Showing posts with label making money. Show all posts
Showing posts with label making money. Show all posts
Thursday, July 19, 2012
USDCAD closed
The USDCAD trade hit the take profit which gave us a nice profit of about 110 pips! Great result, and it looks like it has hit the bottom when the TP was triggered.
Wednesday, July 18, 2012
EURUSD trade
A new trade is to be taken.
This is on the EURUSD and will be a sell order.
The trade was taken at 1.22739 with a lot size of 0.02.
SL is 1.23167 (43 pips)
TP is 1.21953 (78 pips)
Let's see how this one plays out!
0.02 is the usual lot size going forward according to my money management rules, it is not a win or lose on then double the lot size - martingale systems are destined to fail every single time.
I have some advanced money management software that let's me win 10 and lose 10, and I will still make money - or lose 10 and win 10, and still make money!!!
Monday, December 19, 2011
Upcoming trades
There are a couple of potential trades on the horizon, there was nothing last week except one I missed when i was on holiday which was on the EURCHF.
When we could have got in, there would have been roughly about 120 pips in profit.
Again though, I decided not to trade as the set up was not ideal, and as mentioned over and over again - I would much rather be 1 or 2 pips in profit than have a bif drawdown and look back saying that it was not a perfect setup! This will be waht distinguishes a trader from a gambler...
I know what bracket I would rather be in!
Happy trading!
When we could have got in, there would have been roughly about 120 pips in profit.
Again though, I decided not to trade as the set up was not ideal, and as mentioned over and over again - I would much rather be 1 or 2 pips in profit than have a bif drawdown and look back saying that it was not a perfect setup! This will be waht distinguishes a trader from a gambler...
I know what bracket I would rather be in!
Happy trading!
Tuesday, November 22, 2011
This weeks trading
So things have started out a little slowly this week, however the markets seem to be getting into some direction. We have the potential for a couple of trades this week - just waiting to see if they are viable or not.
I think that because we have some fairly good trends at the moment, it would be very easy to dip in and out with little fear that everything is going to go against you. As I have mentioned at length, the trades that are taken on this blog are only to do with 1 selected strategy - my own creation (which let's face it, is doing pretty well... if i say so myself!) so it is pretty obvious that there are lots of money to be made in the markets, but on this blog you only get 1 of them! This is one of the reasons why trades are not taken everyday. These trending markets are such that there are plenty of opportunities out there - but you need to have a few weapons in your arsenal to ensure that you are always have the opportunity to make good solid trades.
As always, I will keep you posted of any additional plays.
As for my other little investment with JSS Trippler (which is located on the right of this blog) I am starting to really ramp up the amount that I am making, and was talking to someone the other day who showed me how much he was making - $200 a day. He has just bought a top of the line computer, and was still investing more. I am hoping to start withdrawing and adding to my forex account. An additional $50,000 should not really go amiss...!!! I really woudl reccomend that you take a look at it - it is free to browse after all. Check out JSS Trippler through the link on the right and I will be your sponsor and guide you to what you need to do.
As always happy trading!
I think that because we have some fairly good trends at the moment, it would be very easy to dip in and out with little fear that everything is going to go against you. As I have mentioned at length, the trades that are taken on this blog are only to do with 1 selected strategy - my own creation (which let's face it, is doing pretty well... if i say so myself!) so it is pretty obvious that there are lots of money to be made in the markets, but on this blog you only get 1 of them! This is one of the reasons why trades are not taken everyday. These trending markets are such that there are plenty of opportunities out there - but you need to have a few weapons in your arsenal to ensure that you are always have the opportunity to make good solid trades.
As always, I will keep you posted of any additional plays.
As for my other little investment with JSS Trippler (which is located on the right of this blog) I am starting to really ramp up the amount that I am making, and was talking to someone the other day who showed me how much he was making - $200 a day. He has just bought a top of the line computer, and was still investing more. I am hoping to start withdrawing and adding to my forex account. An additional $50,000 should not really go amiss...!!! I really woudl reccomend that you take a look at it - it is free to browse after all. Check out JSS Trippler through the link on the right and I will be your sponsor and guide you to what you need to do.
As always happy trading!
Wednesday, September 14, 2011
What is it
100percentforex is a new blog that I am creating to show how having a good strategy in Forex will make you money.
I will be starting off on a demo account to show the basics. Moving to a real money account is slightly different, as there are a lot more fees to pay which will muddy the waters in terms of gross profit for the strategy.
A few ground rules:
1) I will not reveal my signals, so please do not ask. By all means follow the trades, I will post what trades I am in, however, it may be that you get in too late so any losses you experience, I will not take accountability for! I want this to show you that making money on forex is not pie in the sky, but tangible.
