first live trade today with my $300 account.. The trade was a breakeven trade and after that I didn't trade anymore... The market was really crazy today, too much going on, and my setup's wasn't the cleanest... So I decided not to force anything today.. I'm going take off tomorrow and trade on Friday.. {image}
I would not take any short period timeframe trades as a new forex trader. You should focus on reading basic charts on the H1 to the Daily.
Direction is more important than speed. Alot of people go nowhere real fast
  • #31
  • Jan 27, 2015 2:34am Jan 27, 2015 2:34am
Quoting focusonmoney
{quote} I was trading Gold not Oil.. But yea I believe I can trade oil too..
Hm, interesting ... I also do not know a broker where you can trade small positions on gold for a 800 $ account.
Fix up, trade sharp ...
  • #32
  • Jan 27, 2015 1:17pm Jan 27, 2015 1:17pm
Quoting traderjess87
{quote} I would not take any short period timeframe trades as a new forex trader. You should focus on reading basic charts on the H1 to the Daily.
I guess you haven't read my whole thread. I'm not a new trader.. I have been trading for 8years..
  • #33
  • Jan 27, 2015 1:20pm Jan 27, 2015 1:20pm
Took two trades today.. One loser and one winner.. -13 pips, +40 pips..
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  • #34
  • Jan 28, 2015 2:59pm Jan 28, 2015 2:59pm
Before FOMC news, I really couldn't get things going.. So after my first trade, I decided to wait after the news to trade.. Two trades today, one loser one winner.. -11pips, +40 pips..
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  • #35
  • Jan 28, 2015 11:18pm Jan 28, 2015 11:18pm
Quoting focusonmoney
{quote} I guess you haven't read my whole thread. I'm not a new trader.. I have been trading for 8years..
Sorry if I misinterpreted.
Direction is more important than speed. Alot of people go nowhere real fast
  • #36
  • Jan 30, 2015 12:49pm Jan 30, 2015 12:49pm
Quoting traderjess87
{quote} Sorry if I misinterpreted.
It's cool no worries..
  • #37
  • Jan 30, 2015 12:55pm Jan 30, 2015 12:55pm
I took off yesterday, but I wish I didn't.. There was a lot good trades yesterday.... Anyways, I took one trade today +30 pips..
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  • #38
  • Feb 1, 2015 8:31pm Feb 1, 2015 8:31pm
Quoting focusonmoney
Took my first live trade today with my $300 account.. The trade was a breakeven trade and after that I didn't trade anymore... The market was really crazy today, too much going on, and my setup's wasn't the cleanest... So I decided not to force anything today.. I'm going take off tomorrow and trade on Friday.. {image}
Hi Focusonmoney:

It is usually not a good idea to trade inside a triangle formation, there are a lot of almost random moves in that area, especially on the 5min time frame.

The best way to trade triangles is to wait for a clean breakout and then ride the trend. To put all the odds in your favor, make sure that the direction of the breakout is also the direction of the main trend on a higher time frame.

Now to answer your question, making 625% a year consistently is impossible. You could achieve that kind of return a year or two, but sooner or later the law of large numbers will catch up with you.
Each losing trade is an opportunity to learn
  • #39
  • Feb 4, 2015 4:13am Feb 4, 2015 4:13am
I am doing the same, start small with 500.00 and would like to see the results at the end of the month
Trade smart, not hard
  • #40
  • Feb 6, 2015 6:43am Feb 6, 2015 6:43am
Quoting EarnPipsNow
{quote} Hi Focusonmoney: It is usually not a good idea to trade inside a triangle formation, there are a lot of almost random moves in that area, especially on the 5min time frame. The best way to trade triangles is to wait for a clean breakout and then ride the trend. To put all the odds in your favor, make sure that the direction of the breakout is also the direction of the main trend on a higher time frame. Now to answer your question, making 625% a year consistently is impossible. You could achieve that kind of return a year or two, but sooner...
what about head and shoulder? what is the best way to trade them? is it entry at the left shoulder or at the break of the neckline?
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