Personal Journal.. $5000 demo.. until I have some real money!

Personal journal, might have some good signals! stay tuned ..

Will be trading the account as if it were real.. Manual trader that bases his trades with purpose and reason..

I like to have the 'fundamentals' in check, ride the wave and entries on technical setup.. leverage is based on how good the R/R is, and I trade primarily during the NY session... Check the news, whats happening.. what happened in the european markets, form some ideas, set my alerts and wait for the fish!

Quick little scalp on UCAD, liked the price action when it broke 1.2386.. looks like my TP of 1.24 would have been hit, but took profit.

Tomorrow morning we have CPI/Retail sales from Canada coming out... looking forward to the numbers and seeing how it reacts.


Cheers!

Nice bullish formation on UCAD today, positions from earlier in the morning were in profit but clinged on to them far much more then I should have, and was in drawdown.. bought again at a low and bottom, exited those positions @ 20 pips each, and closed off my earlier positions at break even.

Not a bad day... Don't think ill be leveraging as much LIVE, as I would look for 10% returns /weekly rather.. which is quite doable for me..

How do I do it? I will leverage the account by 10, so -- $5000 / $5/pip.. I typically aim for 60-80 pips a week and look for the right opportunity... I then increase my lot size with account growth..

I'v done 10%/week+ consistently prior with my $500 account, which I grew into $4300 after 4 months.. used the same type of process..

Good trades today! Capitalized on weak yen, saw some great technical entries on the pound and US dollar

Closed EU trades

Good news from the US today, tomorrow we have FOMC and rates, shorted EU based on technicals and fundamentals. Was iffy there for a bit, played out well...

OUT, since big news tomorrow.

Note to self: Don't ever trade what you 'think' is going to happen, unless you really have strong conviction which is 1% of the time.. the 99% trade what you see happening.

Took some loses on the UJ this afternoon after FED announcements, watched UJ consolidate trail lower and take take out stops.. Funny games the FX market plays, with disregard to what matters.

Overall, cut my losses and decided once again to buy due to technical signal, and based on my own opinion with respect to fundamentals... Had a buy limit order triggered with a pretty tall order for a high leverage quick scalp aswell..

Played out really well !

When do you plan on going live? Trading a live is not the same as demo..

The only difference is emotions and having money on the line, that's it really...just stick with the trading plan Real, or demo.. the method and strategy is the same.. not worried about fills or spreads.


I'v taken $5000 before, and turned it into 43,000$ within 9 months and used it for a down payment on a home and a car.. Good market timing.

My latest venture which I documented was when I won $500 from myfxbook.com trading competition, I had a 750% return and withdrew $4300 4 months later.

You can see the linear equity curve;
http://www.myfxbook.com/members/USDC...twinner/982718

I'll be funding a $5000 account when I get my tax return within the next few months, I'll be leveraging by 10 the account size, so $5/pip in the beginning until the account grows steady and risk profit money. I typically aim for a minimum of 60 pips /week.. My entries are very specific timed high probability trades, when they go against me IM OUT.

EDIT: I just realized i repeated some of the stuff I already wrote in the journal.. hehe!