Za7 Blog

Of the 8 trading days we have had, my account has grown 22%. I still have some negative trades, so my focus is still exiting these old trades when price revisits there again so I can’t claim to have it figured out yet. I am still learning everyday and that is my main goal, not the money. But since people are stimulated by seeing big numbers, I try to mix them with a possible lesson to tie them together.

I would like to say that I strongly believe everyone needs their own trading style! Why do I feel this way? It is because I have been working full time, all day, every single day for two years on other people trading systems with little luck. What works great for them is not going to work the same for me. I know many profitable systems that have yielded me very little because I did not feel comfortable trading them. I finally needed to learn the mechanics of price movement and the reasons behind it. I suggest you research why this market moves for yourself, this will give you great insight into the strengths and flaws of the many trading systems out there. I just couldn’t take a trade with any confidence because the indicator tells me so, no matter how many times it worked in the past. I didn’t like the blind decision making. So, learn all you can and do not stop, even after you start making some profit.

June 1-11, 8 trading days: $2687 profit, 22% ROI calculated from last months beginning balance. My nominal size is $2 per pip and when I see trade conditions line up, I will do a $5 per pip. But less often until the negative open trades get closed out and until the account equity reaches a higher and safer level.

These trades are largely due from Cisco and his live trade calls. From watching his trades and studying his trade calls, I have learned quite a lot about how to enter into trades for more profit and most importantly, stop chasing trades! When you see a great trader make zero trades from chasing, you start to modify your own trading. I use the ProFXI signal service as a kind of apprenticeship. I learn and mimic from a great trader. I don’t have all the tools to replicate this amount of ROI on my own just yet, but I hope to one day.

Main Goal: $50,000

Monthly Goal: $15,850 - currently $14,941

As long as I continue studying this market and improving my trading, there is no reason why I cannot continue these results.  Best of luck in your trading!

Adam

This entry was posted on Wednesday, June 11th, 2008 at 10:19 pm and is filed under Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.