Wed May 25, 2011 hello guys, i'm just starting this journal to try and have myself held accountable for my forex account. i am hoping to see if i can make it on this tough market and am starting with $4150. i know some may think that this isn't enough buying power but like i've recently posted i'm using a 100:1 leverage. The down fall is that i'm paying quite dearly with the difference in commission. i know a lot of you will say just keep my 4k and buy something with it as this market is one of the hardest way to earn a living but i think i should be able to make a decent living and hopefully turn a big profit on this forex account. I think another reason for opening this journal would be to get some positive input on how to become a better trader. i have to say i usually trade between 30k to 100k lots and do it during all hrs of the day. as i try to trade both the asia and us market. so i'll try to post my trade at times when it's not going crazy and this is just an experiment so hopefully i can keep up to date on this journal. wish me luck.
just made a short trade on eur/usd. short at 1.40872 got out at 1.40722. got out a bit early it seems but just wanted to have a good start with this journal. this was a 100k batch so up 150
you just lost 1k on a 4k account. please stop trading and go on sim, or delevarage until you build up a bigger buffer. most people suffer to save up 5k, then blow it all away within a week on the market. So unless you can replenish that 5k and not have it bother you in the slightest then you should take you trading size down.