My Journey from $200 to $200,000 | Forex Factory

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Attachments: My Journey from $200 to $200,000
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My Journey from $200 to $200,000

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  • How many years since You begin trading Forex?
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  • #1
  • First Post: Mar 10, 2017 11:10am Mar 10, 2017 11:10am
Thank You for visiting my first trading journal!

This is my first biggest challenge I made for myself ever since I begin trading Forex. I am a Technical Trader, trying my best to achieve this challenge and I hope for any kind traders who are an expert, familiar, or even just knowing some part of Martingale strategy to give me any suggestion based on your experience, I would really appreciate it!

Kind regards,
Shanks
Greed is good, as long as patience and discipline walk together with it
  • #2
  • Edited 10:19pm Mar 10, 2017 12:38pm | Edited 10:19pm
So here is my EA setup,
Attached Image


These are My daily trading rules,

  1. Plan daily profit
  2. Look for suitable pairs to trade, make sure its in ranging and safe enough from any news intervention
  3. Trading only during specific time. example: opening of Sidney/Tokyo session ~ closing of London session
  4. Let it run to finish his job alone, i wont do my human intervention, it really pisses off my EA
  5. Beware of breaking news with high impact to any of traded pairs, if it happens i would consider to suspend trading (end of trading scenario #1)
  6. or Wait until my EA reach its targeted daily profit (end of trading scenario #2)
  7. or my EA still running even after London session closed, i would stop it with current profit or if possible wait a little longer before New York session closed (end of trading scenario #3)

Here is an example of how it looks in chart,

Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 52 KB


If anyone wants to give suggestion and help me to improve this EA or my trading style/strategy, feel free to request my EA as my gratitude for You so You can try it yourself and give me your feedback. Also feel free if any of You wants to use it to make some money on Live account, Please just make sure to use it on Demo account first, learn how to use it. Once You knew how to use it, then its up to You to decide whether to try it on Live account or not and dont worry because this is absolutely free.

I will share more information about my trading performances next week.
Greed is good, as long as patience and discipline walk together with it
  • #3
  • Mar 10, 2017 12:59pm Mar 10, 2017 12:59pm
Looks interesting but achieving such levels is not easy. It’s seen quite often that people open up threads with similar desires but too often they end up nowhere. However, I definitely hope and wish too that it doesn’t end up like that and you can achieve your target. I don’t know if I could help you, but at least I could simply motivate you. So best of luck.
  • #4
  • Mar 10, 2017 1:07pm Mar 10, 2017 1:07pm
Quoting Fedricks
Looks interesting but achieving such levels is not easy. Its seen quite often that people open up threads with similar desires but too often they end up nowhere. However, I definitely hope and wish too that it doesnt end up like that and you can achieve your target. I dont know if I could help you, but at least I could simply motivate you. So best of luck.
Thank you for your kind words brother,
But please dont say you cant help me, anyone's kind words is a motivation to any others. So, in my opinion you did help me bro, Thank you once again!
Greed is good, as long as patience and discipline walk together with it
  • #5
  • Mar 10, 2017 1:34pm Mar 10, 2017 1:34pm
Quoting Shanks
Thank You for visiting my first trading journal! This is my first biggest challenge I made for myself ever since I begin trading Forex. I am a Technical Trader, trying my best to achieve this challenge and I hope for any kind traders who are an expert, familiar, or even just knowing some part of Martingale strategy to give me any suggestion based on your experience, I would really appreciate it! Kind regards, Shanks
I wish you all the best of luck in your journey to 200K !

My advice:

1. No trading on any GBP pair
2. No trading on any CHF pair
3. No trading during the full day if there is ECB, FOMC (Yellen) or NFP news. Mega candles and sustained trends are Martingale enemies.
4. If trading AUD / NZD pairs, no trading at all during the Asian session if there is CNY news
5. Do not trade highly volatile crosses, such as EURAUD, EURCAD, GBPAUD, GBPCAD, GBPNZD. See screenshot below, I attached the indi for you.
Surprise surprise, look what was the pair the highest lot size your EA traded in your acct history...

Attached Image


As you mentioned yourself, you prefer ranging pairs. The problem is you never know.
IMHO the most intelligent thing you can do is maximize probabilities by sticking to the "rules" above, thus incrementing your equity and being able to support higher lot sizes should you get trapped in a 100 pip trend (without retracement).

All the best, green pips to you !!!

