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Make or Break Year for Petra!

  • #41
  • Aug 12, 2011 2:29pm Aug 12, 2011 2:29pm
Thought I would give an update on my journey.

As this year started, I had 50k committed to my forex trading. I split that sum into 2 accounts.... 45k in my regular more conservative account, and 5k in a very aggressive account.

45k account--- Things have gone well. At the end of July (7 months) my account balance was 71k. I trade the Daily Charts with this account, using 4hr and 1hr charts as fine tune triggers. My shortest trade was 10 hours, and my longest was 17 days.

5K account (high risk)---- I would have done better going to a casino. It only took about 6 weeks for equity to drop below 1k. I withdrew that $700 and took a nice weekend trip with my wife.


I am still trading my main account. I am hoping to have $100k by year's end, but that might be a little ambitious. I will report back by year's end as to how things are going.

Regards,
  • #42
  • Aug 12, 2011 4:02pm Aug 12, 2011 4:02pm
Quoting FX-Petra
45k account--- Things have gone well. At the end of July (7 months) my account balance was 71k. I trade the Daily Charts with this account, using 4hr and 1hr charts as fine tune triggers. My shortest trade was 10 hours, and my longest was 17 days.
Hey Petra! Good to hear from you. Do you know that you have beat your own expectations? I ran some numbers based on your own projections from January.
Quoting FX-Petra
2) Slowly build my 50k over the next 3 years into 100K, trade forex in retirement only looking for 2-3% per month (very conservative)
If you look at the spreadsheet you will see that even though you decreased the size of of your main trading account to the tune of 5000 dollars, you have still managed to outperform your original plan. On the left hand are calculations based on a 45k deposit. On the right are calculations based on the original 50k plan - just for comparison, to see where you would be if you hadn't split the accounts.

Time-wise you are in August (7th month), ahead by 8 to 15 months. Capital-wise, you ahead (see yellow boxes) by 15,600 to 19,300 dollars (based on the 45k starting capital). Congratulations!

Quoting FX-Petra
I am still trading my main account. I am hoping to have $100k by year's end, but that might be a little ambitious. I will report back by year's end as to how things are going.
Good luck! I look forward to hearing from you.
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If you don't risk, you don't ever have to lose.
  • #43
  • Aug 12, 2011 4:18pm Aug 12, 2011 4:18pm
I hate Peta.
  • #44
  • Aug 12, 2011 7:09pm Aug 12, 2011 7:09pm
Quoting bug
Hey Petra! Good to hear from you. Do you know that you have beat your own expectations? I ran some numbers based on your own projections from January.

If you look at the spreadsheet you will see that even though you decreased the size of of your main trading account to the tune of 5000 dollars, you have still managed to outperform your original plan. On the left hand are calculations based on a 45k deposit. On the right are calculations based on the original 50k plan - just for comparison, to see where you would be if you hadn't split the accounts....
Thanks Bug. Yes, I am running a little ahead of schedule. Once I get to 100k, I will re-evalute. If I get there early, I may decide to continue the capital apprecation phase of my trading (instead of income). I am hoping to trade forex to supplement my retirement that is still over 2 years away. Obviously, the bigger I can make my trading "war chest", the better chance I have of securing income from trading into the future.

Regards,
  • #45
  • Apr 1, 2012 1:24am Apr 1, 2012 1:24am
Quoting FX-Petra
Thanks Bug. Yes, I am running a little ahead of schedule. Once I get to 100k, I will re-evalute. If I get there early, I may decide to continue the capital apprecation phase of my trading (instead of income). I am hoping to trade forex to supplement my retirement that is still over 2 years away. Obviously, the bigger I can make my trading "war chest", the better chance I have of securing income from trading into the future.

Regards,
Your posts are encouraging. if i may ask, how did it go at the end of 2011??
Thanks for sharing
  • #46
  • Apr 9, 2012 11:59am Apr 9, 2012 11:59am
To refresh everyone, I started 2011 with an account balance of 50K.

2011 ending balance: 84K and change.

I am a little disappointed with my year end results. Nov and Dec were not kind to me and I took some hefty losses. Such is forex.

I took 14k (and change) off the table and started 2012 with and account balance of 70K. Things have gone slow, but steady in 2012. At the end of March my account balance is just over 86K. Yes, those returns are not that flashy by forex standards..... but I have kept my risk fairly low as well. Still plodding along towards my early retiremenent date, hoping to build my forex account to a level that I can use to generate income in retirement..... and be able to sleep easy at night! I'll update again in a few months.

Good Trades to all.

Regards,
  • #47
  • Apr 9, 2012 12:28pm Apr 9, 2012 12:28pm
Quoting FX-Petra
To refresh everyone, I started 2011 with an account balance of 50K.

2011 ending balance: 84K and change.

I am a little disappointed with my year end results. Nov and Dec were not kind to me and I took some hefty losses. Such is forex.

I took 14k (and change) off the table and started 2012 with and account balance of 70K. Things have gone slow, but steady in 2012. At the end of March my account balance is just over 86K. Yes, those returns are not that flashy by forex standards..... but I have kept my risk fairly low as well. Still plodding...
Hey Petra,

You Seem to be not to impressed with your returns so far this year, In my part of the world just over 20% return in just over 3 months is bloody good...

I'm on 7.58% so far this year and well.....Im really happy with this return...

