This is a discussion topic which would erase all thoughts that profitable retail traders are non existent or that traders were simply gamblers. I heard it from everyone even my parents. Just look at profitability statistics from brokers.
I will trade a demo account with 500k which you could log into and watch all my trades. I would be doing this just for a few weeks or maybe i'll stop after i double the account. It should be relatively quick. If you have hundreds of millions then liquidity is going to be a problem but on a 500k account ultra profitable trading results like this could be done in a relative short period. Probably less than two months. FYI, i trade eurusd exclusively.
Recently i had my lightbulb moment and i want to share it with all. Now, i can trade any kind of market range or trending because all that i do is trade the price. Its just the same thing...its all about reading orders in the market. I started trading on july 2010 but i have been enamored with the market so i have spent 20 hours per day studying the market for the past 1 year. I don't recommend anyone to do this, i took a break from university to focus on trading. I was a full time business student before i found the market. I would recommend for everyone to finish your study first as it is your plan b in case your trading can't take off. In my case, i have a problem focusing on studies because my passion for the market was too great. I have this great conviction. It was like love but its a rational thing to do. When i started i have nothing but passion.
Eventhough you have an almost perfect understanding/sytem...trading actually requires solid mental strength and it was the biggest obstacle for me. I still am confronting it everyday but i know with experience this would be lesser after a few more months.
I am not yet a successful trader well i'm still young but god willing i know i would make it in the nearest future.
Please post some comments/words of advise below. Also i need to know whether you all are interested to watch me trade. I probably will start tomorrow but i want to see some response first. Do you think it can be done?
Update: Started a live account on 1st October 2012..Owh gosh i am nervous..hahah ;D
Update: The account was depleted by 4th of october. I learned many things the last 4 days. Will not give up!
Update: I have restructured my system. I found that my mm needs to be fixed. I will risk 3.3% per trade. The account should not have big drawdowns as i have a fixed stop in place. If i lose i will lose about 3.3% of the account and if i win my account increase by about 3.3% per trade. There will be several trades per day(depending on market condition)
Update: I am sober. After a long time trying to make 100% per day now i finally am becoming a real trader. I will risk 3.3 or less per trade. Started the account today on 8th of October 2012. Hopefully i would attract a hedge fund or investors throughout the whole planet.
Update: Another account was depleted because of my greediness. Will not give up!
Update: I had another epiphany. Haha i don't how many time i have had this. Reading my previous update i cannot help but to chuckle as now i am again a believer that an ultra profitable trading is possible. 20% to 100% per day is very possible
Update: Although 20% to 100% per day is possible it is very hard to maintain plus the risk involved is huge. I won't try to do it with money i can't lose but anyway seriously it was a good education for me
Update: I don't want to call this an epiphany but i think i am able to control myself better now I will start trading a real live account tomorrow. Wish me luck!
Update: After some careful consideration...my mm per trade will be 2.3%(just slightly above the famous 2% rule).
18/11/2012. Update: I have reassessed my trading strategy and i will risk only 1% per trade. My aim is to reduce drawdown to less than 20%.
21/11/2012. Update: I will start fresh. This time mm will be fixed to 1% per trade. I want to start building a track record for my future. I just want to stop chasing false dreams 100% per day that is not sustainable. Maybe it could be done but just not for me. Trading safely is simple and carefree. I am a good trader just that my previous expectations was wrong. But hey i learnt a lot from all the failures. From now onwards its going to be good trading with good money management that will open serious investors eyes.
25/11/2012. Update: I have transferred my account to another broker. I will trade this account with 2% per trade.
2/1/2013. A new year. I am a skilled trader. Failed many times but it would be worth it. The new account started at 2/1/2013. This new account will be traded using a different approach. Never ever trade on high risk. If you don't manage your risk that is called gambling. This account is being traded at a higher risk than normal.
19/1/2013. Withdrawn and changed the account to reflect new low risk trading style. I had enough of holy grail dreaming. The new account will be traded using 5 currencies with 1:1 rr and 0.5% risk per trade. Every trade must be accompanied with sl and tp. I aim to decrease the drawdown to the absolute minimum. Will start next week on 21st january 2013.
21/1/2013. Made some improvements to the system. Will trade eurusd exclusively.
19/2/2013. A new system.
