A journal of turning my $1.500 into $1.000.000

This is a discussion on A journal of turning my $1.500 into $1.000.000 within the Trading Journals forums, part of the Reception category; Originally Posted by Mr.Emilio Hello! I guess I've missed something: did you actually become a millionaire, as it stands in ...

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Old Dec 30, 2015, 10:05am   #106
Joined Aug 2015
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Originally Posted by Mr.Emilio View Post
Hello!
I guess I've missed something: did you actually become a millionaire, as it stands in the name of this tread?
But from other side you write: "Current balance is 59 815.00"
I didn't get it, I am sorry.
Either way, turning $1500 into $59 815.00 in less than a year and a half is pretty impressive!!
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Old Jan 2, 2016, 7:04pm   #107
 
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I've just come across this thread. Just wanted to say well done and to keep up the fantastic work. I can imagine this thread inspiring a lot of people.
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Old Jan 3, 2016, 4:02pm   #108
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Originally Posted by peti305 View Post
Made +48% profit in December.
Current balance is $88.702

Goal for next year is to keep up my performance (2014: 631%, 2015: 615%), and reach $500.000
All the best for 2016

Now that you are full time I am sure you are 100% committed with your endeavour.

Taking approx. $90k to $250k ( just half your goal) would be a great achievement for 2016 - its gets psychologically more difficult now ( increased stake size and larger losses possible ) but so far its not been an issue with you - so hope you can stay "unemotionally" attached to all your new trades

GL

Regards

F
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Old Jan 4, 2016, 8:06pm   #109
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Amazing thread mate, keeping an eye on this one. Hope it works as well as it been so far. Bring on 2016
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Old Jan 4, 2016, 8:10pm   #110
 
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Do you share your strategy anywhere?
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All things are different before they are easy!
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Old Jan 6, 2016, 1:33pm   #111
 
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Originally Posted by Forexmospherian View Post
All the best for 2016

Now that you are full time I am sure you are 100% committed with your endeavour.

Taking approx. $90k to $250k ( just half your goal) would be a great achievement for 2016 - its gets psychologically more difficult now ( increased stake size and larger losses possible ) but so far its not been an issue with you - so hope you can stay "unemotionally" attached to all your new trades

GL

Regards

F
Actually, I experienced some psychological problem just before reaching $50K.

I literally started shaking when I entered into a few of my trades, because I started to realize I am risking a lot of money now.

I successfully defeated it by started to think that this is not my money.
I invested $1,500 and my money is $1,500 in this. And even if I lose half of my account, its not going to hurt me because of it.

Thats why everybody says never risk more than you can afford to lose.



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Originally Posted by Elisium View Post
Do you share your strategy anywhere?
No, sorry.
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Old Jan 6, 2016, 2:45pm   #112
Joined Oct 2013
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Originally Posted by peti305 View Post
Actually, I experienced some psychological problem just before reaching $50K.

I literally started shaking when I entered into a few of my trades, because I started to realize I am risking a lot of money now.

I successfully defeated it by started to think that this is not my money.
I invested $1,500 and my money is $1,500 in this. And even if I lose half of my account, its not going to hurt me because of it.

Thats why everybody says never risk more than you can afford to lose.

--------------

No, sorry.
That's good if you got yourself sorted out - I had same problem in 2009 and have since never been able to trade above 25 lots + a pip. Nowadays I stay well under 10 lots - mainly because I am over 60 yrs old and don't want to stress myself with palpitations and sweats etc etc- using my onw funds

It took me approx. 6 months to feel comfortable again - and so 1 to 3 lots easy - 5 to 10 lots - stress - so only when I am above my daily weekly targets and if I tried 20+ lots - I reckon I would then start worrying about my own money and of course I would not have my mindset in a proper trading zone - I would just make more mistakes.

If you start getting it again over $120k and say over 20 lots or whatever - just ease back and keep reminding yourself that its worked for over 2 years etc - and losses are just part of the overheads of trading profitably

GL

F
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Old Jan 6, 2016, 8:16pm   #113
 
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Originally Posted by Forexmospherian View Post
I am over 60 yrs old and don't want to stress myself with palpitations and sweats etc etc-

GL
I know what you mean by stress/palpitations ...I'm nowhere near as old as you, but I still experienced palitations when I first started trading...and that was when I only saw gains/losses of only $100.

Trading can be stressful indeed, it's important you learn to control or cope with that stress.
reminds me of the movie Trading Places 1983...in the end.,..when the Duke brothers lost everything, one of them had a heart attack.
Click the image to open in full size.
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Old Jan 7, 2016, 12:03am   #114
 
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If you start getting it again over $120k and say over 20 lots or whatever - just ease back and keep reminding yourself that its worked for over 2 years etc - and losses are just part of the overheads of trading profitably

GL

F
This is exactly what I am doing.
I am not only reminding myself that its worked for 2 years, but its worked in my backtest for another 10.

After entering a trade I usually go away from the computer. I don't even care if I will win or lose a specific trade because I know that statistics are on my side.

Always think about the big picture, and I think you can be stress free too.
You should try it
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Old Jan 7, 2016, 1:41pm   #115
Joined Jun 2015
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Originally Posted by peti305 View Post
This is exactly what I am doing.
I am not only reminding myself that its worked for 2 years, but its worked in my backtest for another 10.

After entering a trade I usually go away from the computer. I don't even care if I will win or lose a specific trade because I know that statistics are on my side.

Always think about the big picture, and I think you can be stress free too.
You should try it
That is the confidence that a well thought out and backtested trade plan (that you make and do yourself) gives you.

Out of interest, how do you go about your backtesting? And how long has it taken you to build this strategy and test it/find profitability?
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Old Jan 7, 2016, 2:19pm   #116
 
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Out of interest, how do you go about your backtesting? And how long has it taken you to build this strategy and test it/find profitability?
I inspected each main curreny pair's behavior after each news events. I tried to find some connection between them, and set up rules to trade them with profit.

If I couldn't generate profit, I threw it away, and started over.

It took me around 2-3years (part time) to build up my current system.

I tried to keep it as simple as possible, and that's why it is far from perfect, but I like the results enough so I decided to not develop it further...yet.
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Old Mar 5, 2016, 3:01pm   #117
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What leverage do you use?
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Old Mar 14, 2016, 12:53pm   #118
Joined Jun 2015
Are you still trading mate? Havent had an update for a few months, hope the account is ok
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Old Oct 4, 2016, 11:14am   #119
 
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Peter,

It's been a while since your last update here - are you a millionaire yet?
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