A Honest journal

Look folks I'm not claiming to be perfect and sorry if i don't answer your posts right the way. My goal is to become a professional trader not a professional poster.

I spent 3 and a half years from one strategy to the other from one advice to the other and now I trade my own stuff. Since i got it I stopped losing money.

I trade my real account with my real money so I believe it is up to me to decide what to trade.

I appreciate any advice but again I'm in this business long enough, I'm not a newbie anymore I have thousands of hours in front of this freaking screen. i'm here to record my progress ( or failure) so please folks give me a break.

I know I'm tired and grumpy ! 😕

Ok I'm closing my position for +70 pips. It got 5 pips from my 20 TP on the last entrancement. I'm tired and out of focus today, it seems that I'm gambling a bit. profits are always welcome but i'm better stop trading before I sleep in front of the computer and do something stupid.

See you guys tomorrow.

Do you have some totals of your trading? It's really hard to keep track without concrete numbers (pips will do it).

Thanks! 😄

Ok folks. FXbook don't let you update your first post as FF does so I posted on my bio all you guys can possibly ask ( me thinks) so I dont have to answer questions all the time.

I don't mean to be rude but I'm here to register my experience. My possible transition from loser to pro trader not pro poster.

 I'm a father of 4 kids and trying to handle a full time job with a remodeling project and trading so i don't have a lot of time like zero does 😁!

From now on I'm going back to the main reason why I started this thread.

Posting my trades.

Trading for me requires focus, 'lots of focus' so I don't trade with this forum in mind. When i have a minute I than come here and post but my main focus from 5AM to 12PM is trading my account.

I'm not here to give signals, tutor, or prove anything. The only benefit somebody can have from this forum ( in my view) is to see a real person hopefully going from bust to boom.

So please people from now on I'm not gonna waste time on parallel activities.

LOL, Oracle, you do not mean to be rude but you are 😄

If I had my own funds to trade and make living like you do I would not even bother to post anything here at all.
Generally we are both here doing same things. Turning from losing/ break even traders into profitable ones.

Chikot posted:
    LOL, Oracle, you do not mean to be rude but you are 😄

If I had my own funds to trade and make living like you do I would not even bother to post anything here at all.
Generally we are both here doing same things. Turning from losing/ break even traders into profitable ones.

Sorry chikot but as I stated before I'm tired and grumpy today!😑

I'm far from making a living out of my account. I'm still trading 25 cents sometimes less per pip so you get the idea.

I agree with you about people that come to forums. I believe there is only 3 kinds of people coming here.

First- The losers. In this category I will include the newbies too. they come here trying to learn. being there done that.

Second- The break even. I put myself in that category. These are people that have a certain experience and are to the point of making or breaking in the business.

Third- The scammer. People that come here trying to make a buck or two offering illusions to the first group.


In four and a half years I never found a real millionaire posting in forums!

I agree with your classification.
Once someone makes it in trading, he dissapears from forums.
I am trading to make it and to prove myslef to prospective investors. This is the only reason I am here.

Chikot posted:
    I agree with your classification.
Once someone makes it in trading, he dissapears from forums.
I am trading to make it and to prove myslef to prospective investors. This is the only reason I am here.

Honestly i don't see the point in getting 'investors' Chikot. As soon as you start trading big money flying under the radar is a lot more difficult. on top of that having to deal with all these people.

I want to trade my own money be my own boss and don't depend on anybody.

just my opinion.

I will post 5 FX Trades for you between 6:00 AM and 10:00 AM EST in advance of the trade and tell you why I did the trade.

I think that will help you.

Chikot

Riskarb QUIT !!! He removed himself from the contest for the second time now. His drawdown was 99.97 yesterday and today he is gone.

Take care...

For that you need substantial capital to trade with small risk.
I do not, hence I am working on my skills to sell them.

I see nothing bad in having the Boss as long as I am treated well....

TheOracle posted:
    

Chikot posted:
    I agree with your classification.
Once someone makes it in trading, he dissapears from forums.
I am trading to make it and to prove myslef to prospective investors. This is the only reason I am here.

