I trade my own account for a living. Tell your story | Page 26 | Forex Factory

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I trade my own account for a living. Tell your story

  • #501
  • Dec 24, 2013 5:28pm Dec 24, 2013 5:28pm
Quoting jamesr24
A short true story. A few years ago my partners and I developed an EA that arb the forex, jumping in and out taking little bites out of the market. We opened a live $50,000 account at fxdd after being promised that their feed and platform they were offering was a true ecn with no interference, so off we went and started running our program. Within a few hours it was working like an atm machine giving out money, then all the sudden we started getting lags on our execution. FXDD SWORE they weren't doing anything but it was obvious they were. We eventually...
James, I had a very similar experience. I left the forex game altogether years ago and started trading futures. Living the dream ever since! Unlike forex, my broker is not my counterparty, many FX brokers claim not to be, but they actually are. Unlike forex, my futures trades take place on the exchange. I can post limit orders and see them on the exchange. Unlike forex, if I take liquidity, there are laws in place that force my broker to get me the best available price.

Getting back to the topic at hand, I moved from the east coast to the west coast (USA) to trade in the morning (5amPST/8amEST), and then I work a 9am-5pmPST day-job after trading. I don't have to work. I make a lot more trading than I do at my job (and I have a very decent job), but I like to keep busy. Maybe one day I'll start a thread documenting my trading methodologies.

Best of luck to all of you.
  • #502
  • Dec 27, 2013 3:32pm Dec 27, 2013 3:32pm
To achieve have some success in the forex market should be constant, regardless of whether we carry it completely or not.
  • #503
  • Dec 27, 2013 5:12pm Dec 27, 2013 5:12pm
Quoting melaniehamil
To achieve have some success in the forex market should be constant, regardless of whether we carry it completely or not.
To allow for comprehension of point you're trying to make, please try reading what you wrote out loud and decide if it is actually written in the language you think it is before posting it.
  • #504
  • Jan 2, 2014 7:14pm Jan 2, 2014 7:14pm
Quoting Nefser
{quote} To allow for comprehension of point you're trying to make, please try reading what you wrote out loud and decide if it is actually written in the language you think it is before posting it.
lol
  • #505
  • Jan 4, 2014 8:09am Jan 4, 2014 8:09am
Quoting MJFinnegan87
{quote}I left the forex game altogether years ago and started trading futures. Living the dream ever since!
What do you think would be the minimum starting capital to start trading futures ?
  • #506
  • Jan 4, 2014 8:23am Jan 4, 2014 8:23am
Quoting tradista
{quote} What do you think would be the minimum starting capital to start trading futures ?

Many Many years ago, it was $2000 USD, I used to trade the DOW symbol YM $12 per point SCAREY, which is the smallest area futures go.

$500 margin requirement to trade 1 contract.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #507
  • Edited 11:40pm Jan 4, 2014 8:33am | Edited 11:40pm
http://www.tradestation.com/products...n-requirements

E-MINI S&P 500 Symbol ES ( Initial Margin $4,510 - Maintenance $4,100)


Quoting tradista
{quote} What do you think would be the minimum starting capital to start trading futures ?
SPC * Swollen PocketZ Crew!
  • #508
  • Jan 4, 2014 10:29pm Jan 4, 2014 10:29pm
Quoting tradista
{quote} What do you think would be the minimum starting capital to start trading futures ?
That depends on what you are trading, possibly your broker, and if you are daytrading or position trading. I'll give you an example:

Margins are set by the exchange so E-mini S&P500 futures require initial: $4510 and maintenance: $4100 from the CME's site: http://www.cmegroup.com/trading/equi...nce_bonds.html

....However, some brokers will let you get away with as low as $500 margins if you promise to close out all your positions by the end of the trading session. I don't want to come across as advertising any particular broker but there are a lot out there if you just look. Or feel free to PM me if you want to know the name of the broker I use.

