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Tim's £500 marathon. Goal £1 million

  • #81
  • Feb 15, 2015 2:45pm Feb 15, 2015 2:45pm
Quoting MrInvestar
{quote} Epic dude! Do you have rules as to how many trades you place on a day?
Yes I do.

1 trade minimum and 4 trades maximum a day. I like to keep it this way. Before I used to over trade, like 16 trades a day! Made no progress trading like that, only made huge losses.
Trade smart, not hard
  • #82
  • Feb 15, 2015 6:38pm Feb 15, 2015 6:38pm
USD/JPY trade was unsuccessful due to stoploss being hit, however I took a small loss of -9.58(-1.6%) and I am pleased with the way I managed this loss. Could of been a lot worst if I didn't trade by my strategy and let my EMOTIONS get the best of me. NEVER ever FORCE a trade and go against your strategy if it doesn't go your way. Cut your losses short and wait for another OPPORTUNITY. Guys you need to understand that its not everyday make profit, sometimes you will make losses, it is part of our journey. If it is not meant to be, then it is not meant to be. Trust me, I know the feeling of losing a trade when you have a high expectancy of it becoming profitable, It stings like hell. But look on the bright side, you cut your losses short, risked what could afford to lose without harming your account and most importantly, you live to trade another day that could recover your loss and make additional profit with one trade.

First loss of the week, clearly today is not a day for me to make profit. Not to worry, I will let this one slide and wait until tomorrow for any trading opportunities. I'm actually proud of myself as I made no schoolboy errors this time, stuck to the plan all the way

Anyway, hope you make profitable trades today

Account now stands at 609.46
Attached Image (click to enlarge)
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Trade smart, not hard
  • #83
  • Feb 15, 2015 6:55pm Feb 15, 2015 6:55pm
Quoting TimTheTrader
USD/JPY trade was unsuccessful due to stoploss being hit, however I took a small loss of -9.58(-1.6%) and I am pleased with the way I managed this loss. Could of been a lot worst if I didn't trade by my strategy and let my EMOTIONS get the best of me. NEVER ever FORCE a trade and go against your strategy if it doesn't go your way. Cut your losses short and wait for another OPPORTUNITY. Guys you need to understand that its not everyday make profit, sometimes you will make losses, it is part of our journey. If it is not meant to be, then it is not...
Nice setup for a short trade, close the gap, retest the resistance.
ReAl MoDe: ON
  • #84
  • Feb 16, 2015 2:20am Feb 16, 2015 2:20am
Tim, I love your PMA, keep it up and prove me wrong
used to be undecided but nowadays can't make my mind up
  • #85
  • Feb 16, 2015 2:34am Feb 16, 2015 2:34am
Did you use any moving average in your trading system?
  • #86
  • Feb 16, 2015 3:32am Feb 16, 2015 3:32am
Quoting mrcreosote
Tim, I love your PMA, keep it up and prove me wrong
Sorry Sir, Please Help,
PMA means ?

thanks.
ReAl MoDe: ON
  • #87
  • Feb 16, 2015 4:32am Feb 16, 2015 4:32am
Quoting TimTheTrader
Hello people, this is my trading journal where I will document my trades in the FOREX market. I am also making use of the TRADE EXPLORER to asses my performance and display my trades. I have been trading FOREX on a demo account for 7 months and have decided to go live. My goal is to make 1 million! I am probably going to have A LOT of DOUBTERS, but I believe NOTHING is IMPOSSIBLE. I don't know how long this marathon will take, maybe 10 years, 5 years, a month or even a day! Lol who knows, I guess you need to stick around and find out. Enough of...
I'm following your journey

You are doing well currently.Keep your focus and all will be well

Good luck

Rooi
We miss 100% of the shots we don't take
  • #88
  • Feb 16, 2015 4:34am Feb 16, 2015 4:34am
Quoting Rooi
{quote} I'm following your journey You are doing well currently.Keep your focus and all will be well Good luck Rooi
I see you are from Cape Town, me too!
Up and coming champion Pip collector.
  • #89
  • Feb 16, 2015 6:09am Feb 16, 2015 6:09am
Quoting vicentis
{quote} Sorry Sir, Please Help, PMA means ? thanks.
POSITIVE MENTAL ATTITUDE

You gotta have lots of it to survive till you get to consistent profitability land.
Let it turn and find your entry.
  • #90
  • Feb 16, 2015 6:28am Feb 16, 2015 6:28am
Quoting mrcreosote
Tim, I love your PMA, keep it up and prove me wrong
Thanks for the word of encouragement

Quoting JordanYilmaz
Did you use any moving average in your trading system?
I don't use any moving averages as I don't need it for my strategy

Quoting Rooi
{quote} I'm following your journey You are doing well currently.Keep your focus and all will be well Good luck Rooi
Thanks following! Mental strength is key if we want to reach our goal!
Trade smart, not hard
  • #91
  • Feb 16, 2015 6:37am Feb 16, 2015 6:37am
Quoting Intrepidpips
{quote} POSITIVE MENTAL ATTITUDE You gotta have lots of it to survive till you get to consistent profitability land.
now make sense...

thanks.
ReAl MoDe: ON
  • #92
  • Feb 16, 2015 6:41am Feb 16, 2015 6:41am
This picture I found says a lot. Please if you are a newbie like myself, or have failed numerous times trading FOREX and have felt like giving up, take this image into consideration. This is the reality of trading FOREX.

In order to reach our goal, it will be a like walking into a maze. We must persevere and have tough skin, it will. It will be a tough journey.
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Trade smart, not hard
  • #93
  • Feb 16, 2015 6:52am Feb 16, 2015 6:52am
Good luck on your journey. Trying to achieve the same for this year. Only with gold here
COT: The precious data ignored
  • #94
  • Feb 16, 2015 6:58am Feb 16, 2015 6:58am
Similar type of picture
Attached Image
On my way to financial independence - if others can do it - I can do it
  • #95
  • Feb 16, 2015 7:10am Feb 16, 2015 7:10am
Quoting Eur Usd
Similar type of picture {image}
Such a powerful image.
Up and coming champion Pip collector.
  • #96
  • Feb 16, 2015 7:14am Feb 16, 2015 7:14am
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used to be undecided but nowadays can't make my mind up
  • #97
  • Feb 16, 2015 7:55am Feb 16, 2015 7:55am
Hello TIM,

Good Luck Mate !! hope you achieve what you aim for. You have inspired me to do the same. I 'll probaby open an account of 10k and go from there.



If its not clear its not there
  • #98
  • Feb 16, 2015 8:18am Feb 16, 2015 8:18am
You're doing great!

Good luck Tim, I'm following your journal. Did you do a time estimation for achieving your goal?
Had to be me. Someone else might have gotten it wrong.
  • #99
  • Feb 16, 2015 8:44am Feb 16, 2015 8:44am
only marathon with very tiny hours
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  • #100
  • Feb 16, 2015 10:09am Feb 16, 2015 10:09am
Quoting alexchandra
only marathon with very tiny hours {image}
From 5 dollars to 120 dollars? Not bad
COT: The precious data ignored
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