Honestly i don't see the point in getting 'investors' Chikot. As soon as you start trading big money flying under the radar is a lot more difficult. on top of that having to deal with all these people.

I want to trade my own money be my own boss and don't depend on anybody.

just my opinion.

Bruce, I told once no. Isn't it enough?
I am not interested in participating in your feuds with other guys on Oanda forum.
I am also not interested in Forex competitions.
Please ask someone else or use one of your another handles to post this information.

Take care

SirGoodman posted:
    I will post 5 FX Trades for you between 6:00 AM and 10:00 AM EST in advance of the trade and tell you why I did the trade.

I think that will help you.

Chikot

Riskarb QUIT !!! He removed himself from the contest for the second time now. His drawdown was 99.97 yesterday and today he is gone.

Take care...

For TheOracle

I woke up late for me however I want you to look at a 5 minute chart of EUR/USD at 2:00 AM to 7:00 AM.

At 2:00 AM it was 1.4267

At 3:00 AM it was 1.4328

Then look at 5:00 AM when it was 1.4223

That is a pattern that repeats most of the time.

Do you know how the USD/JPY intervention affected EUR/JPY and then EUR/USD

The INTERVENTION had been warned for days.

The above comments can open the door to be a winner if you want to learn and understand.

Oracle, just checked on E/U. That some excellent trading opportunities there. Have not checked pivot points but you must be making killing there.

Sorry guys this remodeling project is taking the best out of me. I'm taking the day off to see If i can rest. my back is killing me😞

Chikot posted:
    For that you need substantial capital to trade with small risk.
I do not, hence I am working on my skills to sell them.

I see nothing bad in having the Boss as long as I am treated well....

TheOracle posted:
    

Chikot posted:
    I agree with your classification.
Once someone makes it in trading, he dissapears from forums.
I am trading to make it and to prove myslef to prospective investors. This is the only reason I am here.

Honestly i don't see the point in getting 'investors' Chikot. As soon as you start trading big money flying under the radar is a lot more difficult. on top of that having to deal with all these people.

I want to trade my own money be my own boss and don't depend on anybody.

just my opinion.

I don't see this way Chikot. If you can maintain a consistent 100 pips per week ( 20 pips per day) five grand is enough to make 2 grand per week.

You will not get rich quick but this kind of income can give you a decent life and the opportunity to save some money and re invest making your capital grow.

About the risk factor. If you can manage a gain or loss of 1 dollar per pip on a 5 grand account you can manage a gain or loss of 20 dollars per pip.

Ok, since i'm not trading today ( just watching the market) i think it would be fun to tell you guys what happen with my first attempt to get some online education about forex.

I was always suspicious about people selling things over the net. I think that if somebody finds something that really works the person will keep it as a secret and use it himself and make money with it. Right?

Well in the forex 'virtual' world it seems to work differently. As soon as people find something that works they want to sell it. Don't you think this is a little bizarre?

Anyways i never spent money buying any robot or system but I did fell for some false 'education' out there.

fxbootcamp had a promotion few years ago to trade with them for one week for 100 bucks. I thought that in one week under their 'expertise' would provide me at least 100 dollars trading so i decided to go for it.

To make a long story short I lost 300 in that particularly week.

I'm not saying that they are a scam but all the education I got from them was a guy telling us all the time that the market was really hard. man! He was repeating this phrase for the whole session.

On the third day I was trading the NY session with them and the couch in charge advised us to short USD/CAD I did and lost quite a few pips. Later watching a video made by their boss Wayne McDonald on the same session, same pair, he was explaining how he made big pips going long USD/CAD, at the same time his couch was telling us to sell the darn thing. I sent him a e-mail explaining the problem and he never got back to me.

Well, I guess i did learn a lesson from them. Never trust on people using old charts.

In their videos they always use the last session charts pointing to their strategy. If they really know how to trade why they don't do it live?