You don't have to trade stock futures. There are many different futures you could get into such as: Copper, Silver, Gold, Crude Oil, Nat Gas, Rice, Coffee, FCOJ, Wheat, Soybeans, Euro futures, Yen Futures, AUD Futures, the list goes on. The product you trade will determine your margin requirement - some are a lot higher and some a lot lower than the ~$4.5k required on e-mini S&P500 futures. The products available to you will be determined by your broker. Stock futures are very popular products to trade, but in my opinion there are easier products to make money on.
  • #509
  • Jan 6, 2014 2:37pm Jan 6, 2014 2:37pm
thanks guys. Will soon give it a try.
  • #510
  • Mar 28, 2014 7:36pm Mar 28, 2014 7:36pm
Quoting tradista
{quote} It says everything!!
very good my friend it nice words i think like this allways as a truck driver i´m traing to get there one more time ; ) nice forum
Scalping
  • #511
  • Mar 31, 2014 5:03am Mar 31, 2014 5:03am
Quoting guguxpto
{quote} very good my friend it nice words i think like this allways as a truck driver i´m traing to get there one more time ; ) nice forum
thx my friend! Drive safely.
  • #512
  • Apr 22, 2016 3:47am Apr 22, 2016 3:47am
Quoting swingtraderf
You guys are delusional, its impossible to generate a steady income out of FX without having a few hunderd K in your trading account.
why so negative?, it is possible to do this, as i do it!

Do you trade full time?

This is why i dont hang around forums too much as there is too much negativity you read garbage like this comment and you soon start to believe it.

This thread was started in good faith and positive vibe, you came in and just trashed it. Hence i would suspect you don't have any success in fx trading or you just will say to me that you do, while you just sit by your computer all night and hammer all threads.

I started my account with $500 i had a plan i was trying to make 10% return per week, some weeks i was positive some weeks i lose but im still ahead. I know some of you might say this is impossible and yes some weeks you win some you lose, but i am that good at picking my entries that it works for me.

I turned that $500 into $25k in 1 year, but only going for 10-20 pips per day.
I have a couple of guys who i work with who i met in forums like this.
We work together and implement our price action strategies.
I don't trade every day also, as this is can be a recipe for disaster, you need your system to work for you, stay disciplined have a plan and stick to it.
I did test this for over 6 months i had been dabbling in forex for nearly 3 years before it started to work for me.

So guys it is possible, just have a plan.
Try to find someone "POSITIVE!" who might give you some help. not like this clown who im quoting.
Open a demo account and test.

Also i would have to say, price action was the key for me, i tried every indicator, every system and failed.
Price action is where its at.

Ive gone a bit off my reply here, but just sick of negative shit from guys who have no idea but sit down all day and hammer those who are really trying to be positive and give something to people.

My two cents
  • #513
  • Sep 3, 2016 1:14pm Sep 3, 2016 1:14pm
Very encouraging. I believe it.
Be humble or be humbled.
  • #514
  • Edited 2:32pm Sep 3, 2016 2:29pm | Edited 2:32pm
My story is full of losses when I was self-taught and working full time at a super stressful teaching position working with emotionally disturbed 5th and 6th graders. I used the money from the job to try, and try again. I saved money, and quit the job though I could have stayed. This is due to the fact that it is impossible to trade here in Hawaii and hold down a job because the session times are the say they are here.

In the end, or rather the beginning one thing has shone above all else for success --- it is that I focus on one part of one session and ignore the rest. See how I do that below. It might help you.

I am living on savings and a pension I earned from staying as long as I did at the job. It doesn't cover my expenses. It would have, had I stayed, but I could not stand the job any more. What I saw about the children in public school tore my heart daily. I could not help them in the real ways I would have preferred to use. One of them is spiritual; the other is training certain of them, or at least cluing them in, about forex.

Very little to make me happy. Has always been the case with me.

My account has grown because now I am not over trading, or operating solely on limit orders.

I am pulling out a small amount as soon as my account is large enough to just sip on it; at present I do not have to rush. By sipping I mean withdrawing just a small amount.

What helped me most was gaining an understanding of the different activities and amount of force, in various sessions. I had an idea about this subject before I quit the job but it did not become practical until I quit. I deal with Frankfurt open through 2-3 hours max into London. I was never able to do that before. I am blessed to use the fact that the pound in all pairs tends to make its high or low of the day during those hours. Of course there is one exception or rather two: central bank during NY, and black swan any time. These are extremes.

But this activity is the absolute favorite thing aside from walking, people (though less forced contact with disturbed people by far than formerly as a teacher - thank Goodness- ), and deepening my traditional pre-Vatican II Catholic approach to religion.

