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From HKD$3000 to my dream

  • #1
  • First Post: Jan 23, 2017 8:59am Jan 23, 2017 8:59am
Hi all, i am a part-time Forex trader from Hong Kong (GMT+8).
I was trading with futures, options and stocks in Hong Kong for a few years.
However, i found it is difficult for me to focus on above trading as i have a full-time job after graduated.
So i started Forex trading 1 year ago.

Now I mainly focus on GOLD, USDJPY, EURUSD, GBPUSD. (recently 95% GOLD)
Which are already more than enough for me to focus on.

Trading style
No daily target, No % target, as i think these only have negative effects on my trade
I use simple technical analysis
I may trade with news (not focus on but not avoiding news)
Mostly use M1 to trade (other time frame to assist)
May scalp

Try to avoid:
1. Trade carry over weekend
2. Trade with more than 2 pairs at the same time
3. Trade use large leverage at 1st position opened

Long term target:
1. Buy an apartment in Hong Kong
2. Become full time trader (or to be more precise: quit my full-time job!)

Feel free to leave any comments or trading views
  • #2
  • Jan 23, 2017 9:04am Jan 23, 2017 9:04am
good stuff. keep going at this rate and you'll own Hong Kong
  • #3
  • Jan 23, 2017 11:20am Jan 23, 2017 11:20am
Impressive figures. Would you like to elaborate on your trading strategy, chart setup, indicators etc?
  • #4
  • Jan 23, 2017 1:13pm Jan 23, 2017 1:13pm
Yeah I noticed too recently your TE disappeared in top 5, could you give us some insight on your trading style?
  • #5
  • Jan 23, 2017 3:01pm Jan 23, 2017 3:01pm
Quoting 90strader
Hi all, i am a part-time Forex trader from Hong Kong (GMT+8). I was trading with futures, options and stocks in Hong Kong for a few years. However, i found it is difficult for me to focus on above trading as i have a full-time job after graduated. So i started Forex trading 1 year ago. Now I mainly focus on GOLD, USDJPY, EURUSD, GBPUSD. (recently 95% GOLD) Which are already more than enough for me to focus on. Trading style No daily target, No % target, as i think these only have negative effects on my trade I use simple technical analysis I may...
Good job 90strader
I hope you can achieve your long-term goals.
"You may say I am a dreamer .... but I am not the only one."
  • #6
  • Jan 23, 2017 6:52pm Jan 23, 2017 6:52pm
Quoting hilmy83
good stuff. keep going at this rate and you'll own Hong Kong
haha Things in Hong Kong is just too expensive
and the problem i am facing now is how to keep this rate
as the pressure must be different when trading with $300 compare to $300,000
  • #7
  • Jan 23, 2017 7:20pm Jan 23, 2017 7:20pm
Quoting johnsmith2nd
Impressive figures. Would you like to elaborate on your trading strategy, chart setup, indicators etc?
Yes, i will try to elaborate on my trading strategy later when i have time

Quoting MoneyBusines
Yeah I noticed too recently your TE disappeared in top 5, could you give us some insight on your trading style?
My TE appeared again, haha maybe it's a bug on the leader-board?!
i would like to elaborate more on how i trade, but i still cannot think of a good way to present
  • #8
  • Jan 23, 2017 7:32pm Jan 23, 2017 7:32pm
Quoting guesser
{quote} Good job 90strader I hope you can achieve your long-term goals.
Thanks!
and good luck to your trade too~
  • #9
  • Jan 24, 2017 2:45am Jan 24, 2017 2:45am
I wish you best of luck on your journey, you can definitely do it !
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #10
  • Jan 24, 2017 6:27am Jan 24, 2017 6:27am
Quoting michisuperfr
I wish you best of luck on your journey, you can definitely do it !
Thank you~
  • #11
  • Jan 24, 2017 7:20am Jan 24, 2017 7:20am
So let me try to explain my trades today.
I must first state that i hold a bearish view on USD from mid-Dec to coming 1-2 months
So you may find that most of my trade for last month are buying GOLD
But why i sell today?

