Prachait - Live - Trading Accounts - Journal

Hello to everyone here |
I am creating the thread to track my Live Accounts on Exness, with the following objectives |

1. Learning Trading insides |
2. Understanding on Forex |
3. Enhancing Skills |
4. Sharing all the three here for everyones use |
5. Placement of Orders |
6. Leverage |
7. And many others |

I invite everyone to share there views as Criticisms, Comments, Suggestions, Recommendations and what ever you think to come here |

http://www.myfxbook.com/members/prac...244-usd/980717
http://www.forexfactory.com/prachait/44

And signal at https://www.mql5.com/en/signals/80643

More will be coming |
Welcome to you again - Prachait

Greetings,

After emptying my previous accounts for 3 times in 6 months due to high leverage and stop loss,
I read many posts in the forum on leverage, stop loss and take profits with order size, I started again
with 81 USD Balance + 7 USD Bonus from Exness |

Now, I have 101 USD as Balance and variable equity |
Points I learned till now |

1. Order Size 0.01 Lots ONLY
2. Leverage 50:1 Or as many as minimum can be done, I am trying my best to achieve 20:1
3. NO Stop Loss, Let the order comes itself in profit
4. Set the Take profit with 100 Pips to get 1% , 1 USD as auto profit increase with balance
5. Keep an eye on equity
6. Diversify with multiple currency pairs, following link with have the information
7. https://docs.google.com/spreadsheets...it?usp=sharing
8. Ask question in the forum, share and learn

The posting here will be based on the Live Trading accounts with real money |
I personally recommend to through as may as question is possible with different variety,
Let me {Prachait} learn with answering them |

Thanks |

10 Days Learning :

1. Order comes to profit with time |
2. Increase the balance with minimum 1% per day |
3. Waiting till equity drawdown come back to 20% if it has increased |
4. Think always of the profit and concentrate on Take Profit

Prachait

Today, I am looking forward for all orders to get closed with profit |
The exciting week ahead with up and downs in the pairs |

Will be looking forward to trade in other pairs, as looking forward to trade in all 81 Pairs in the current month |

This works |

Hi,

After working on Demo a/c's and learning, Just restarted the live trading with
17500 INR ~ 280 USD.

With 0.01 Lot, per order for every 300 USD.
Working on EURUSD pair only.

Prachait

New year started |
Looking forward for the payments in Jan - Mar by US Govt for buying for the year.

This will drop the USD Value and EURUSD is available for the buying.
1.1950

I purchased 0.02 lots in Jan @ 1.18500 and looking forward to complete the order by 1.19500

Prachait

Since on 22 Jan 2015, EUR Central Banker said in news, to buy back the Govt Debit bonds, it estimated that EUR and USD both will print money to make there economy better, and this race will make it to ration 1:1


Goldman Sachs forecasts EURUSD at 0.9 at the end of 2017:
“We are revising down our forecast further today, to 1.14, 1.11 and 1.08 in 3, 6 and 12 months (from 1.23, 1.20 and 1.15 before). We are also revising down our longer-term forecasts, bringing the end-2016 forecast to 1.00 (from 1.05) and that for end-2017 to 0.90 (from 1.00),” GS Projects.

http://www.forexcrunch.com/eurusd-at...ted-forecasts/

EUR/USD Buy 1.1787 1.1203 0.01 5:1 -16.7% -$59 -585 1.0650 (553) 1.1900 (698)
EUR/USD Buy 1.1850 1.1203 0.01 5:1 -18.4% -$65 -648 1.0650 (553) 1.1900 (698)

To compensate the loss of above 2 order, the hedging is started with following 2 order willl a stop loss and take profit at 0.07.

EUR/USD Sell 1.1163 1.1207 0.02 10:1 -2.5% -$9 -44 na 1.0700 (507)
EUR/USD Sell 1.1205 1.1207 0.02 10:1 -0.1% -$0 -1 na 1.0700 (507)

Also there will be income between the level.

Over all target as of now to get 15% 50 USD as profit and close all the orders for fresh start.

Some of the readings that helped me to progress :

Steve Nison, Japanese Candlestick charting techniques, (and all other Steve Nison Books)

Thomas N. Bulkowski, Getting started in chart patterns. (Then you can also read his Encyclopedia)

Carolyn Boroden, Fibonacci Trading

Frost and Prechter, Elliott Wave Principle : Key to Market Behavior

Mark Crisp, 7 habits of a highly successful traders

With Google you can download all this books for free in PDF format.

GL

Learning 10-Jun-2015

1: Lot Size 0.01 till 3000 USD that per 3000 USD 0.01 Lot Size
2. Distribute orders among 6 Currency Pairs with 8 Orders each {4 buy and 4 sell on each currency pair}
3. Distance Between each Sell order is 250 pips or 2500 points and Take Profit is 275 pips or 2750 points
4. Total Maximum Orders 6 {Currency Pair} * 8 {4 Buy and 4 Sell }= 48 Orders even both BUY and Sell is open

5. Maximum Pips Down 6,000 pips ON 3000 USD
6. Maximum Drawndown 20%

7. Setup ONLY take profit


Thanks, Prachait

good luck on your journey, the best teacher is ourself.

Thanks |

Hi prachait

Can you please tell me how you funded your account from india. please.

Hi, I did NOT fund my account from India, as Indian Govt RBI did not allow it to transfer out for forex.
Cheers |

Then how do we do it any input is much appreciated.

