100 dollar account journal

Hi all, I would like to start a $100 account in July and hope to grew it from the minimum capital . Do feel free to subscribe to the thread and support me. Also, feel free to join me if you would like to do something similar !

Join the thread to discuss ideas !

Trading Pairs:
- EURUSD - EURJPY
- USDJPY - GBPUSD
- GBPJPY - AUDUSD
- NZDUSD

*Mainly on the major pairs

Objective :
- Fine tune my own trading (Self evaluation)
- Hopefully growing small account $100 into $1000 [No time frame]
- Stay within 40%-45 % draw down

Trading Methodology :
- Fundamental + Technical + Psychological

Milestone :
Busted Account : --
Survive 3 months : --
Survive 6 months : --
Survive 1 year : --
$200 Achievement : 10 July 2015
$300 Achievement : --
$500 Achievement : 8 Aug 2015
$800 Achievement : --
$1000 Achievement : --

First withdrawal : 8 Aug 2015
Sum : $300
Remaining $240


Cash Rebate
August

Attached Image (click to enlarge)

September


Total Yield : 300 $ withdrawal profit , $100 rebate. So long you stay afloat, that's 400% in two months

Current Planning :
- Draw down calculation



- Growth Plan


- Lot Size Calculation <Would be made available for download in future>



UPCOMING:

- Trade Setup
- Journal Tool (Excel SpreadSheet)


Subscribe to thread/follow me for future update on my project. (:

Hi,
I approach this as a chartists, support/resistance using the Fibonacci scale, if you're interested, and the forum will allow because I need to post charts, I could share my analysis of the euraud pair for the last month to this weekend, and of course the present.

I Started the Account with 50$ and blewed it in couple of days ...Later Started again with 50$ and now its 183$ in 11 Days of Live Trading.
Actually am trying to code my scalping strategy to an EA.Am not an professional Trader yet trying to be a......

ofcourse forum allow to share ur chart and ideas and will appreciated if u share ur exprince with us

Yes more than happy to see individual view on pair and how you trade. we all learn together

just a bit of advice- get rid of your weekly target.

2 things can happen with weekly/daily targets-

1) you ht your target, and ignore profitable setups- means you lose money!
2) you get closer to the end of the week and you feel the need to fill your quota, and you start making bad trades- you lose money...

Far better to set good entry reasons and stick to them- remember that you react to the market the market does not react to you!!

thanks for the kind advise!

I like to trade ranges, they are predictable ..... until they aren't. I use a very standard method, perhaps it's outdated, not keeping up with the latest whatever, I have no idea. The pair I'd like to use is the euraud, a big mover with horizontal support and resistance. On the charts you'll see a glaring mistake, I didn't realize it until after I'd cleared my charts that I'd be making this public, instead of marking "retest resistance" I put "retest support", so I hope you can over look that and follow along. The euraud moved out of it's last range at the end of may, a month of pretty much doing the same thing as what it did this june, and will continue to do this july. This last june there were approximately 10 good trades to be had on the pair, ranging from 100 to 300 pips per trade. Here's my first chart


I've marked it off for a complete beginner, or how about just a scalping cowboy trading from the hip. It's got a lot of clutter, I use the 200EMA just for a quicky reminder of where everything is, I use horizontal lines and of course fibs though you can't see them on this chart. I did this on Sunday with a demo, something I haven't bothered to do for a while, but I wanted to show some doubting thomases, and it was lost on them completely. You can see that the range is roughly 300 pips, and when the price comes down from resistance the first time it falls 61% and then reverses for the resistance retest that's 100+ pips, and then the return so double that, the next descent is too support. It will repeat this again if you look, it comes up 61% and then reverses for the support retest, then heads back up to resistance. Pretty simple. I know that the retest reversals are 61% as I measured them though one is 50%. You can go check the euraud right now, it's making it's descent to the 61% point right now, and of course I'm waiting for it to reverse for the retest, will it..... or will it just keep going to support.
If you are looking for instant trades this isn't for you, the chart encompasses a whole month,as does the system, but there's better than 1500 pips in there.

Here's what's happening with the pair right now. As you can see it's heading down to the 61%, London hasn't opened yet. Do remember it can go into consolidation at anytime and just sit there for days, which is also a good trading opportunity if you are using a pair with a small spread.

This next chart is a perfect example of setting your fibs up in the wrong spot, but it looks great. The first thing that set off alarms for me was the fact that the price bounced between 0 and 61%. But I thought I'd show this for clarity.


This next one is what I believe the proper set up for the fibs. I highlighted the mini range where I measured the fibs from in the previous chart. You can see that price has yet to fall down to the 50 or 61% and it's way up there on the 23%, so everything I'm thinking is really a stretch. Check out the nice W pattern.


This next chart was made a four hours after the market opened, of course it never happened but it came close to the 61%,50% will do, as in actual trading I would exit at 50% and enter there on the retest....... I know, close is only good with nukes.


So as I see it, or rather imagine, that a possible new range is being formed. And that's what I'm checking right now and sharing no matter how ridiculous it makes me look.

