From HKD$3000 to my dream

Hi all, i am a part-time Forex trader from Hong Kong (GMT+8).
I was trading with futures, options and stocks in Hong Kong for a few years.
However, i found it is difficult for me to focus on above trading as i have a full-time job after graduated.
So i started Forex trading 1 year ago.

Now I mainly focus on GOLD, USDJPY, EURUSD, GBPUSD. (recently 95% GOLD)
Which are already more than enough for me to focus on.

Trading style
No daily target, No % target, as i think these only have negative effects on my trade
I use simple technical analysis
I may trade with news (not focus on but not avoiding news)
Mostly use M1 to trade (other time frame to assist)
May scalp

Try to avoid:
1. Trade carry over weekend
2. Trade with more than 2 pairs at the same time
3. Trade use large leverage at 1st position opened

Long term target:
1. Buy an apartment in Hong Kong
2. Become full time trader (or to be more precise: quit my full-time job!)

Feel free to leave any comments or trading views

good stuff. keep going at this rate and you'll own Hong Kong

Impressive figures. Would you like to elaborate on your trading strategy, chart setup, indicators etc?

Yeah I noticed too recently your TE disappeared in top 5, could you give us some insight on your trading style?

Good job 90strader
I hope you can achieve your long-term goals.

haha Things in Hong Kong is just too expensive
and the problem i am facing now is how to keep this rate
as the pressure must be different when trading with $300 compare to $300,000

Yes, i will try to elaborate on my trading strategy later when i have time

My TE appeared again, haha maybe it's a bug on the leader-board?!
i would like to elaborate more on how i trade, but i still cannot think of a good way to present

Thanks!
and good luck to your trade too~

I wish you best of luck on your journey, you can definitely do it !

Thank you~

So let me try to explain my trades today.
I must first state that i hold a bearish view on USD from mid-Dec to coming 1-2 months
So you may find that most of my trade for last month are buying GOLD
But why i sell today?

1. XAUUSD tested 1219 few times but still cannot hold that position --> great resistance
2. USDJPY double bottom on H1 (USDJPY is strongly negative correlated with XAUUSD)

so based on above i assume selling have a better chance to make profit TODAY
But i hold a bearish view on USD in a longer term, so i won't use so much leverage to sell



And this is my chart setup (i have RSI, MACD, DMI on my charts too, but i didn't use them for the trade today)
You may find red lines which are very important.
These are the special positions that every time the price will face strong support/resistance

the first trade is a sell limit set near 1216.7 which you may say not a good timing as the price twisted with low liquidity for the next 3 hrs
the second trade is a sell stop set near 1214.6 when i find SMA10 crossing SMA20 at that time.
At first i set the TP at 1212.6 for the first trade, but i was greedy so i moved the TP to next support 1209.9
but the first attempt to break 1212.6 was failed, so i closed one of the trade to seal some profit first.
and i closed the remaining after the second attempt failed.

Remarks: all the decisions were made in office hour which makes me less willing to enter new position and hold position

Using those red lines again but this time buying!
I probably closed my trades too soon (this is my weakness as i am not patient enough when winning and i always want to TP)

Hi 90strader
Very good results. Congratulation and keep going to achieve your goals!
I have got one question about lot size. I think that it is something wrong with TE.
When I see 0.0005 lot it means that you trade 0.5 lot?
Regards

Yes, it should be 0.5 lot, this is a long time issue that TE cannot show proper lot size when i trade GOLD.
Not sure is it a bug or Forex Factory not quite support to this instrument.

Good morning everyone (yes, it's 9 am here)
I must say that i didn't expect this down trend last night
I must be more careful as mid-term uptrend is not as clear as before now

1214.7
1212.6
1209.9
1207.3
1204.6

Hi mate,

Glad to see a fellow Asian around. Have been following you with great interest and I know what happened (to your trades) after you came back from Japan. No offense intended but I am happy for you that you manage to make such a recovery. Good job really. Your execution on Gold has been really spot on recently.

Just want to say keep it up.

Wishing you to reach your goal an beyond.

BTW the precision of your analysis (in this and other threads) is almost as impressive as your TE.

I hope you'll reach your dream soon.
impressive trade! Subscribed

it seems that you're not using stop losses so the "impressive result" can turn into an impressive loss overnight. I think everyone made 2k% which is not really impressive to me..it can be that you have multiple accounts and you're showing only the profitable one. Sorry if I'm wrong.

The SL can be invisible. It could be a virtual SL. EA inbuilt. However, is SL a guarantee for success?

How about flipping the directions to be FAR MORE IMPORTANT than anything else?

Lets see how mister 90's will do. I wish him best of luck and I hope he buys the whole Hong Kong, soon!