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Automated trading: $200 to $100K in 1 year 27 replies

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How to make €100k

You want to make 100k, but you are down -€2,371, you need to catch up. i too, want to make 100k by the end of the year, but I think I will get there before you do.
0% FEAR 100% GREED
Quoting sconcha
Keep you head up wm-eu! You lost one battle but not the war ! Show the market you can beat it!! Have you thought about using an Expert Adviser (bot) to help your trading ? I think it would be helpful . Your discipline problems for one would go away instantly SC
thank you very much

i have used years ago some ea (and as i remember they were even slightly profitable - at least some of them). then i stopped doing so bcoz my actual broker (oanda) at that time didnt supported mt4 and had just an expensive way to led orders execute through api.

i think to use an ea would surely be helpful and i definitely want to go in this direction sooner or later (and i have so far 2 ideas which i want to try on a demo).
but my main problems with ea right now are:

  1. for my trading style its hard to define signals which could be execute by an ea (basically its not like: if this happen i will buy)
  2. my programming skills are not very good


since a while i also tried to "diversify" through using social trading (just small amounts). i basically tried ayondo, zulutrade, a system of oanda and also mirror trader by fxcm. the mirror trader is still pretty new, on the others i basically lost money - even if not much. the only social trading activity on which i made money so far is "wikifolio" - a german bank admits traders to built up a kind of funds and to emit certificates on this strategies.

Pecunia non olet
Quoting AlwaysWinnin
You want to make 100k, but you are down -€2,371, you need to catch up. i too, want to make 100k by the end of the year, but I think I will get there before you do.
no, i am down right now ~300 €. i dont know why the trade explorers show a wrong number, but when you check on "trade report" you can clearly see thats the number is wrong.

well, i dont think that i will reach this target this year - it will take 2-3 years easily.

anyway i am not in some kind of competition to reach it as fast as possible ;-)

good luck
Pecunia non olet
last week i made 489 € on my main trading account. due of my own rules today i transferred 50% of the profit (244€) to my second, less riskier account. by doing so i basically want to reduce risk of losing that amount again.

overall last week i was (maybe lucky^^ - lol) and was able to make some good trades and therefore i could regain most of my january losses.

basically this kind of market with this volatility is nearly perfect for my trading style. or, for saying it with different words: my trading style is effective for this markets. while on very strong moves its basically crap...
Pecunia non olet
Goodluck with your goal. Lets make this money!
Trade smart, not hard
Quoting TimTheTrader
Goodluck with your goal. Lets make this money!
thank you very much
Pecunia non olet
today basically was a good day, i could make some profitable trades

but still i am totally satisfied, bcoz i closed some positions too early and so i couldnt take the maximum gain
Pecunia non olet
short update:
i wasnt active here for a while

anyway, last weekend i didnt transfer any gains to the second account bcoz the opened position was in minus and so there wasnt any gain...

in the last days i closed this position and was able to make some short term trades

what i didnt liked was basically that again i closed some positions to early instead of letting the "profit running". this happens to me especially when i opened more positions and use therefore a higher leverage. in such situations i often search to get out of my positions asap. even if, as in the last days, it strongly limits my gains. i should do my best to handly such situations better.

a good thing was surely that at least i was able not to trade the same underlyings at my different accounts ^^ it often happened to me in some situations that i opened similar positions also in other accounts to make profit - as long as i made profit it was ok, but i think its to dangerous to get fixed on the same moves in different accounts and to risk that all accounts lose at the same time. lately i had the discipline not to do so and i am pretty confident that i can do also in the future.
Pecunia non olet
Today I closed my remaining position (also this a bit too short, seen that i could have made more profit and waited for my initailly profit) and i transferred 160 € to my second account.

somehow even in the afternoon my broker platform seems to have connection problems -.- strangely the mobile app is working fine

right now i have:
640,78 € on my main trading account and
694,2 € on my second account.

after my about 1000€ loss in january i am now totally up for 300 €
Pecunia non olet
seen that my account is actually to small to trade the dax (the levarage would be too high) i opened long position in gold and silver bcoz the daily chart seems pretty bullish so far.

for the rest actually the volatility especially on stocks is pretty low and so also next week i may be very cautious trading them. so far at such low volatility times i made often several errors in the past
Pecunia non olet
end of the month, so its time to have a few over it.