You might be wondering why I set my fibs to the position that I did, after all according to legend, you pick the lowest point on the chart.


That's because the two proceeding candles are not part of this move, they complete the fib scale which goes back to may, which I posted earlier. I know it's bogus, outlandish, beyond logic, out to lunch, you've never heard anything as stupid as that since the last time you talked to a stoned teenager or one of your inlaws you detest, but there it is. The fibs work, not all the time, but when they do, you can score four good trades, enter at the 23, down to 61, back up to 23, down to 50, back up to 38, just like a machine.

Blessed be hindsight! Never mind that. That's where I set my lines to mark resistance of the previous range which became support for the june range. I thought I'd show the drop down from resistance to 61%.


The conservative trader in my estimation would never trade that. It takes about a week for the price to descend near support and of course this is the tricky part deciding that it's going to head up and not breakout to the downside, that's why you have protective stops. The point being that you are near support, if it's in a range, and that's the way you're trading it, it's not going to keep going down, the next stop is up. But is it going to head up to resistance, so you set your fibs, you enter at 23% or right away depending on your taste for risk, put in stops below support and watch. You can see that it raises to just below 61% and then squeals back to support, yes it squeals. If you keep your fibs there you see it go out below the 23% not quite hitting support, actually about 43 pips from support and it reverses and heads to resistance. Remember entry is 23% once you set up your fibs for each move, that's for the squeamish or rather the ones that one to keep their account to see another day.


The first time you set your fibs it's basically arbitrary, where you believe support is, the rest will be off of past price candles. I've highlighted the next fib measurement making it a bit more obvious. Notice after it hits 61%, it heads back up, from there it will descend to support.


As the time drags on the range begins to weaken or change and this is where you look for momentum indications. In this case the highs and the lows are getting lower, which is a good indication that change is coming.

So I just thought that I'd post this since it went off so quick, and now price is heading up to resistance or so it appears. I shouldn't be too hasty, it could still descend to the 61%, but 50% is where to safely exit this type of trade.

Earlier I posted about the magic of fibs, going from the 23% to 61% then back etc..
Here's a sample with chfjpy, on a four hour chart you wouldn't see this very clearly, and to be honest I'm going out on a limb here because as far as I'm really concerned it's heading back up, but seems to be dicking around here with it's recent reversal. so it hit the 61% and is heading back down to the 23%, this is happening right now as I type. Once it hits the 23% it will reverse to the 50, then up to the 38, then back down to the 50........or maybe not. I have to go workout.

I'm writing on the assumption that the chartists end of trading isn't your specialty, sorry if I'm wrong.
I can understand you risking 40% of your account on a trade or even a number of trades. I mean if you play for a dime a pip, you'll see your great grandchildren before you'll see any serious money come out of your account. They claim, whoever they are, that the market is ranging 80% of the time, so if you insist on trading, then trade ranges. Risk just 2 to 4% of your account on a trade, and that trade should be in the range of at least 3:1, meaning you're going to make 3 times as much as you risk. Even if you're playing the smaller time frames, you need to go to the 4hr, it could tell you a lot before you enter the trade. But if you play the 4hr, winning trades are real winners, 1:1 is not worth it. Which ever side you start off at, put your protective stop beyond that imaginary line of support or resistance, on the other side of the furthest penetrating candle. Once you're in the money, move your stop to beneath the next level of support as price moves forward within the range. Yes the price could reverse, that's why I made a big deal about the retest, when the range is breaking down it will retest a few more times before a breakout. And if you are trading ranges and it starts to trend, you go along for a ride, it's not difficult to have a trade that goes on for months which you then play the drawdowns, so that at the beginning of the trade you entered with a dime and when it comes to an end you're trading for 5 bucks, maybe ten bucks a pip. That's probably one of the best reasons for playing the 4hr range, you get in on the trend at the beginning, I mean besides all the money to be made if you play the range correctly, correctly meaning you made a lot of pips with the fewest possible trades.

I just thought I'd throw this one in, the audusd, check out the fib, the 261% line was right on resistance.

Now if you go back to the stuff that I wrote earlier about the euraud, I nulified the two opening four hr candles for this week in the fib calculation because I said that related to some fib action that goes back to May and those two candles brought closure so when I applied the fibs to what I think is the new move I didn't include them. Now take a look at the Ozyank, my fib scale includes the two opening candles and all of todays move. Why, because the pair still has an obligation (that's what I call it) to move to the 61% of the correction or maybe the 50%. It's right at the 23%, this move could take a few weeks but it's about 270 pips give or take if it goes to 61%. It did get pretty close to the 50% a few weeks ago, but it's back.

love with your setup, Brother .....
You also use the Fibo level, Yup, this is enough to help the process of analysis.

Cheeeerr......

thanks, best of trading to you too.
It cost me a lot of money to learn this.
I mapped this next one out before it hit, double tweaser bottoms on a fifteen minute chart, way more interesting than a 4hr display

Wow, such an awesome thread, same here, turning $100 to $10000, good luck bro

All the best with growing the account.