30/5/2013. Made a new account to reflect new settings/system
6/4/2015. Ultra Profitable trading.
I will trade a demo account with 500k which you could log into and watch all my trades. I would be doing this just for a few weeks or maybe i'll stop after i double the account. It should be relatively quick. If you have hundreds of millions then liquidity is going to be a problem but on a 500k account ultra profitable trading results like this could be done in a relative short period. Probably less than two months. FYI, i trade eurusd exclusively.
Recently i had my lightbulb moment and i want to share it with all. Now, i can trade any kind of market range or trending because all that i do is trade the price. Its just the same thing...its all about reading orders in the market. I started trading on july 2010 but i have been enamored with the market so i have spent 20 hours per day studying the market for the past 1 year. I don't recommend anyone to do this, i took a break from university to focus on trading. I was a full time business student before i found the market. I would recommend for everyone to finish your study first as it is your plan b in case your trading can't take off. In my case, i have a problem focusing on studies because my passion for the market was too great. I have this great conviction. It was like love but its a rational thing to do. When i started i have nothing but passion.
Eventhough you have an almost perfect understanding/sytem...trading actually requires solid mental strength and it was the biggest obstacle for me. I still am confronting it everyday but i know with experience this would be lesser after a few more months.
I am not yet a successful trader well i'm still young but god willing i know i would make it in the nearest future.
Please post some comments/words of advise below. Also i need to know whether you all are interested to watch me trade. I probably will start tomorrow but i want to see some response first. Do you think it can be done?
Update: Started a live account on 1st October 2012..Owh gosh i am nervous..hahah ;D
Update: The account was depleted by 4th of october. I learned many things the last 4 days. Will not give up!
Update: I have restructured my system. I found that my mm needs to be fixed. I will risk 3.3% per trade. The account should not have big drawdowns as i have a fixed stop in place. If i lose i will lose about 3.3% of the account and if i win my account increase by about 3.3% per trade. There will be several trades per day(depending on market condition)
Update: I am sober. After a long time trying to make 100% per day now i finally am becoming a real trader. I will risk 3.3 or less per trade. Started the account today on 8th of October 2012. Hopefully i would attract a hedge fund or investors throughout the whole planet.
Update: Another account was depleted because of my greediness. Will not give up!
Update: I had another epiphany. Haha i don't how many time i have had this. Reading my previous update i cannot help but to chuckle as now i am again a believer that an ultra profitable trading is possible. 20% to 100% per day is very possible
Update: Although 20% to 100% per day is possible it is very hard to maintain plus the risk involved is huge. I won't try to do it with money i can't lose but anyway seriously it was a good education for me
Update: I don't want to call this an epiphany but i think i am able to control myself better now I will start trading a real live account tomorrow. Wish me luck!
Update: After some careful consideration...my mm per trade will be 2.3%(just slightly above the famous 2% rule).
18/11/2012. Update: I have reassessed my trading strategy and i will risk only 1% per trade. My aim is to reduce drawdown to less than 20%.
21/11/2012. Update: I will start fresh. This time mm will be fixed to 1% per trade. I want to start building a track record for my future. I just want to stop chasing false dreams 100% per day that is not sustainable. Maybe it could be done but just not for me. Trading safely is simple and carefree. I am a good trader just that my previous expectations was wrong. But hey i learnt a lot from all the failures. From now onwards its going to be good trading with good money management that will open serious investors eyes.
25/11/2012. Update: I have transferred my account to another broker. I will trade this account with 2% per trade.
2/1/2013. A new year. I am a skilled trader. Failed many times but it would be worth it. The new account started at 2/1/2013. This new account will be traded using a different approach. Never ever trade on high risk. If you don't manage your risk that is called gambling. This account is being traded at a higher risk than normal.
19/1/2013. Withdrawn and changed the account to reflect new low risk trading style. I had enough of holy grail dreaming. The new account will be traded using 5 currencies with 1:1 rr and 0.5% risk per trade. Every trade must be accompanied with sl and tp. I aim to decrease the drawdown to the absolute minimum. Will start next week on 21st january 2013.
21/1/2013. Made some improvements to the system. Will trade eurusd exclusively.
19/2/2013. A new system.
30/5/2013. Made a new account to reflect new settings/system
6/4/2015. Ultra Profitable trading.