What's your datum for a good quarter/Year return, and where do you get this bias from ?

Thanks JA.
Memories caught in time but never forgotten
  • #48
  • Apr 9, 2012 2:10pm Apr 9, 2012 2:10pm
Quoting j4d
Hey Petra,

You Seem to be not to impressed with your returns so far this year, In my part of the world just over 20% return in just over 3 months is bloody good...

I'm on 7.58% so far this year and well.....Im really happy with this return...

What's your datum for a good quarter/Year return, and where do you get this bias from ?

Thanks JA.
Forex is not junk bonds, it is a hell of a lot risker.... and more labor intensive. I'm not complaining, but if I were a better trader I would be getting better returns. I am aiming to roughly double my account every year. I will admit that as my account grows, I am becomming more risk averse..... I don't let my winners run as long as I should.

Regards,
  • #49
  • Apr 9, 2012 2:39pm Apr 9, 2012 2:39pm
Hey Fx-P

Not to sure where the bonds quote came into it ?

Forex is not junk bonds, it is a hell of a lot risker.... ???

I just meant, where do you see other traders making better returns than you, over a period of a few years or more, for you to think that you need to do better ?

Yes, those returns are not that flashy by forex standards.

What are these other standards ?

Sorry fXPetra, I'm not trying to be awkward, its just a curiosity thing

All The best.........Ja
Memories caught in time but never forgotten
  • #50
  • Apr 9, 2012 3:54pm Apr 9, 2012 3:54pm
Your returns are awesome man. Making 200-300% or more a year is awesome, especially when you consider the effects of compounding!
  • #51
  • Apr 12, 2012 11:19am Apr 12, 2012 11:19am
Quoting misterboy
Your returns are awesome man. Making 200-300% or more a year is awesome, especially when you consider the effects of compounding!
That is potential returns. I have met with Mr. Disaster before. I'm trying to avoid him this time around. We'll see if my years of experience have taught me anything. Thanks for your comments.

Regards,
  • #52
  • Jan 9, 2013 5:02am Jan 9, 2013 5:02am
Hi Petra,
How is it going with you? Would you mind to share your latest experiences with us? Is your balance growing quickly?

Regards

Brian
  • #53
  • Sep 17, 2013 8:30am Sep 17, 2013 8:30am
Have not given an update in quite a while, so here goes:

Started 2012 w/ 70k in my account. Ended 2012 w/ 124k. I was hoping to double my account every year, but that did not happen in 2012. Looking back, I have made some mistakes in my trades. When I have a string of winners, I get more conservative and start lowering my market exposure. I guess it is like being gun-shy, but in reverse. I seem to anticipate a big string of losers after a series of wins. This thinking has held my total return down..... but it has also put my account at a lot less risk.

For 2013, I took 24k off the table and paid off some debt. Started the year with 100k in my trading account. I will retire at the end of 2014. I was hoping to have at least 300k to trade with when I retire to supplement my income. Not sure if I will get there. As of today, my trading account has 138K.

I'm glad I'm consistently making money from the market. Not making what I had planned, but I suppose I have more mental hang-ups than I thought. To quote Mike Tyson, "Everybody has a plan until they get hit".
  • #54
  • Oct 1, 2015 12:39pm Oct 1, 2015 12:39pm
I have not updated in a long time... so I thought I would take a minute and do so for my friends (and whoever else is reading). I don't spend much time at the factory anymore.... maybe on quick look per week. I don't day trade at all. Most of my positions are held for weeks or months. I have not retired yet. I want 300k in my trading account to supplement my retirement, and I have not reached that level yet. I have, at present, 184k in my trading account. To be fair, that amount would be around 50k higher had I not had to dip into it (for various reasons) over the last 2 years. What can I say.... life happens and you have to deal with it(and pay for it!). I often fight the temptation to increase my risk exposure and try to reach my threshold a lot faster. I must resist that temptation. I have been there, done that, and blown the account.... more than once!! If there is one golden rule I have learned it is this: "Do Not Over Extend Yourself and Trade With Too Much Leverage (risk)!" My goal now is 10%-25% per year return on my balance, and that seems to be achievable.

I'll keep updates going as I near my goal. I hope to be there in another 2 years. I must remain patient.

Good trades to all.

Regards,
  • #55
  • Oct 1, 2015 1:09pm Oct 1, 2015 1:09pm
good luck Petra ..
  • #56
  • Edited 10:11pm Oct 1, 2015 2:17pm | Edited 10:11pm
Quoting FX-Petra
I have not updated in a long time... so I thought I would take a minute and do so for my friends (and whoever else is reading). I don't spend much time at the factory anymore.... maybe on quick look per week. I don't day trade at all. Most of my positions are held for weeks or months. I have not retired yet. I want 300k in my trading account to supplement my retirement, and I have not reached that level yet. I have, at present, 184k in my trading account. To be fair, that amount would be around 50k higher had I not had to dip into it (for various...
Hi Petra. It's nice to see you around, and I'm glad you're doing okay!
  • #57
  • Last Post: Oct 4, 2015 8:08am Oct 4, 2015 8:08am
Hey, just saw updates in this 5-year old thread and I have to say I'm really happy for you man, your performance is in fact very very good! Yes, we always think that we could have done better, but wait, things could be worse too, right?

And thanks for updating the thread with your results btw, it is really great to see that persistence and hard work do bring in some substantial returns!
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