LuXing
Attached File(s)
File Type: ex4 ADR_ ATR_20_Pairs_v3_Sal.ex4   9 KB | 719 downloads
Wisdom begins in wonder
  • #6
  • Mar 10, 2017 6:24pm Mar 10, 2017 6:24pm
Quoting LuXing
{quote} I wish you all the best of luck in your journey to 200K ! My advice: 1. No trading on any GBP pair 2. No trading on any CHF pair 3. No trading during the full day if there is ECB, FOMC (Yellen) or NFP news. Mega candles and sustained trends are Martingale enemies. 4. If trading AUD / NZD pairs, no trading at all during the Asian session if there is CNY news 5. Do not trade highly volatile crosses, such as EURAUD, EURCAD, GBPAUD, GBPCAD, GBPNZD. See screenshot below, I attached the indi for you. Surprise surprise, look what was the pair the...
Thanks for making a post about what not to do since sometimes it's more helpful than what do to. In any case, I can understand generally being apprehensive about CHF crosses on a live account; at least certainly not EURCHF due to its strange appearance in the below screenshots but I'm curious about why GBP is eliminated? Is it only because of the "ranging" requirement or is it something fundamental as it is probably the case with EURCHF?

Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 52 KB


Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 44 KB
  • #7
  • Edited Mar 11, 2017 1:37am Mar 10, 2017 7:22pm | Edited Mar 11, 2017 1:37am
Quoting LuXing
{quote} I wish you all the best of luck in your journey to 200K ! My advice: 1. No trading on any GBP pair 2. No trading on any CHF pair 3. No trading during the full day if there is ECB, FOMC (Yellen) or NFP news. Mega candles and sustained trends are Martingale enemies. 4. If trading AUD / NZD pairs, no trading at all during the Asian session if there is CNY news 5. Do not trade highly volatile crosses, such as EURAUD, EURCAD, GBPAUD, GBPCAD, GBPNZD. See screenshot below, I attached the indi for you. Surprise surprise, look what was the pair the...
Thank you very much LuXing!
That was awesome advices you give me there, and of course i have to make sure to learn more about your kind advice. That was a really helpful information for me, as i think am not a good enough fundamentalist, you help me to know more about it. Man, i cant thank you enough, seriously. Thank You very much!

I hope you are willing to try my EA when its available in the attachment. Thank you once again, please PM me if you need to make request for LIVE version!!
Greed is good, as long as patience and discipline walk together with it
  • #8
  • Edited 9:13pm Mar 10, 2017 8:42pm | Edited 9:13pm
Quoting TGS
{quote} Thanks for making a post about what not to do since sometimes it's more helpful than what do to. In any case, I can understand generally being apprehensive about CHF crosses on a live account; at least certainly not EURCHF due to its strange appearance in the below screenshots but I'm curious about why GBP is eliminated? Is it only because of the "ranging" requirement or is it something fundamental as it is probably the case with EURCHF? {image} {image}
after doing some searching, here is what i found..

on 11th january 2013, i found out that december 2012's CPI m/m fell 0.2% from previous month (december 2012: -0.2% ~ november 2012: -0.3%), and fell 0.4% from last year CPI y/y (december 2012: -0.4% ~ december 2011: -0.7%)

as for what happen to CHF on 15th january 2015, i give up since i only found emergency news and some breaking news, which are only added after the event already happens, i think we need explanation from an experienced fundamentalist trader.
Greed is good, as long as patience and discipline walk together with it
  • #9
  • Mar 10, 2017 8:54pm Mar 10, 2017 8:54pm
Quoting mishacao19
Wow man you doing great! Better cash out your initial investment to trade freely^^
Of course i will do that my friend! Thank you!
Greed is good, as long as patience and discipline walk together with it
  • #10
  • Mar 10, 2017 9:37pm Mar 10, 2017 9:37pm
OMG, I didnt expected this!
Attached Image


Just found out that my "GoldenMidas LIVE" trade explorer was rank 41st on Leaderboard this month!
Well, i know some top traders may think its not a big deal, but to me, this is my first time achieving that, wish me luck guys!
Greed is good, as long as patience and discipline walk together with it
  • #11
  • Mar 10, 2017 11:28pm Mar 10, 2017 11:28pm
Quoting Shanks
{quote} as for what happen to CHF on 15th january 2015, i give up since i only found emergency news and some breaking news, which are only added after the event already happens, i think we need explanation from an experienced fundamentalist trader.
Here is what happened on 15 January 2015 for the CHF:
https://www.forexfactory.com/showthread.php?t=521848

Regarding your EA, my advice is always withdrow from the profit because you never know when the next even like the above would happen. I wish you good luck and I'm happy to help at any time!
  • #12
  • Mar 11, 2017 1:02am Mar 11, 2017 1:02am
the new "El Dorado" is here !

JK
  • #13
  • Mar 11, 2017 1:03am Mar 11, 2017 1:03am
Well since i dont know how to PM multiple person, so here is my reply to any request as of today..
Attached Image
Greed is good, as long as patience and discipline walk together with it
  • #14
  • Mar 11, 2017 1:27am Mar 11, 2017 1:27am
Hi Shanks, One thing I would recommend is to add an Equity Protector to your EA. Set it to a level you are comfortable with. I have traded martingales, grids, pyramids, etc for quite a while and if I had not been using an equity protector I would have been wiped out a few times. It has saved me on a few occasions when those big moves happen.

