Ok CR, first things first. No trades till you have $2k saved, so you can learn about Excel in the meantime, and do some papertrades, as they are fine for learning the ropes. I still want to see your history, so get going on that. Do you have Excel, and if so, how good are you at using it? J_S
Hi J_Smith, I am not sure if I can compile them to excel now because I have created a new account. I have to look if the logs are still available. Can I post the trades of my paper trade instead, starting from this week onwards? My skills on excel is moderate. Enough for simple calculations, trade logs, etc.
I've been where you are mate, $100 account trading a forex account, still trade forex account. Blow the $100 well down down to $40 margin, reload, try again, until eventually i stopped blowing it, then turned profitable. Added some to $600 ran that to just over $10,000 part time in about 12months, that was 18months ago, barely traded since, spent some, lost some, sitting around 4.5k currently, back profitable trying for 50k end of the year. So trying with in your means, ie making do, is much better than never trying, few years you'll either be down a few more K's or rich relatively, go for it!
Ok, time to get serious then. Forget about your past trades, they are now irrelevant, as you only need concern yourself with what you do from now on. Do you have Excel on your PC, as you cannot do any trades without it, even papertrades. It is very basic stuff, nearly all of it is automated, and all you need to do is decide on when to enter the market, which, of course, is the critical decision. So, a few questions you need to answer, and try get into the habit of replying to what you are asked, ignoring all else, as all it will do is waste time. Do you have Excel, if so, what version, as in year. Are you available to trade from 09.30 to 11.00 New York time. J_S
One main point, just so you are under no illusions. The only guarantee in trading, is that you can lose. If you do not do exactly as I say, you will lose. Even when you do what I say, you will still lose, but you will not lose much, as it will be less than 1% of your capital per trade, but let's not dwell on the less than 1% for now, but you are making it difficult by not having at least $30k. It can still be done with small money however, it just takes a lot longer to make any money worth talking about. When you win, your max gain will be 300%, and this means you will make 3 times more than you lose, for, unless you make this % you will find it very hard to be consistently profitable. The gain may be higher or lower, but on average, we go for the 300%. Oh, I forgot to ask, very important, how old are you? J_S
CR, there is one other person that is currently speaking with me by PM, so instead of me replying to both of you, I will send you an invite. In order to move on, answer the questions, and read the private thread, especially the last post which I will do there now. J_S
I have actually started a new private thread just for this excercise. The private thread is to discuss things that we do not want vendors to see, as many try and dupe others into parting with money, when there is absolutely no need. If at anytime you think I am trying to get money from you, just post it here, as you have my permission. This is not a free for all btw, as it all depends on what a person asks, and how they ask it! Oh yes, and what they have said in the past J_S
Rule #1 if someone is trying to help 9/10 there fake and want your money. Imho, step away, keep working it out yourself, don't listen to anyone 99% lose, the odds are your listening to the 99% sadly.
I tend to agree. @carrer , do you have any proof that @J_Smith is an accomplished trader? Having just discovered this thread, and being familiar now with the poetry that J_S likes to recite instead of just making his points clear, I am suspicious of what exactly he is trying to do. So far, he cannot even explain what 0 +1 -1 means from the other thread, and he writes poetry to try and explain things. If you will actually attempt to learn from this individual, don't you think you need things to be a little more clear? He states above that he wants to see exactly how you are trading, where your entries were, time, P&L, why you entered the trade, etc. which are all good points, but has he shown you any of this with regards to his own trading? Why can he be so specific and direct with actual trades, and be a total prick when explaining something, which is in no way an explanation? He may state that he doesn't want vendors to see what is going on, but could it also not be that he doesn't want others to call him out on the bullshit that he tries to spread? Seriously, what proof do you have that this guy can help you? ET is littered with gurus that teach, and not a single one of them has ever produced a student who trades profitably. Worst of all, no guru has ever produced any evidence that they are trading profitably themselves, never mind even that they have an ability to teach. If @J_Smith wants to put some of these issues to rest, I'm sure you would welcome him sharing this in your journal. When most people apply for a job, they share a resume of their previous work experience and the new company will undoubebtly call the previous employers to verify that this individual was a good employee. I think J_Smith should provide you with some of this before you waste your time.