My Forex Journey

[smoove001]

Hi Everyone,
I'm creating this thread to keep my self accountable, I'll be posting all my trades and results starting from today.
I've been trading for almost a year and a half now with no success but didn't put any serious money or time into it as I was busy with other business endeavours .
Now I'm ready as I have a plan and strategy in place with a good risk management. Will only be trading the New York session 12:00 pm GMT to 04:00 PM GMT.

All my trades will have a 3:1 risk reward ratio sometimes more depending on the price action.

Starting capital is 10,000$
Risk per trade : 1-2%

I took a trade today with around a 4:1 reward which was a win. Only risked 50$ for the first trade.

30/05/2020 : +180$

Current capital : 10,180$

 

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[Cosepreziose]

Nice! have you set yourself a limit to how many trades you can take per day?

 

[Aditya Gunjal]

Hi Everyone,
I'm creating this thread to keep my self accountable, I'll be posting all my trades and results starting from today.
I've been trading for almost a year and a half now with no success but didn't put any serious money or time into it as I was busy with other business endeavours .
Now I'm ready as I have a plan and strategy in place with a good risk management. Will only be trading the New York session 12:00 pm GMT to 04:00 PM GMT.

All my trades will have a 3:1 risk reward ratio sometimes more depending on the price action.

Starting capital is 10,000$
Risk per trade : 1-2%

I took a trade today with around a 4:1 reward which was a win. Only risked 50$ for the first trade.

30/05/2020 : +180$

Current capital : 10,180$

Sir i haven't seen forex but i have seen option trading here in india(nifty and all).
Your progress seems good. There are people who became millionaire through options trading. But be careful as we know, we only see sucessful people not the unsuccessful.
Keep an eye on news and big trading institute.

 

[smoove001]

Nice! have you set yourself a limit to how many trades you can take per day?

Yes I do have a 2 Losses per day limit

 

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[smoove001]

Sir i haven't seen forex but i have seen option trading here in india(nifty and all).
Your progress seems good. There are people who became millionaire through options trading. But be careful as we know, we only see sucessful people not the unsuccessful.
Keep an eye on news and big trading institute.

Yea Option trading is pretty popular right now, especially with some young guys showing their 5 digits daily profits from it, I think you can make money from it as you have a good strategy and risk management in place

 

[saint_kilda]

This is cool, looking forward to seeing your journey. Did you create your own strategy or are you following somebody elses?

 

[smoove001]

This is cool, looking forward to seeing your journey. Did you create your own strategy or are you following somebody elses?

I was in a private group, took their strategy then backtested it on previous price action, made some adjustments and created my own.

 

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[Kia Hashemi]

I was in a private group, took their strategy then backtested it on previous price action, made some adjustments and created my ow

Can I Know how your strategy works? Do you use any indicators? what it is all about? Which Timeframes and ...

 

[smoove001]

Can I Know how your strategy works? Do you use any indicators? what it is all about? Which Timeframes and ...

No indicators just price action, I try to go with the flow of the market and then look for my setup which is based on Raid + break of market structure.

 

[Jrjohnny]

#landfill

 

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[theazizmoh_]

Hi Everyone,
I'm creating this thread to keep my self accountable, I'll be posting all my trades and results starting from today.
I've been trading for almost a year and a half now with no success but didn't put any serious money or time into it as I was busy with other business endeavours .
Now I'm ready as I have a plan and strategy in place with a good risk management. Will only be trading the New York session 12:00 pm GMT to 04:00 PM GMT.

All my trades will have a 3:1 risk reward ratio sometimes more depending on the price action.

Starting capital is 10,000$
Risk per trade : 1-2%

I took a trade today with around a 4:1 reward which was a win. Only risked 50$ for the first trade.

30/05/2020 : +180$

Current capital : 10,180$

Why this isn't on landfill?

 

[MJ DeMarco]

I'll be posting all my trades and results starting from today.

Famous last words with a 17 year forum history of similar threads.

I'm gonna create a forum filter that corrects these statements to read: "I'm gonna be posting all my trading wins until I lose a fortune. Then I'll disappear."

 

[Kak]

From experience:

The only way one-click investing whether it be from stocks, etfs, etc ever makes money in the LONG TERM is if you buy solid stuff and basically ignore the fact that you have it for extended periods of time. Like years. Patience is how you game the system. Everyone can click around a few minutes a day in their etrade account with big aspirations, and they do, and they lose.

The best investments you can make are with a sound mind when you don't need the money.

You can try to massage bigger than average returns out of $10k all you want, but the less money you have the harder the massage is and the bigger mistakes you make. $10k on hand isn't enough to make a difference. The risk is asymmetric to the downside as soon as you try to beat everyone.

Make more money in business, and invest what you accumulate the way I just explained it. Or learn the lesson and start 5 years later with less money.

 

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[Antifragile]

$10k on hand isn't enough to make a difference. The risk is asymmetric to the downside as soon as you try to beat everyone.

People read this 100x and it’ll save you from mediocrity.

To win on $10k into financial freedom requires you being smarter than the smartest people in the world who also happen to have access to mega wealth. Odds are so bad, might as well go to a casino and learn to count cards.

 

[Jon822]

I have said for years that one of the most valuable things for people to understand is opportunity cost and this is another great example as to why. Every second you waste pretending like you have a strategy to make unprecedented levels of returns (and maintain them) is time you could have spent building a real business that has value you can't even precisely quantify until its massive exit. I hope you learn this sooner rather than later.

 

[Aidan04]

I have said for years that one of the most valuable things for people to understand is opportunity cost and this is another great example as to why. Every second you waste pretending like you have a strategy to make unprecedented levels of returns (and maintain them) is time you could have spent building a real business that has value you can't even precisely quantify until its massive exit. I hope you learn this sooner rather than later.

Precisely.

There is no "get rich quick", but there is "get rich in a decent amount of time with hard work, focus, and determination".

People may think they have found some trick, some silver bullet or method that will win them financial freedom, when instead they could have been building something real and amazing.

It's just like dating. Many men think they need to play games with women, when really they just need to be confident, non-needy, invested in themselves, vulnerable, honest, and have the courage to approach and talk to them.

There is no "magic one liner", just like there's no secret to making millions on Forex.

Invest in yourself.

 

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[Kak]

Let's also look at the big picture.

100% for annual returns for 3 years, which would be insanely awesome and basically unheard of...

Assuming you spent none of this... Would only net you, before taxes 10k the first year. 20k the second year. 40k the 3rd year.

Come on. Be ambitious. It's free. At even 100 percent returns, waiting 3 years for 40 grand? Ridiculously lame.

Start a business and sell your product to a massive company over and over.