Experiences like this one ended up showing me that i was right on my suspicions. if somebody knows how to trade the person will trade. A trader will make enough money to have a good life, no need to sell something or tutor somebody.

A real trader TRADES !

Oracle, by 5 grands you mean $5000 ? 😲
$1 per pip and 100 pips per week is $100 which is $400 per month. Hardly living income.

To make some living with low risk I think $100000 is a minimum.
Losing streaks happen.
Having skills and trading big OPM funds in my opinion is much better to trade such small amounts.

TheOracle posted:
    

Chikot posted:
    For that you need substantial capital to trade with small risk.
I do not, hence I am working on my skills to sell them.

I see nothing bad in having the Boss as long as I am treated well....

TheOracle posted:
    

Chikot posted:
    I agree with your classification.
Once someone makes it in trading, he dissapears from forums.
I am trading to make it and to prove myslef to prospective investors. This is the only reason I am here.

Honestly i don't see the point in getting 'investors' Chikot. As soon as you start trading big money flying under the radar is a lot more difficult. on top of that having to deal with all these people.

I want to trade my own money be my own boss and don't depend on anybody.

just my opinion.

I don't see this way Chikot. If you can maintain a consistent 100 pips per week ( 20 pips per day) five grand is enough to make 2 grand per week.

You will not get rich quick but this kind of income can give you a decent life and the opportunity to save some money and re invest making your capital grow.

About the risk factor. If you can manage a gain or loss of 1 dollar per pip on a 5 grand account you can manage a gain or loss of 20 dollars per pip.

Chikot posted:
   
 Oracle, by 5 grands you mean $5000 ? 😲
$1 per pip and 100 pips per week is $100 which is $400 per month. Hardly living income.

To make some living with low risk I think $100000 is a minimum.
Losing streaks happen.
Having skills and trading big OPM funds in my opinion is much better to trade such small amounts.

I used 1 dollar per pip as a example of risk management. With 5 thousand dollars you will be able to trade over 2 full lots ( at 50:1 leverage) so you will be able to make 20 dollars per pip.

 I'm not trading 2 full lots yet but lets say i was doing it. I use 20 pips maximum SL so I would risk 400 dollars per trade. lets not consider the psychological side right now. If I keep doing what I'm doing ( around 100 pips per week) I would be able to get 2 grand per week.

I can easily live out of 1000 per week so I theoretically could save a half of what I generate weekly and re invest on my account.

The whole idea is consistency, thats my goal. I plan to scale up from what I'm now trying to be consistent at 1 dollar per pip, 5 dollars per pip, etc till I'm in the 2 full lots range.

I do have an account bigger than 5 grand but i'm using it as a example that if you are CONSISTENT, you can live out of forex with a relatively small account

 

Oh man! This is probably the first time I disagree with you. Trading $5000 with $20 per pip and 20 pips stop loss is suicide. It is 8% risk per trade.
I think with your experience of 4 years you should know better. If you have losing streak with this kind of risk account will drop significantly and stops must be very small and any mistake can deal a mortal blow to account.
I do not have to explain what kind of psychological pressure you will be under. And it is hard to imagine how would you ffeel losing 1,2,3 trades i a row $400 each out of $5000.
The point is to make living from solid capital with small risk to preserve that capital, because once it's gone there is no more money.
I can only proudly say that i have been trading same money since the beginning of 2009. Up and down , but still, i have not added a single $1 since January 2009 till July 2011, when i withdraw $600 from Oanda and added first time since 2009 $500 to trade oil.
I do not have enough money to make a living with small risk but I am hell sure I can develop skills to trade OPM and make money for my clients and have a good life for myself and my family.
Frankly, I feel I still have few small things to perfect and I will be ready.
But I am quite sure I cannot make a living with $5000-10 000. just some small money, probably building it for retirement fund.
I also do not trade Forex but oil. It's a different thing. 10-20 pips stops won't work. I trade mostly with 30 pips stop and it is pretty tight.

BTW, as you are from Brasil, who is your favorite MMA fighter ? 😄