Learning 14-Jul-2015

1: Lot Size 0.01 till 5000 USD or per 5000 USD 0.01 Lot Size

2. Distribute orders among 8 Currency Pairs with 8 Orders each {4 buy and 4 sell on each currency pair} Open and Pending Both
3. Distribute orders among 8 Currency Pairs with 8 Orders each {2 buy and 2 sell on each currency pair} Open only

4. Total Maximum Orders 8 {Currency Pair} * 8 {4 Buy and 4 Sell }= 64 Orders for both BUY and Sell is open and pending
5. Total Maximum Orders 8 {Currency Pair} * 4 {2 Buy and 2 Sell }= 32 Orders for both BUY and Sell is open only

6. Distance Between each Buy order is 250 pips or 2500 points and Take Profit is 275 pips or 2750 points
7. Distance Between each Sell order is 250 pips or 2500 points and Take Profit is 275 pips or 2750 points

8. Maximum Pips Down 8,000 pips {1000 pips per currency pair} OR 650 USD 13% of the equity Draw down
9. Maximum 2% draw down per order

10. Maximum Drawn down 20% as a/c account, that means 10 Open Orders

11. Setup ONLY take profit with 100 pips per order each time.

12. Monthly Earning 10% of the balance as starting of the month, which is withdrawal for the month
13. Above 10% will be the increase in capital

14. Trade 3 Major Pair and 5 Minor Pair each time

Happy trading ....
Thanks, Prachait

Learning 13-Oct-2015
*** Major Update: Order Placement only with One direction with positive swap ***

With trading from 14-Jul-2015 to 14-Aug-2015, I got 10%+ return with 0.05% loosing funds on negative swaps.
So, did the major change in
1: avoiding hedging and negative swaps orders.
2: increase in number of pairs of trading

Following are the steps
1: Write down all the currency pairs exchange is allowing the trading
2: Write down maximum and minimum range of the pair from last 11+ years (origin of pair) and calculate the mean of it
3: Write down the positive swap direction example: EURUSD - SELL ORDERS, NZDUSD - BUY,
4: Get the mean of the max - min level and setup the order

Following are 3 Examples
EURUSD - 1.6037 1.2134 0.8230 - Mean i 1.2134
Place all the sell orders between 1.6x to 1.0182 Only
Below 1.0182, avoid the pair with sell orders
Buy order will have a negative swap

AUDZND - 1.3793 1.1906 1.0019 - Mean is 1.1906
Place all the sell orders between 1.3793 to 1.09625 Only
Below 1.09625, avoid the pair with sell orders
Buy order will have a negative swap

NZDUSD - 0.8834 0.6367 0.3900 - Mean is 0.6367
Place all the buy orders between 0.3900 to 0.6367 Only
Below 0.6367, avoid the pair with buy orders
Sell order will have a negative swap


Same way do this for all the pairs the exchange is trading.
Positive swaps gives 10%+ per year return on the equity on hold / draw-down
Earn with positive swaps also.

=========================================================
Lastly the final updates

1: Lot Size 0.01 till 5000 USD or per 5000 USD 0.01 Lot Size
2. Distribute orders among 32 Currency Pairs with 4 Orders each {4 buy or 4 sell on each currency pair with positive swap only} Open and Pending Both
3. Distribute orders among 32 Currency Pairs with 2 Orders each {2 buy or 2 sell on each currency pair} Open only
On calculation of the positive swap and currency sum up game, the currency pair get reduce from 32 to 16 at one time.

4. Total Maximum Orders 16 {Currency Pair} * 4 {4 Buy or 4 Sell }= 64 Orders for both BUY and Sell is open and pending
5. Total Maximum Orders 16 {Currency Pair} * 2 {2 Buy or 2 Sell }= 32 Orders for both BUY and Sell is open only

6. Distance Between each order (Buy or sell) in one direction is 360 pips or 3600 points and Take Profit is 180 pips or 1800 points

8. Maximum Pips Down 8,000 pips {1000 pips per currency pair} OR 650 USD 13% of the equity Draw down
9. Maximum 2% draw down per order
10. Maximum Drawn down 20% as a/c account, that means 10 Open Orders
{Normally, Drawn down 20% as a/c account, that means 20 Open Orders as average will be 1% per order on positive swap}

11. Setup ONLY take profit with 100 pips per order each time.

12. Monthly Earning 10% of the balance as starting of the month, which is withdrawal for the month
13. Above 10% will be the increase in capital
14. Trade 3 Major Pair and 5 Minor Pair each time combination to 32 pairs

15. No Stop Loss Usage, Control the margin with money management and low lot size
16. Leverage 1:5 on average and always less than 1:10

=========================================================
Currency is a Sum Zero game, and I wrote this above points based on my understand on 1 1/2 year of live trading.

With next update, I am add the Astro {Sun, Moon and Planet} Movements and its effect on country, currency and currency pairs.

For more details, send me a private message.
Happy trading ....
Thanks, Prachait

Hi,
It has been a year from my last post about a plan. Following are the results from live account for public analysis and subscription.

Personally, I am satisfied with trading results.

Forex Reports
https://www.exness.com/monitor/real2_account/529244
http://www.myfxbook.com/members/prac...244-usd/980717

For Subscription or Copy
https://www.mql5.com/en/signals/80643
http://www.signalstart.com/analysis/...9244-usd/12770

Journal and Learning
http://www.forexfactory.com/prachait/44
http://www.forexfactory.com/showthread.php?t=498328

Thanks, Prachait

Hi Prachait

My trading style similar you I start account 1000 USD and trading small lot size 0.01 and account grow 50% after 4 month. the key our system lowest leverage, no stop loss and try to entry in best price. my max draw down only 7%.

Keep going