Targeted Day-Profit: 6,42 $
Achieved Profit: 11,52 $
Targeted Cash Balance: 187,37 $
Current: 182,32 $
Achieved Profit: 11,52 $
Targeted Cash Balance: 187,37 $
Current: 182,32 $
Report of booked trades wil follow as soon as possible.
2009-11-25
Day 18 - "Patience, money and time bring all things to past"
Today was the first day I could actually trade this week, since I had to do a lot of work for my studies. I was blessed with a profit of 13,94 $ which put me back on a good account position. Im now just 5,05 behind my plan. I will as allways give my best to reach the target.
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My Name is Arslan im an architecture student living in Germany. Since the young age of 15 I've been interested in trading stocks and recently I started trading the FOREX market aswell. Since I like challenges I thought it might be interesting to try trading 100 $ into one Million $ in the short period of one year. Neither do I consider myself a "Inverstment-Guru" nor do I follow some fancy secret methods of such a person, rather I stick to the 
6 Kommentare:
Hi,
Im a trader with about 5 years experience, making money consistently. From my point of view you are hugely overleveraging your account (risking too much in other words) which leads to margin call (sooner or later - no exception). But maybe Im just old-fashioned mug. Im very curious about the result of this experiment :)Im your fan, keep it up!
referring to his strategy; he mentioned he'll only risk 3-5% of his capital.
the way things are going i think he'll quiet Uni and become a full time trader. seriously would u?
i'm also thinking about switching to FX trading from spread betting. which books have u read to prepare u for FX and which sites do u visit?
thanks
3-5% of capital could be 1pip or it could be 100pips. I was talking about risk in terms of real leverage. By risking 3-5% of capital and having 10 open positions with total real value of $10k with account little over $100 is way too much. I saw too many guys failed trying to beat the market with 3-5% risk so I AM skeptical about this one. But you never know in trading arena. That's why Im rooting for this guy :)
Soyy guys for my late response, obviously something went wrong when i posted the answer few days ago. I thought it were posted :/
@Zdenek, I dont think that your "old-fashioned mug" as far as I can tell :) Your right, it is pretty risky wen you trade multiple positions no matter how small the risk-percentage is (when there are to many trades at the same time). I try to avoid this situation and it went well so far for me. I know that a lot if not the most traders fail beacause of the mentioned issue, and Im aware of this. Btw I would never try to beat the market, i rather try to get along with it ;)
Im however thankfull for your wise opinion and for beeing interested in my project Sir :)
@Ethio, I dont know about the Uni thing :) there are still many bucks to to make untill this point is reached ;)
The Books I would recommend are listed under the "learn trading" button (above).
Regards,
Arslan aka DaytradeMillionaire
As far as I can say, you behave in rational way, you have plan and you're doing your best to stick with it. That's one of many edges a trader can have. Many other ppl just jump in, lose money and jump out without too much thinking.
If you will publish your longer term results (monthly statements or so), I'd like to take some time to analyze it. If I got it correctly your decisions are based on technical analysis. Do you include any kind of fundamental thinking into your decision-making process? In other words, do you think you could trade the way you do without any additional information except the price history?
For me, fundamentals are the cornerstone of my trading and TA is a kind of support tool.
I know what you mean, and I must agree with you that the most people have a gamble-style of trading. Maybe its more exciting to take a huge risk, but in the end its more likely that they loose all the money they invested. I thought about this one and will post reports with times the trades were placed so the reader can better ceck the exact entering and closing point, Ill see what I can do.
Yes thats correct. Im kind of totaly the opposite of you in this topic :) I see the fundamentals as a support tool and the Technical Analysis as the main tool. I think both are Important, but everyone lean toward the one or other method of analizing the market.
Regards,
Arslan aka DaytradeMillionaire
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