Withdraw original capital once you have made it and possibly also some more profit and treat yourself to something nice. Then focus on growing account. Remain patient and do not lose focus. I have seen some traders get very gung ho when they have had a consistent run of profits. they suddenly increase lot sizes and pretty soon lose their whole account in one day whereas they would in most cases have survived if they had stuck to original lot size.

Wish you all the best!
  • #15
  • Mar 11, 2017 1:34am Mar 11, 2017 1:34am
Quoting fxwealth
Hi Shanks, One thing I would recommend is to add an Equity Protector to your EA. Set it to a level you are comfortable with. I have traded martingales, grids, pyramids, etc for quite a while and if I had not been using an equity protector I would have been wiped out a few times. It has saved me on a few occasions when those big moves happen. Withdraw original capital once you have made it and possibly also some more profit and treat yourself to something nice. Then focus on growing account. Remain patient and do not lose focus. I have seen some...
Great! Thank you for your idea my friend, i will make sure to have this "Equity Protection" feature available soon.

I hope you are willing to try my EA when its available in the attachment. Thank you once again, please PM me if you need to make request for LIVE version!!
Greed is good, as long as patience and discipline walk together with it
  • #16
  • Mar 12, 2017 1:51am Mar 12, 2017 1:51am
where your stoplosse
  • #17
  • Mar 12, 2017 12:21pm Mar 12, 2017 12:21pm
Quoting TGS
{quote} Thanks for making a post about what not to do since sometimes it's more helpful than what do to. In any case, I can understand generally being apprehensive about CHF crosses on a live account; at least certainly not EURCHF due to its strange appearance in the below screenshots but I'm curious about why GBP is eliminated? Is it only because of the "ranging" requirement or is it something fundamental as it is probably the case with EURCHF? {image} {image}
CHF
As ForexMark pointed out a couple of posts up, in January 2015 the SNB decided to unpeg the CHF.
As a result, many trader accounts were wiped out in couple of minutes. Even some brokers went bankrupt.
Curiously, lately, SNB executive Jordan has repeatedly stated that the CHF is still significantly overvalued.
It is better to be safe than sorry... Scalping a couple of pips in a couple of minutes on a CHF cross is one thing but getting stuck in a 24 hour duration level 10 martingale sequence is far more risky.

GBP
Brexit has caused mayhem.
Brexit is far from being over.
High Frequency Trading machines (making up a significant part of trading volume), driven by news algos make GBP pairs highly unpredictable, even more so during periods of thin liquidity (Asian sesion).
Search for GBP flash crash and you have your answer...

FXwealth is dead right, any martingale EA should have a "handbrake" in the form of an equity protector.
I use an indicator that sends a push notification to my mobile phone if equity < x% of account balance, as a warning.
Tomorrow I will dig it up and post it here.

Cheers,
LuXing
Wisdom begins in wonder
  • #18
  • Mar 12, 2017 3:21pm Mar 12, 2017 3:21pm
Hello.... clearly something changed on March 3rd. as 7 out of 10 pages of history are just the last few days. (And most of the profit has been as well).
For a martingale system that even survived last week - being in any yen pairs - is a good thing. Look what DollarYen has done lately. (Twice in the last two weeks USD/JPY has gone on a straight up trend that would break any martingale that would continue to add shorts beyond available margin). Those are the kind of regular trends that are more likely to cause deep drawdowns in these strategies.

It sounds like you are turning the machine off when it is more likely to be volatile markets. That's good.

I think, turning the martingale machine on right after a big move can be good. Sure beats suffering through a big move with a painful drawdown anyway. Often times the market will rest and range about after a big move.

Having an equity loss max is a good thing. I can see you are excited to have a growing account right now. The martingale approach will grow slow and smash fast. There's no tears in trading. No crying about losses. Just try not to let any one trending pair get TOO far away from you. Godspeed.
  • #19
  • Edited 10:15pm Mar 12, 2017 8:43pm | Edited 10:15pm
Quoting ylabena
where your stoplosse
im basically using hedging when trading on 3 different pairs at the same time. meaning, when 1 or 2 martingale getting caught up in a trend, then the total of 3 hedging on all three pairs will slowing down the drawdown's growth while continuously making profits bit by bit
Greed is good, as long as patience and discipline walk together with it
  • #20
  • Mar 12, 2017 9:05pm Mar 12, 2017 9:05pm
Quoting LuXing
{quote} CHF As ForexMark pointed out a couple of posts up, in January 2015 the SNB decided to unpeg the CHF. As a result, many trader accounts were wiped out in couple of minutes. Even some brokers went bankrupt. Curiously, lately, SNB executive Jordan has repeatedly stated that the CHF is still significantly overvalued. It is better to be safe than sorry... Scalping a couple of pips in a couple of minutes on a CHF cross is one thing but getting stuck in a 24 hour duration level 10 martingale sequence is far more risky. GBP Brexit has caused mayhem....
Helpful answer you got there sir! after reading your post, i know i will feel a little regret for trading CHF today, i should've listen to you and promise this day is the last time hahahha
Greed is good, as long as patience and discipline walk together with it
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