1. XAUUSD tested 1219 few times but still cannot hold that position --> great resistance
2. USDJPY double bottom on H1 (USDJPY is strongly negative correlated with XAUUSD)

so based on above i assume selling have a better chance to make profit TODAY
But i hold a bearish view on USD in a longer term, so i won't use so much leverage to sell

Attached Image (click to enlarge)
Click to Enlarge Name: Y170124.PNG Size: 36 KB


And this is my chart setup (i have RSI, MACD, DMI on my charts too, but i didn't use them for the trade today)
You may find red lines which are very important.
These are the special positions that every time the price will face strong support/resistance

the first trade is a sell limit set near 1216.7 which you may say not a good timing as the price twisted with low liquidity for the next 3 hrs
the second trade is a sell stop set near 1214.6 when i find SMA10 crossing SMA20 at that time.
At first i set the TP at 1212.6 for the first trade, but i was greedy so i moved the TP to next support 1209.9
but the first attempt to break 1212.6 was failed, so i closed one of the trade to seal some profit first.
and i closed the remaining after the second attempt failed.

Remarks: all the decisions were made in office hour which makes me less willing to enter new position and hold position
  • #12
  • Jan 24, 2017 9:03am Jan 24, 2017 9:03am
Using those red lines again but this time buying!
I probably closed my trades too soon (this is my weakness as i am not patient enough when winning and i always want to TP)

Attached Image (click to enlarge)
Click to Enlarge Name: Y170124-2.PNG Size: 16 KB
  • #13
  • Jan 24, 2017 12:23pm Jan 24, 2017 12:23pm
Hi 90strader
Very good results. Congratulation and keep going to achieve your goals!
I have got one question about lot size. I think that it is something wrong with TE.
When I see 0.0005 lot it means that you trade 0.5 lot?
Regards
Attached Image
I`m limiting my Risk & trying maximize my profits.
  • #14
  • Jan 24, 2017 6:37pm Jan 24, 2017 6:37pm
Quoting DAX-Trader
Hi 90strader Very good results. Congratulation and keep going to achieve your goals! I have got one question about lot size. I think that it is something wrong with TE. When I see 0.0005 lot it means that you trade 0.5 lot? Regards {image}
Yes, it should be 0.5 lot, this is a long time issue that TE cannot show proper lot size when i trade GOLD.
Not sure is it a bug or Forex Factory not quite support to this instrument.
  • #15
  • Jan 24, 2017 6:52pm Jan 24, 2017 6:52pm
Good morning everyone (yes, it's 9 am here)
I must say that i didn't expect this down trend last night
I must be more careful as mid-term uptrend is not as clear as before now

1214.7
1212.6
1209.9
1207.3
1204.6

Attached Image (click to enlarge)
Click to Enlarge Name: Y170125.JPG Size: 80 KB
  • #16
  • Jan 24, 2017 10:25pm Jan 24, 2017 10:25pm
Hi mate,

Glad to see a fellow Asian around. Have been following you with great interest and I know what happened (to your trades) after you came back from Japan. No offense intended but I am happy for you that you manage to make such a recovery. Good job really. Your execution on Gold has been really spot on recently.

Just want to say keep it up.
  • #17
  • Jan 24, 2017 11:18pm Jan 24, 2017 11:18pm
Wishing you to reach your goal an beyond.

BTW the precision of your analysis (in this and other threads) is almost as impressive as your TE.
  • #18
  • Jan 25, 2017 2:43am Jan 25, 2017 2:43am
I hope you'll reach your dream soon.
impressive trade! Subscribed
Risk comes from not knowing what you're doing.
  • #19
  • Edited 3:39am Jan 25, 2017 3:02am | Edited 3:39am
it seems that you're not using stop losses so the "impressive result" can turn into an impressive loss overnight. I think everyone made 2k% which is not really impressive to me..it can be that you have multiple accounts and you're showing only the profitable one. Sorry if I'm wrong.
  • #20
  • Jan 25, 2017 3:25am Jan 25, 2017 3:25am
Quoting HeyYou
it seems that you're not using stop losses so the "impressive result" can turn into an impressive loss overnight.
The SL can be invisible. It could be a virtual SL. EA inbuilt. However, is SL a guarantee for success?

How about flipping the directions to be FAR MORE IMPORTANT than anything else?

Lets see how mister 90's will do. I wish him best of luck and I hope he buys the whole Hong Kong, soon!
Maadik Hugiis. IQ 69.
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