generally it was a good month, without big drawdowns and i was able to recover my january losses and make even some small gains. surely also market volatility was also very helpful for me, even if especially in the last week volatility in dax got down and so it may be more difficult to make gains in the next weeks. Especially I have to take care not to make some stupid error (like to be greedy).

in the last week i trasferred 70 € (half of my weekly profit) to my second account.

so far on my main account i have 711 € and on my second account 757 €
with my loss from january of about 1000 € i made so far ~450 €. too bad that the trade exploere shows this wrong
Pecunia non olet
today i even begun to try a new strategy with a preset stop loss and take profit.
the target is again 100.000 - start capital is ~2000 €. anyway, i may make just relatively few trades on this account and i will try to post them here. unluckily i cant connect it with a trade explorer.

my first open position is a long in m6a (micro aud/usd) with a value of about 7000 €

entry: 0,7833
target: 0,8189
stop: 0,7629
reason: the daily chart looked good and the price broke out of a longer restistance line with severily highs
Pecunia non olet
so far nothing special. i could make some trades on e/u, e/j and dax (mostly short).

also on my "new" strategy i made a dax short from 11426 (with an initial sl of 11460 and a initially target of 11350). As the index got down i lowered the sl to 10405 and then closed the position at 11370, bcoz it seems at it could stabilize there and indeed it did. Surely the question is if i just should have lowered the sl again, seen that by closing the position i "limited" my gain.
Today it was the right decision - maybe next time it wont
Pecunia non olet
Hi man,

I don't want to be discourage or anything. But if you've been trading 10 years but still struggling to find out a profitable system in forex, I'd recommend to stop your live account and go back to demo account! Develop a profitable method based on your trading style and risk tolerance, back testing it, then go live again once you've figured it out. Don't waste money trying to prove a point here in the forum while losing money! I hope all the best to you!
Quoting phongvu12
Hi man, I don't want to be discourage or anything. But if you've been trading 10 years but still struggling to find out a profitable system in forex, I'd recommend to stop your live account and go back to demo account! Develop a profitable method based on your trading style and risk tolerance, back testing it, then go live again once you've figured it out. Don't waste money trying to prove a point here in the forum while losing money! I hope all the best to you!
thank you
i wouldnt say that my system is not profitable, indeed also so far this year I had gains (even if in the trade explorers its showed wrong - dont know why. in case you can check directly in the trade report)

so, so far i am happy with it ^^

good luck to you to
Pecunia non olet
yesterday i wasnt anymore able to post this:
buy of 1 contract dax (~11000 €) at 11280 with sl at 11260 and tp at 11350.
today i closed it when market opened at 11320. i closed it bcoz i didnt had a good feeling about it and indeed it made a new low
Pecunia non olet
right now i opened the following orders

long m6b (micro gbp/usd) @stp 1,5242 --- tp 1,5276 --- sl 1,5213. crv is just 1,2, but i will still risk it

long xau/usd @stp 1201,5 --- tp 1220 --- sl 1196. crv 3,3

long xag/usd @stp 16,24 --- tp 16,43 --- sl 16,15 crv 2
Pecunia non olet
Quoting wm-eu
right now i opened the following orders long m6b (micro gbp/usd) @stp 1,5242 --- tp 1,5276 --- sl 1,5213. crv is just 1,2, but i will still risk it long xau/usd @stp 1201,5 --- tp 1220 --- sl 1196. crv 3,3 long xag/usd @stp 16,24 --- tp 16,43 --- sl 16,15 crv 2
lol - all positions stopped out. The gold trade i modified during the day, got executed and stopped out later. not very good at all.
also today a small silver trade and a short on the dax got stopped out with a small loss.

the dax generally makes me nearly feel a bit upset. the strength is amazing. All european indices i checked corrected today ~50% of their last 2 days move - the dax neither reached 38%...still there are many divergences which could lead to a sell pressure. if not i will have to close my position soon
Pecunia non olet
since i dont like the movements of the dax lately i entered following order:

short eu50 (eurostoxx) stp@3609 sl@3622 tp @3555 crv 4

my m6a long is still active
Pecunia non olet
Quoting wm-eu
since i dont like the movements of the dax lately i entered following order: short eu50 (eurostoxx) stp@3609 sl@3622 tp @3555 crv 4 my m6a long is still active
my m6a long got stopped out today.

at least my short eu50 played out pretty well, even if i closed it a bit before the target.

today again short eu50 stp@3565 sl@3579 tp@3505
Pecunia non olet
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