A journal of turning my $1.500 into $1.000.000

peti305

Member
54 11
Sorry guys, I have a new internet service provider, and I didn't have internet at home.
Now it's working flawlessly.


Last week's trades:

US Interest Rate

Made a loss,

-15 pips

After it the price turned around...




Swiss Interest Rate

Got out with break even,

0 pips



Norwegian Interest Rate

Made a win,

+30 pips



This week:

German IFO

Made a win

+30 pips
 

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peti305

Member
54 11
I am back.

At September I had a terrible month with -31%, and I worked very hard to make my strategy better.
October I made it back, I had a nice month with +38% profit.

From now on I will only post my monthly statements, because I think only the numbers matters, nobody cares about the individual trades..

My current balance is around $7.000 because November is already in profit.


Attached my statements for Sept and Oct.
 

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Forexmospherian

Legendary member
39,928 3,301
Wow! Good going!


Unfortunately ........ - No its not

So many traders do not realise that if you lose say a third of your account in profit - ie 33 % - then you need a 50% increase to break even

Therefore peti has really wasted 2 months of trading - ie he is worse off now than what he was at start of September

You cannot afford to lose 15% per months - never mind over 30%

I really suggest you start looking into far more advanced money management - otherwise - 3 bad months and you are on a slippy slope that you might never get back up

Also - fine to make 30% + month gains - if you are using under 1% stake size - but anything over 4 or 5% stake size then - accident awaiting to happen.

Trust me - and remember approx 80 -90% of all retail traders fail - give up and lose money.

Improve and fine tune your method and start changing your money management

I wish you well on your journey

Regards


F
 

WklyOptions

Well-known member
269 24
Unfortunately ........ - No its not

So many traders do not realise that if you lose say a third of your account in profit - ie 33 % - then you need a 50% increase to break even

Therefore peti has really wasted 2 months of trading - ie he is worse off now than what he was at start of September

You cannot afford to lose 15% per months - never mind over 30%

I really suggest you start looking into far more advanced money management - otherwise - 3 bad months and you are on a slippy slope that you might never get back up

Also - fine to make 30% + month gains - if you are using under 1% stake size - but anything over 4 or 5% stake size then - accident awaiting to happen.

Trust me - and remember approx 80 -90% of all retail traders fail - give up and lose money.

Improve and fine tune your method and start changing your money management

I wish you well on your journey

Regards


F

Peti,

Agree w F above!

Swings of +/- 30% per month means that your acct has a high risk of ruin!

Redefine, revalidate your trading Edges (if any)!

Slow waaaayyyy down. Reduce bets to 0.5% - 1% of bankroll.

Don't add anymore $$$ unless and until u have demonstrated Edges and rising equity for 2 consec months!

Good luck and do the tasks/work that chronic "non-winners" never do!

Regards,

WklyOptions
 

itspossible

Senior member
2,796 569
Hi Peti i have subscribed to your thread and wish you luck.Have you traded much before this and did you make or lose money.Would you trade again if you lost your starting stake here or would you call it a day.
 

peti305

Member
54 11
Thanks guys for the advices.
I know I am using high risk, but I am fine with it.
I can afford this money to lose, and when I have a bad month I can make it back easily, because of my trading edge.

I am planning to reduce my risk when my equity will be much higher.
 

peti305

Member
54 11
Hi Peti i have subscribed to your thread and wish you luck.Have you traded much before this and did you make or lose money.Would you trade again if you lost your starting stake here or would you call it a day.

Hi,

I traded around 3 years before this year to become profitable.
I am never going to lose my starting money because of my money management, thats why I am not going to quit trading :)
 

peti305

Member
54 11
Dukascopy Bonus Program


I made a minimal deposit of $10 (yes, ten dollars) to my account, because with this deposit I am able to apply to one of the following bonuses:

- 10% bonus on my current equity
- 20% discount from the trading volume comission

I decided to choose the discount from the comission. I will monitor how it is working, and will change to the equity bonus when I think it would be better.

I would be glad to hear if anybody have experience about this bonus program.
 

jotekfinance

Active member
144 9
Wow, thats a pretty good bonus actually. for only $10 bucks.
 

peti305

Member
54 11
November was pretty good, I made +48% profit.
Current balance is $8.862


December is going to be very busy because of Christmas time ahead.
I am planning to make a bunch of money on it.

Attached my statement for November.
 

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alan5616

Established member
873 161
Just come across your thread. Very interesting approach, if fairly high risk for some people.

One key element is your statement that you don't trust any market maker. Anybody trading economic news with a market maker, or spread bettor, is going to get shafted, particularly trading spot forex.

These news releases are manna from heaven to the MMs and SB cos. They will slip your trades, rip you off as much as they can and then tell you that the Bid and Ask prices got out of sync. That's the reason why you lost 50 pips on what should have been a "break even" trade. They can do what they like because it's an unregulated market!


Actually guys, I was thinking of trying out this strategy.

My main problem is, there aren't any ECN broker offering 1:500 leverage and low deposit.

And I don't trust market makers, none of them.
They usually don't allow news trading in the first place.
And when you reach $50k they won't allow to withdraw, because that's just the price for their new Mercedes if you know what I mean... :cheesy:
 
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peti305

Member
54 11
Made a minimal profit at December, +6%



At the end of the year I applied for a special anniversary bonus of Dukascopy,
which doubled my account for only a minimal deposit of $1.
I have one year with this bonus to reach a certain amount of trades, and I probably won't reach it, but until then I can manage the double amount of money, which is more than great for me.


Total profit on my first year: 631,5%
I turned $1.487 into $9.390.
My goal is to reach 1000% at 2015.
 

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Forexmospherian

Legendary member
39,928 3,301
Well Done peti305

A 631 % increase even on a small start capital balance is very good and so far shows good progress.

For 2015 if you are looking for a 1000% increase on your start balance by the end of the year - I think you have set your target too low. If its off your existing balance ( $9+ K - not the $18k double up ) then that would be really great stuff- in fact even a 500% increase on the $9+k would be excellent.

Please tell me - have you had a lot of experience on compounding and do you know your own psychological financial stake "wall" limit - ie - 10 lots - 30 lots - 50 lots per pip etc etc with your own real money ??

I wish you all the best for 2015

Regards


F
 
 
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