Make or Break Year for Petra!
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Thread: Make or Break Year for Petra!

  1. #1
    I will give it anyway, although I'm not sure if this can help anyone.

    As many of you know, I have been trading FX since 2002. I have created and lost a lot, multiple occasions. 2009 was my very first, right up (No B.S.ing myself) profitable year. I started at Feb. 2009 with 5K, also finished in Dec. with 28k. It was a lot better before the Euro took a nasty dip in the end of Dec., but that is water under the bridge. 23k in profit for 1 year. I know that's not a massive amount by most traders standards... and even 2 years ago I would have scoffed at this paltry sum... but Mr. Market has since humbled me and my expectations. This is going to be a pivotal year for me. I have cashed in my profit and'm starting over with 5k. If I can put 2 profitable decades together, I might consider committing myself more exposure to the market. If I can't put together, after all this time, I must seriously consider that I just cannot trade the FX market profitably, over a long time horizion. I'm not a newbie, and this is nowhere close to my 1st rodeo. Sooner or later, I have to set up or shut up. I will do it or I can't. This season can answer those questions for me.

    I'm swing trading Daily charts on multiple pairs-- any pair which has a fantastic daily tendency that I can swing commerce.

    I'm writing to encourage traders. This game is tough.... I am really hard! Mr. Market does not care how smart you're, how hard you work, or how badly you want it. Sooner or later, Mr. Market will present his brutal ass to everybody... he is no respecter of persons. I have been at this for 7 decades and cannot say that I have it figured out. I hope for 2010 we can keep working and molding ourselves, and at the end of this calendar year we will be a little better at trading than when the season started. I need all traders the best for 2010 and beyond!!!!!

    Kindest Wishes,

  2. #2
    Thought I would give an update on my journey.

    As this year began, I'd 50k committed to my forex trading. I split that amount into two accounts... 45k within my regular conservative account, and 5k at a really competitive account.

    45k account-- Things have gone well. In the end of July (7 months) my account balance was 71k. I trade the Daily Charts on this account, utilizing 4hr and 1hr charts . My shortest trade was 10 hours, and my greatest was 17 days.

    5K account (high risk)-- I would have done better going into a casino. It just took about 6 months for equity to drop below 1k. I withdrew that $700 and took a wonderful weekend trip with my spouse.


    I am still trading my primary account. This might be a little ambitious, although I am hoping to have $100k by year's end. I will report back by year's end as to how things are moving.

    Regards,

  3. #3
    Quote Originally Posted by ;
    45k account-- Things have gone well. In the end of July (7 months) my account balance was 71k. I trade the Daily Charts with this account, utilizing 4hr and 1hr charts as tune triggers. My commerce was 10 hours, and also my longest was 17 days.
    Hey Petra! Great to hear from you. Do you know that you have beat your own expectations? I ran some amounts based on your own projections from January.
    Quote Originally Posted by ;
    2) Slowly build my 50k over the subsequent 3 years into 100K, trade FX in retirement just looking for 2-3% per month (very conservative)
    when you look at the recorder you will see that even though you diminished the size of your main trading account to the tune of 5000 dollars, you've still managed to outperform your original strategy. Are calculations according to a 45k deposit. Are calculations based on the original plan that is 50k - for comparison, to see where you would be if you hadn't divide the accounts.

    Time-wise you are at August (7th month), forward by 8 to 15 weeks. Capital-wise, you beforehand (see yellow boxes) from 15,600 to 19,300 dollars (based on the 45k beginning capital). Congratulations!

    Quote Originally Posted by ;
    I am still trading my main account. I am hoping to get 100k by year's end, but that might be somewhat ambitious. I will report back by year's end.
    Good luck! I look forward to hearing from you.

  4. #4

  5. #5
    Quote Originally Posted by ;
    Hey Petra! Great to hear from you. Do you know that you have overcome your own expectations? I ran some numbers based on your own projections from January.

