The Epic Journey - $2,500 to $1,000,000
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Thread: The Epic Journey - $2,500 to $1,000,000

  1. #1
    haisorcC
    Guest
    I live in New York, USA.

    That is my very first attempt at keeping an internet journal. I have been meaning to do so for a while, for any number of reasons. I feel that this will benefit me about these amounts:

    1) First and foremost, this will definitely make me accountable for all trading choices which are made. This will induce me to be more disciplined and controlled.

    2) It's very good way to keep an eye on my progress for a trader, and will hopefully allow me to identify the type of behavior and decisions which were the very profitable. When I inevitaby hit a tough streak I think that this will ground me and allow me to rethink my current decision making process - and return to what works.

    3) It will giove me some thing to do when there arent any workable commerce setups - and hopefully minimise the temptation to overtrade.

    I have been trading for a fair while, and happen to be in the financial markets as a player and as a professional for a few years now. Im young. I have been to hell and back together with my first trading endeavours in forex, and have learnt all of the big lessons the hard way. Hopefully this reporting medium will help stop me by repeating them.

    That I have lately reimbursed my account - after establishing and blowing out the first one - and - aim to achieve consistent profitability this time around. I have been outside for about 3 months now, and have been working hard on creating a stone solid trading model where I could turn a consistent profit. This methodology will probably flow through the thread through different screenshots and commentaries I will be posting.

    The most important trading errors that I have produced in the past - which we have all battled with in any point, are as follows:

    - Trying to pick tops and bottoms (this typically occurred after taking a reduction )
    - Overpostioning myself right from the start.
    - Adding to losing positions, sometimes repeatedly untill it became ridiculous.
    - Letting a winning commerce become a losing trade (by allowing greed and fear to creep into my plogy. This was frequently acknowledged, nevertheless I was too undisciplined to take action) This frequently led to the point above.
    - Not keeping strong reports and exchange documentation.

    In an effort to combat these frequent trading mistakes, these rules will be adhered . If I anybody finds I violate any, I expect to be ruthlessly berrated:

    1) Risk 5% or less on all trading positions.
    Two ) Never add to a losing position. This differs from climbing in.
    Two ) Always take half off to reach a free trade as soon as 1:1 R/R achieved.
    3) Allow all winning trades to run using my trailing stop method.
    4) If I know depression or unhappiness whilst managing/looking for transactions, close rankings, close trading station, come back tomorrow.

    Discipline is key for me. Once mastered, I will be prosperous.

    Statements will be submitted monthly validating all transaction calls.

    My starting balance is $2504.92 USD. Small, nevertheless 1 year of constant trading will look after that.

    Cheers,

  2. #2
    haisorcC
    Guest
    Wow didnt that occur immediately.

    Trade 4 Result:

    Closed EURUSD long @ 1.5298 to get 21.90 pips loss.

  3. #3
    GaSucar
    Guest
    Quote Originally Posted by ;
    Trade 1:

    This transaction is in progress... It had been taken whilst composing the intro above. I expect to post these calls in a more timely fashion going forward.

    Brief 25,000 USDJPY @ 109.773

    SL @ 109.97
    TP1 @ 109.573 (half )
    TP2 is going to be left open, stop trailed on hourly closes.
    This is a fantastic decision MrDealer, you are already in profit for about 30 pips. What method would you exchange, what makde you to pick up the top this time?

    The reason I am asking, I would like to make $100000 starting with a few thousand. If you understand how to do it, please, share it with me!

    Wish you good fortune,
    Respects,

  4. #4
    haisorcC
    Guest
    Well, I was not trying to decide on a top, I didnt know that it would reverse instantly. I had been selling into what we believe is a relatively good level of resistance, as revealed on the daily chart below (and you will see more bounces, and congestion if you go farther back).

    USDJPY was overextended and I felt that this could be a high likelihood trade in the lower quantity we typically encounter during the australasian/asian session. Notice I took off half when 20 pips in the money to reduce my risk if it turned back up and blew through the level.

    My first TP was done fairly quickly. Inside bar on the hourly so tightening stop to over those bar highs.

    Cheers,

    PS - I wont disclose my model/methods of trading here. Its a 25 page document ive written up. The purpose of this thread isnt to edue - but I will pass on bits and pieces here and there when I could.

  5. #5
    What I am seeing on my chart is 109.01 as being the new support. If that goes, then I am looking down to 108.50. If that holds, it's long city for me personally. I was not expecting the sudden surge in momentum today either.

    Happy hunting chief.

  6. #6
    haisorcC
    Guest
    Quote Originally Posted by ;
    What I'm seeing on my chart is 109.01 as being the new support. If this goes, then I'm looking down to 108.50. If this holds, it is long city over here for me personally. I wasn't expecting the sudden surge in momentum now .

    Happy hunting chief.
    Yeah it was a nice pullback in the level. We are about to get a double inside bar on the hourly close... lets see if it eventuates. I may add tot he place on a break. We'll see.

  7. #7
    haisorcC
    Guest
    Short 25,000 USDJPY @ 109.65

    SL @ 109.85
    TP1 @ 109.45
    TP2 to be left open for now.

  8. #8
    haisorcC
    Guest
    Trade 1:

    TP1 hit @ 109.573, TP2 hit @ 109.538 = internet 21.75 pips.

    Trade 2:

    TP1 hit @ 109.45, TP2 hit @ 109.538 = net 15.60 pips.


    In both cases TP2 was removed by the 1hr 2-bar tracking stop.

  9. #9
    haisorcC
    Guest
    Divergence Playing out on the EURUSD.

  10. #10
    haisorcC
    Guest
    So Also in the Aussie.

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