Jan 6,2016 – Month 1 for FX with Metisetrade 

Images below are actual trades.

After all that’s said and done – 300k ends with 316,500. But the beauty of the journey is on how that destination even came to be as one month proved many learning experiences even if it was still just a month. The key is really consistency since we would be trading larger eventually so it must be on the process rather than just an oversized trade and getting lucky with it.


What you’d notice is that my initial trades were probably buena Mano ; made around 50k realized in just two to three days on a 300k account ; this overconfidence of having successive gains even with only small positions led to me blowing up a loss of 36k after 2 days. I felt I could afford trading large. That of course was a mistake.

Since then ; I reorganized and told myself I will not trade prior to any data release – and keep trading small because as long as I limit losses to 4000 or 5000 maximum and make gains hopefully 10,000 or anything above 5000; I can grind it back up to even.
My responsibility was keeping losses small and just to reenter if I get stopped out. Most of the large gains were of the “add on winners types.”

Also learned that concentrating and focusing even just 3-4 hours in a day of forex would be enough for my trading style of day trading and scalping.
Also I learned that the best trades are during afternoon and night time so in the morning ; I’ve rectified to myself not to trade so much since most are just sideways unless there’s breaking news

I know I could do better and there are so many opportunities to make money in forex. So many ways to wipe you out as well if you don’t respect your stops and position sizes so until I make this account at least 50% up which is my goal ; I will be grinding and grinding upwards

There are days I lose 10k (2-3 consecutive trades of 3k losses) I stop trading for the day unless a clear setup really presents itself

Also noticed that when I make 10-15k gains ; I tend to do “charity trades” which I should lessen.

All in all ; I’d keep updating and will share the portfolio journey even as I top up and go larger. Thanks!

By the way ;  forex traders can join our mini chat group for free – it’s a metisetrade fx group mostly with other traders who help each other find setups all throughout the day 🙂

Trade with us 🙂

Let me know too how I can help by commenting below

– FT


  

                    

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