    When you examine the spreadsheet you are going to understand that even though you diminished the size of your principal trading account to the tune of 5000 dollars, you have managed to outperform your initial plan. On the flip side are calculations based on a deposit. On the right are calculations based on the initial 50k plan - only for comparison, to see where you would be if you hadn't divide the accounts....
    Thanks Bug. Yes, I'm running a bit ahead of schedule. I will re-evalute After I get to 100k. When I get there early, I might decide to continue the capital appreion phase of my trading (instead of earnings ). I am hoping to trade forex to supplement my retirement that is still over 2 years away. The larger I could make my trading war chest, the better chance I have of securing income from trading.

    Regards,

  6. #6
    Quote Originally Posted by ;
    Thanks Bug. Yes, I am running a bit ahead of schedule. Once I get to 100k, I'll re-evalute. When I get there early, I might choose to continue the funds appreion period of my trading (rather than earnings ). I am hoping to trade Currency Market to supplement my retirement that is over 2 decades away. Evidently, the larger I can make my trading war chest, the better chance I have of securing income from trading into the future.

    Regards,
    Your posts are encouraging. If I may ask, how did it go at the end of 2011??
    Thank you for sharing

  7. #7
    To refresh everybody, I began 2011 having an account balance of 50K.

    2011 ending balance: 84K and alter.

    I am a little disappointed with my year end effects. Dec and nov weren't kind to me and I took some losses. Such is Currency Market.

    I took 14k (and change) off the table and began 2012 together and account balance of 70K. Things have gone slow, but stable. At the end of March my account balance is over 86K. Yes, those yields aren't that flashy by Currency Market criteria.... But I have kept my risk fairly low as well. Still plodding along in my ancient retiremenent date, hoping to construct my Currency Market account into a level I can use to generate income in retirement.... And also be able to sleep easy! I will update in a couple of months.

    Good Trades to all.

    Regards,

  8. #8
    Quote Originally Posted by ;
    To Combine everyone, I began 2011 having an account balance of 50K.

    2011 ending balance: 84K and alter.

    I am somewhat disappointed with my year end results. Dec and nov weren't kind to me and I took a few losses. Such is forex.

    I took 14k (and alter ) off the desk and began 2012 together and account balance of 70K. Matters have gone slow, but steady. In the end of March my account balance is simply over 86K. Yes, those yields are not that gaudy by forex standards.... However, I have kept my risk fairly low also. Still plodding...
    Hey Petra,

    You Seem to be not to pleased with your returns so far this year, In my part of the world just over 20% return in just over 3 weeks is damn good...

    I'm on 7.58percent up to now this year and well....Im really pleased with this return...

    What is your datum for a good quarter/Year return, and where would you get this prejudice from?

    Thanks JA.

  9. #9
    Quote Originally Posted by ;
    Hey Petra,

    You Seem to be not to impressed with your returns so far this season, In my section of the planet only over 20% return in only over 3 weeks is damn great...

    I am on 7.58percent so far this season and well....Im really happy with this return...

    What's your datum for a fantastic quarter/Year return, and where do you get this bias from?

    Due JA.
    Forex isn't junk bonds, it is a hell of a lot risker.... And more labor intensive. I am not whining, but if I had been a better trader I'd be getting better yields. I am aiming to roughly double my account every year. I will acknowledge that as my account grows, I am becomming more risk averse.... I don't let my winners run so long as I should.

    Regards,

  10. #10
    Hey Fx-P

    to not sure at which the bonds quote came into it?

    Forex is not junk bonds, it's a hell of a lot risker...???

    I just supposed, where would you see different traders earning greater yields compared to you, within a period of a few years or more, for you to believe that you need to do much better?

    Yes, those yields are not that flashy by Currency Market criteria.

    Which are these other criteria?

    Sorry fXPetra, I am not trying to be awkward, its just a fascination thing

    All The top....Ja

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