All, I have been reading this board religiously. Thank you everyone for posting here. I just had a question. I started trading forex spot market (through a retail broker) about two months ago with little money of course ( say about 2500 bux). I am not sure if it's luck but I have been consistently making good trades. I have made about 70 trades in two months. Over 65 of them have been positive trades. Because my retail accounts is highly leveraged (about 200 times). I only trade mini-lots, for the fear of blowing out my small account. I am up 44% since I started. To be honest, I think I have found a descent trading strategy. I was wondering if someone can tell me when they started out trading forex, if they experience similar success. And if and when they started putting more money in the account. And if you did put in more money your account, how much more (x times) and should you do it through a retail broker? I really don't mind the spread (3 pips for euro right now), as my strategy doesnt really care about that. Though it does cut into my profit. But at this point, I am really used to the API offerred by this retail broker. And don't reallly feel like switching. So in summary, Do you think this is just a chance that i have been successful? and Should I go ahead with putting in more money in the account? -cman
65 out of 70 trades are sucessful - this is a pretty decent statistics. I think you found a holy grail. Keep doing what you are doing - you are on the right track.
I am sorry but if you have to ask this question your success so far has been luck first of all you probably exaggerated your 65 wining trades we all do it, second I don't know anyone who found decent strategy in 2 months it took me 3 years if you did in couple of months what I did in 3 years you are then a GOD, and my hat is off to ya
Hey, Frankly, I am pretty much in disbelief myself. This is why I am asking a genuine question. Did ppl or do ppl generally experience this when they start out trading. I know a lot of ppl experience losses when they start out with forex. but I have had pretty much success. I think at this point, I will start incrementally increasing my account. I am attaching a report which I generated from my broker for the month of September. I know the profit numbers are all small. But incrementally, they add up as I don't have a lot of money in my account. - cman
How many times do we have to explain that the win-rate is not the only thing that matters? I am a loser in 2 out of 3 trades, yet I hit +25% in September. cMan2005, don't add any more money. Trade what you have. If your system is solid, your account will grow (together with your experience).
First of all Welcome to ET and Thanks for reading. Isn't this site great? As far as your strategy...If you are comfortable with it and have traded it through many different cycles then take the money while you can. Make sure that you are objectivly measuring your success and thus your belief in your method. I have found over the last few years that my systems eventually fail and I must develop new ones constantly...just ask the ET members how many of them I have published here! only to have my dreams dashed! Michael B.
Luck is a moot issue -- you may have traded these past few months "perfectly", but things will change, count on it. If you can keep up with the changes, then you're on to something.