I was originally going to post this in the failures thread, and it could have been one, but I kept persisting. But... I get ahead of myself.
I started trading actively in the past year or so. I lost some money now and again, but this was all chump change.
Around October, I put $750 on cc in a forex account. My 'system' was to trade the news contrarianisticly (copyright- I now own that made up word). If the news was saying xyz was happening due to strong dollar, and it was multiple headlines, then I would bet against the dollar and also if the weak dollar stories were prevalent, then I would bet on the dollar.
I even came on here a few times touting my trading 'system' success. The only thing greater than my arogance in this situation was my ignorance.
Unfortunately, I saw success in the first few weeks. I turned $750 into $1250. So I figured, if I had put 10k in, then I would have had a lot more than 10k. 16k if my math is correct, but it is not always. So that is what I did. I promptly put 10k into my account on a cc with 12 months no interest.
Within about 2 months I had succeeded in turning this into $3500.00. I was literally sick. How could this be? I had a system! How was I going to get back the 7250 I was down? I only had 10 months to rectify this! Many people told me to cut my losses and pull out the $3500. A more sane person probably would have.
Instead, I went to
Home | Forex Trading Online, Currency Trading | CMS Forex (no affiliation) and actually started learning. Boy did my brain hurt that week. Through that I came up with a real system. In a couple months, I had turned my $3500 into $7k.
One of my strategies I use sometimes is to go balls to the wall and use my margin requirement as a stop loss. I leads to great gains if you are right in your charts assessment, but due to greater positions and leverage, it makes it more difficult to weather the 'noise' of the market.
I was in such a mode, trading usd/jpy when the earthquake hit japan. I was long dollar based on my charts. I woke up and my 7k had been margined down a few hundred. I bought long USD again thinking that the devastation would pummel their economy. I got margined out again.
Then I did some historical research as to the effects of major disasters and currency. Turns out the currency typically rises. So I bet hard the other way. At this point my value was about 5k. I saw it go to about 8k, the IMF said they would actively fight the yen appreciation, I reversed course and in less than a week, I had back my 10,750 plus some.
The earthquake time was crazy, but not as crazy as I was when I put the 10k+ in. During my comeback time pre earthquake, and continuing to now, I do not always have access to my trading platform. My seven year olds have become quite good at executing trades for me when I need them to. There is always a slight bit of fear each time till I get home and confirm the trade was put in properly.
I have since pulled out my initial investment and am free rolling. Still growing, and still learning and tweaking my system. There are a few glitches that I need to work out because I am leaving large chunks on the table that I could get with some fine tuning.
All in all, even though it was crazy, I am glad I went balls to the wall for the simple fact that it made me learn how to trade.
caution- do not try this at home. Do not be stupid. learn first, then trade.
I started trading actively in the past year or so. I lost some money now and again, but this was all chump change.
Around October, I put $750 on cc in a forex account. My 'system' was to trade the news contrarianisticly (copyright- I now own that made up word). If the news was saying xyz was happening due to strong dollar, and it was multiple headlines, then I would bet against the dollar and also if the weak dollar stories were prevalent, then I would bet on the dollar.
I even came on here a few times touting my trading 'system' success. The only thing greater than my arogance in this situation was my ignorance.
Unfortunately, I saw success in the first few weeks. I turned $750 into $1250. So I figured, if I had put 10k in, then I would have had a lot more than 10k. 16k if my math is correct, but it is not always. So that is what I did. I promptly put 10k into my account on a cc with 12 months no interest.
Within about 2 months I had succeeded in turning this into $3500.00. I was literally sick. How could this be? I had a system! How was I going to get back the 7250 I was down? I only had 10 months to rectify this! Many people told me to cut my losses and pull out the $3500. A more sane person probably would have.
Instead, I went to
Home | Forex Trading Online, Currency Trading | CMS Forex (no affiliation) and actually started learning. Boy did my brain hurt that week. Through that I came up with a real system. In a couple months, I had turned my $3500 into $7k.
One of my strategies I use sometimes is to go balls to the wall and use my margin requirement as a stop loss. I leads to great gains if you are right in your charts assessment, but due to greater positions and leverage, it makes it more difficult to weather the 'noise' of the market.
I was in such a mode, trading usd/jpy when the earthquake hit japan. I was long dollar based on my charts. I woke up and my 7k had been margined down a few hundred. I bought long USD again thinking that the devastation would pummel their economy. I got margined out again.
Then I did some historical research as to the effects of major disasters and currency. Turns out the currency typically rises. So I bet hard the other way. At this point my value was about 5k. I saw it go to about 8k, the IMF said they would actively fight the yen appreciation, I reversed course and in less than a week, I had back my 10,750 plus some.
The earthquake time was crazy, but not as crazy as I was when I put the 10k+ in. During my comeback time pre earthquake, and continuing to now, I do not always have access to my trading platform. My seven year olds have become quite good at executing trades for me when I need them to. There is always a slight bit of fear each time till I get home and confirm the trade was put in properly.
I have since pulled out my initial investment and am free rolling. Still growing, and still learning and tweaking my system. There are a few glitches that I need to work out because I am leaving large chunks on the table that I could get with some fine tuning.
All in all, even though it was crazy, I am glad I went balls to the wall for the simple fact that it made me learn how to trade.
caution- do not try this at home. Do not be stupid. learn first, then trade.
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