Backstory

The Beginning: 

It was summer of 2014 when I decided to learn about Forex and opened up my first demo account via FXCM. Never had prior experience with analyzing charts and it was a new experience learning the macroeconomics behind the charts. I started off as a scalper, then grew into a swing trader. In the efforts to find my holy grail I began adventuring off and decided the best way was to get my feet wet and learn through trial and error. Traded from timeframes from 1m to 1 day, ventured off trading in different market openings (Sometimes as early as 2 a.m for Euro opening), trading all sorts of pairs from the majors to minors, and even dealt with advanced harmonic trading.

A couple months passed and I slowly began to get a feel for this capricious market. Although I was certainly not a pro, I was finally turning those losses to breakeven or even profits. Even though I read all those comments on how it takes about 1-2 years of trading to see minor results, I knew I needed to go live to take my trading to a new level and progress. On October 1st, my birthday, I turned 20 and wanted to do something significant. I allocated $2,000 from my savings and opened up my first Live account on October 15.

Unfortunately, from October 15 to today, I saw my net worth range and even dip to -50%. My worst day was about a $300 loss on a NFP news release on November 7th. I was still growing as a trader and one thing I had to learn while trading live was dealing with human psychology. Although I had a rough start on my first live account, I still have no regrets. Even with a loss of about $1,000 I gained so much knowledge than I would have on my demo account.

Present:

Now, I still consider myself a semi-amatuer trader however, I learned a whole lot more from when I initially opened may account. Join me in my journey, my highs and lows, to ultimately become a successful forex day trader. My trades will be completely transparent win or lose. They say this “game” has a failure rate as high as 95%, let’s see how far I can push myself to the limits and may the odds be in my favor.

Advertisements

2 thoughts on “Backstory

  1. Hi, I have left a post asking a couple of questions and I have the answers here. Like I mentioned, FX is not for me, I see volatility and basically gambling one way or the other, there are so many factors that influence FX that its very difficult to judge. Personally I am interested in growth stocks. Little known stocks which have growth potential in growth markets can easily turnaround profits of 30%, but over the medium term. I have highlighted two recent stocks I have invested in and made roughly 27% each. Furthermore, there’s no need to monitor these stocks every second of the day as they are slow growing stories. Please feel free to have a read if you are interested.

    Like

    • Yup, completely agree. Forex has it’s pros and cons compared to stocks, but in the end I guess it comes down to the trader. I would say the best way to trade Forex is with an account that’s much greater than mine. Only reason why I’m having such difficulties trying to grow my account is because I want large profits while trading a small amount.
      Although there are many factors that affect prices, FX is still stable enough for dedicated traders to make consistent money. Definitely not an easy feat, however, there’s much enjoyment, at least for me, trading the FX markets. I actually don’t mind sitting down for hours day trading, it makes it feel much more like a job and is very engaging. I personally prefer to day trade rather than leaving a trade open for days or weeks.

      Liked by 2 people

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s