TDs Journal

This is a discussion on TDs Journal within the Trading Journals forums, part of the Reception category; I don't usually trade by hand as I invariably get caught up in the emotions of success (or failure). Last ...

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Old Oct 29, 2008, 10:09am   #106
 
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I don't usually trade by hand as I invariably get caught up in the emotions of success (or failure).

Last Friday I decided to hand trade for the first time in 3 years. I opened up an account with FXCM with an initial balance of $500. After 6 hours of trading (about 40 trades) my balance was over $15k.

A half hour later my balance was back down to $700. Withdrew the original $500, and then drove the remainding $200 into the ground with multiple margin calls.

Now I'm trading a game account at Oanda to see if there was anything to the streak I had. So far, all I can say is that I'm very glad I'm not using real money.
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Old Oct 29, 2008, 10:49am   #107
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Originally Posted by advfntrader View Post
£40 to £1600 !! good going !!

just goes to show how important the 1st few trades are. if you get them right then you boost your account immediately. get them wrong though and wipeout !
The 1st few trades should not be any more important than the 10th or 11th trades, as you should always have enough capital to take at least 20 losses in a row, giving you a 5% equity risk per trade which is still pretty high. TD's journal here was based on £40 he was willing to lose on the first trade as an experiment almost, it was not his main trading account.
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Old Mar 17, 2009, 4:19pm   #108
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The 1st few trades should not be any more important than the 10th or 11th trades, as you should always have enough capital to take at least 20 losses in a row, giving you a 5% equity risk per trade which is still pretty high. TD's journal here was based on £40 he was willing to lose on the first trade as an experiment almost, it was not his main trading account.
why did this thread stop. did he just stop the account ?
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Old Mar 17, 2009, 4:34pm   #109
 
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why did this thread stop. did he just stop the account ?
Yeah, I took a hit - although not too bad - but just stopped trading it and went on to other things...got quite a lot of things on...
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Old May 26, 2009, 1:49pm   #110
 
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I received a £70 bonus from my SB company after recommending them on - something that I do not because I want the money - rather I genuinely think they are good.

At any rate, not long after this came in, almost the same amount came out when I got stopped on a Euro/Jpy trade.

I took the Euro/Jpy long after a brief test of a very weak s/r pivot zone on the weekly. This was a poor setup and something I would never normally have even thought twice about. Still, I did it and it cost me £63 pretty quickly.
Hi Dante, what SB company is this?
Thanks
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Old May 26, 2009, 4:42pm   #111
 
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Hi Dante, what SB company is this?
Thanks
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