Trading is an excellent way to learn all about your own version of original sin. Unless we are aware of our tendencies as a trader we cannot be profitable.
  • #515
  • Sep 4, 2016 4:04am Sep 4, 2016 4:04am
Quoting tassos78
{quote} why so negative?, it is possible to do this, as i do it! Do you trade full time? This is why i dont hang around forums too much as there is too much negativity you read garbage like this comment and you soon start to believe it. This thread was started in good faith and positive vibe, you came in and just trashed it. Hence i would suspect you don't have any success in fx trading or you just will say to me that you do, while you just sit by your computer all night and hammer all threads. I started my account with $500 i had a plan i was trying...
500 to 25k in 1 year. I admire that however any black swan event and you're over and possibly even in debt with broker... It's a disaster waiting to happen. Look at the CHF decoupling. I know of a trader who lost her house and a lot of other peoples money over that.

Realistically you need 50k in your account and enough money on the side to live off for the next year if you want to start growing an account sensibly and eventually withdrawing from it to cover living costs... and even then you will be only living a standard lifestyle.. but at least you don't stand the risk of being screwed over by black swan.

It is possible to grow an account quickly, and you see a lot of guys on this forum an others who don't use a stop loss and hold on to losers only to be saved by luck. It's just not sustainable in the long run.
  • #516
  • Sep 4, 2016 4:40am Sep 4, 2016 4:40am
hi, this is my story.
i am a full-time trader. i trade equities, futures and forex. i started as a forex trader before venturing into equities and futures.

blew 2 accounts before being consistent in my trading. (forex)
having 50% drawdown twice in one account and made it back each time. (forex)

i blew my first account before i know how to trade. that is stupid. i learned something from this, that is to read the market.
blew my second account, it taught me to reconsider my risk parameter and position sizing.
first 50% drawdown due to trade too many pairs at the same time and my mental capacity cant cope with that, and cut my losses. just after that, the market turns. it taught me to pick less pairs to trade and having full preparation before taking any trade.
my second 50% drawdown, i trade against the big daily trend and cut my losses too late. i learnt not to trade against the daily trend unless it fit in my risk parameters.

i am now trading comfortably and profitably.
i guess, the best thing is to learn from your mistake.
  • #517
  • Sep 4, 2016 9:19am Sep 4, 2016 9:19am
I always have a chuckle at these kinds of posts. My sense is the majority of traders that have made it are busy trading and out enjoying their pips. I can't imagine why I'd be on these forums encouraging people with stories of my success and giving away the tricks of the trade when I get to the goal post.
  • #518
  • Sep 4, 2016 9:49am Sep 4, 2016 9:49am
Quoting tradista
{quote} I don't think having dreams and goals in life, being energized and focused makes you delusional.
For me, the main point of micro-trading is to learn and acquire the mindset and the psychological skills that you will never grasp by demo trading forever
Love this.
I personally plan to make this my living... Been at it 10 odd years on and of, but is now finally at the point where I only have 1 EMA on my chart only trading EURUSD, and trade from my mobile making a consistent daily profit. Already living the freedom of being a "retail trader" but still need the day-job... For now
  • #519
  • Sep 4, 2016 10:22am Sep 4, 2016 10:22am
Quoting Commander
I always have a chuckle at these kinds of posts. My sense is the majority of traders that have made it are busy trading and out enjoying their pips. I can't imagine why I'd be on these forums encouraging people with stories of my success and giving away the tricks of the trade when I get to the goal post.
Not all traders are day traders or scalpers. Some of those that trade longer term will get some time to spend in the forums but it does make me chuckle when I saw someone post that they are trading for a living with 2% per trade, 2% a day or turning a few hundreds to a few hundred thousands or any other funny massive returns. They are either just starting to have a few weeks or months of huge profits or totally delusional.
  • #520
  • Sep 7, 2016 2:32pm Sep 7, 2016 2:32pm
Hello friend, I am Anindya. I am new in forexfactory and I find this portal is very helpful for traders. I want to be a trader because it is my dream. My desire is not like that I want to be a billionaire or Millionaire in one year, I just want to be a successful trader. I gave lots of effort in last three years to develop a perfect strategy. Even I think about forex chart when I go for sleep in Night. Thus I spend lots of sleepless night just to develop my strategy. After overcome lots of hurdles I have reached to a favorable destination that assures me profit. Yes that was my only aim in initial stage of my trading. However I am a Demo trader, I do not have live trading experience. I am an Indian citizen and It is very disappointing for me that Forex trading in Major Pairs isn't permissible in my country. So that sitting at my home I can't start my trading career in major pairs. I need to go any other country where it is permissible. My preferred locations are USA, Australia or any European country. If any one interested to help me, please guys PM me. Thats all about my incomplete story.. Thank you...
Simple way Is the most advance way
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