CC's New Broker Account

c_c405

Well-known member
256 19
I have opened an account with a new broker today
It's a standard account with a $5000 dollar deposit
It's Real Money

The real deal is if they wire my money to me quickly and easily.
I am posting the account set up image - With the first 2 trades made
 

Attachments

c_c405

Well-known member
256 19
Day #2 @ New Broker

Here is the account summary after two days and 3 trades. I lost almost $500 to a 50 pip stop - ARGH! But oh well I think I made up for it with the two trades I'm posting

This is day 2 trading with this broker
 

Attachments

c_c405

Well-known member
256 19
GBP/CHF: Long @ 15270 is up almost 400 pips

After yesterday total drive to the lows I opened a new Long on this pair with a stop set 200 pips below the lowest low.

Today it's up 300+ pips

Given the recent pound weakness I was suspicious of a bounce higher as the pound does like to bounce after a big fall

This basket ball netted me 300+ pips and I'm considering closing it soon I have raised my stop to a profitable stop and I will let it ride unless price action changes.
 

Attachments

c_c405

Well-known member
256 19
GBP/CAD: Long @ 1.7589 is up 200+ pips

I am almost always long on this pair and I have a 200 + pips trade here so far. I have raised and locked my stop to a profitable position and I think I'll let this one ride as well.

3 trades made 1 at a loss of 500$ not to bad
 

Attachments

c_c405

Well-known member
256 19
Closed GBP/CHF Long @ 1.5270 for $3600+ profit

I closed the GBP/CHF Long trade for $3600+ bucks profit
 

N Rothschild

Legendary member
5,296 603
whats your risk control? looks like your risking quite a bit of capital per trade judging by the size of your stops and your profit, from what looks like a 1:1 risk/reward ratio?
 

c_c405

Well-known member
256 19
ARGH: I entered Long GBP/USd at the wrong price!

I entered a GBP/USD long at 1.4649 and set a stop 100 pips below

and in 15 minutes it was hit!

Lost 1000 bucks
 

Attachments

c_c405

Well-known member
256 19
Generally 3:1 / 4:1

whats your risk control? looks like your risking quite a bit of capital per trade judging by the size of your stops and your profit, from what looks like a 1:1 risk/reward ratio?
I take risks that most people would not

Yes these trades were at about 1 or 2:1 but I generally look for really lows or really highs then I set a nice stop to give room for market moves... These days it's moving 100's of pips in a minute!

basically I stick to a 2:1 RRR minimum. I generally trade entries for a longer duration like a weeks/month or so. I look for the 1000 pip trades and my stop are generally 200 pips when the market action is thinner I use a smaller stop.
 

c_c405

Well-known member
256 19
2:1

2:1 as in your risking twice your reward? your heading for disaster..
No I'm generally risking 1 to gain 2 minimum

But sometimes I'll risk 1 to gain 3 or 4 some trades even 10

Not relevant to this thread : I have made plenty of trades risking 2-300 pips and have gained 4000 pips

For example:
USD/CAD Long @ 99.98 - 3000 pips to 1.30 - stop set at 97.98 - Closed trade @ 1.2998
Short USD/CAD 1.2980 Dec 4th ish - Stop set at 1.3298 - closed trade for 1100 pips

GBP/CAD Long @ 1.8253 - Closed at 1.9121 - Stop was set at 1.8053 initially - It climbed to 1.92 and slid back down I closed netting almost 900 pips

GBP/CHF Long @ 1.7482 - stop set at 1.7282 climbed to 1.84 - Closed with 1000 pips profit

From my previous thread : EUR/CAD short at 1.7458 - Stop set at 1.7658 is currently up 500+ pips (this is with an old existing brokerage)

I started this thread to show examples of my trading strategy along with a new account with a broker I thought was good to try. I will trade this account for a few weeks to show members my style and how it wins and loses. When I'm done I will then report how easy it is to get my money out of them or not.

If I stated my RRR incorrectly I am sorry for the error
I look for trades with a minimum of 1 risk 2 reward

Again I'll use stops that most traders wouldn't think of using. I have no problem setting a stop for 300 pips - and waiting for a month for my trade to realize the profits I speculate it will make

This is my style and it comes from experience and hard knox learning that a piddly 50 pip stop is just asking to lose 500$

I always trade 100K lots and each trade never anymore than 1 lot. If i want to add positions I open a new trade.

Those are just some examples of trades I have made - They are not relevant since they were before I found this forum -

I hope that my trades help others learn why small stops = big losses

CHEERS and happy new year Folks!:cool:
 

c_c405

Well-known member
256 19
GBP/USD: Long @ 1.4481 is up 130 pips locked in 50 pip profit stop

I went long on GBP/USD Expecting a bit of USD weekness to show during this month.

My stop was again initially set 200 pips below but I have raised it to lock in 50 pips as this pair may be a bit rocky during it's recovery. For now I'm long and I'm up 130

Will let this one ride as well
 

Attachments