2) I base my trades on technicals, although fundamentals in the market will of course play their part - for example, the uncertainty of Greece's debt will affect the Euro, however, the fundametals play into our hands, as the technicals I use will catch these movements as well
3) I use stop losses to manage my risk. Forex is all about stayin in the game. Profits are nice, avoiding big losses is key. I am confident that my strategy will provide lots of winners and only a few losers, but this is a forward test. I can look back and see that all the trades would end up as a winner... of course they would, or I would not be forward testing it! Losers should be expected, and they will happen. This does not mean that it is a losing system.
4) I will be starting with a 'deposit' that is in everyone's reach. I have thought long and hard about this, and I will be using $250 as my starting point. The reason being is that anyone who is serious about making money, needs an investment that matches the ambition. However, not everyone can deposit $1 million to make money with. What this emans fundamentally, is that the profit and subsequent losses will be on the small side in terms of actual money. What we shall be focusing on however is the percentage return (again this is gross starting out, as it is a demo account and will not take into account the taxes and so forth that a real money account will do.
5) After a successful period of testing, I will go live with a deposit in the region of c. $800 (£500 in GBP - although that depends on the markets!)
6) I shall stick as much as possible to the majors. The reason for this, is that broker spreads are less on the majors, although if there is a good trade set up, then I would rather take the spread than the loss of not being in the trade!
7) I shall not be trading every day. I have a fixed set of rules to get into a trade, and these shall not be broken. These are part of my trading plan, and if I were to break these - even to keep the interest of this blog up and going, I will find that I have a losing system. There will always be trades to be had as long as I have money to put into them - missing a poor trade is better than losing!
8) My time frame for a trade will be quite long. I will be using the H4 (every bar on the chart is 4 hours) so I will be in trades for approx. 5 - 20 days. I have tried testing this system in other time frames and it does not seem to work particularly well. What this does mean, is that I will go far down into a drawdown (per trade not against the overall account) but at the same time, my profits should be that much greater as well.
9) Taking profits shall be from the chart. I have firm rules to get out of a trade-either it goes to full loss because it was never in profit or the rules I have set out mean that it has a small loss or a small gain - or it has a gain somewhere in between a lot, or a little. I will also be making use of trailing stops so that if a trade were to go against me, I am protected (although I would prefer not to use them to let the profits run. Saying that the Trailing stop will be quite big).
That is it really. I will give some commentary of the markets as I see them, and will be back from time to time. This blog will proabbly not be updated every day, but I will give information on the trades - when i get into them, What lot size I am using, the max risk to the account what currency I am long/short on and all the other data you will need to either trade them or simply to verify the trades I am making.
What does the future hold for 100percentforex?
Well if this is successful, I would like to aim to sell my system - Afterall, why not? The first 10 followers of this blog will get the strategy for free, and if i release any products, then they will get 50% off. The strategy itself is pretty simple and straightforward, but as I have found out, the simple strategies are often the best when it comes to making unclouded decisions. Just because it is simple does not mean it will not make money!
I will be starting off on a demo account to show the basics. Moving to a real money account is slightly different, as there are a lot more fees to pay which will muddy the waters in terms of gross profit for the strategy.
A few ground rules:
1) I will not reveal my signals, so please do not ask. By all means follow the trades, I will post what trades I am in, however, it may be that you get in too late so any losses you experience, I will not take accountability for! I want this to show you that making money on forex is not pie in the sky, but tangible.
2) I base my trades on technicals, although fundamentals in the market will of course play their part - for example, the uncertainty of Greece's debt will affect the Euro, however, the fundametals play into our hands, as the technicals I use will catch these movements as well
3) I use stop losses to manage my risk. Forex is all about stayin in the game. Profits are nice, avoiding big losses is key. I am confident that my strategy will provide lots of winners and only a few losers, but this is a forward test. I can look back and see that all the trades would end up as a winner... of course they would, or I would not be forward testing it! Losers should be expected, and they will happen. This does not mean that it is a losing system.
4) I will be starting with a 'deposit' that is in everyone's reach. I have thought long and hard about this, and I will be using $250 as my starting point. The reason being is that anyone who is serious about making money, needs an investment that matches the ambition. However, not everyone can deposit $1 million to make money with. What this emans fundamentally, is that the profit and subsequent losses will be on the small side in terms of actual money. What we shall be focusing on however is the percentage return (again this is gross starting out, as it is a demo account and will not take into account the taxes and so forth that a real money account will do.
5) After a successful period of testing, I will go live with a deposit in the region of c. $800 (£500 in GBP - although that depends on the markets!)
6) I shall stick as much as possible to the majors. The reason for this, is that broker spreads are less on the majors, although if there is a good trade set up, then I would rather take the spread than the loss of not being in the trade!
7) I shall not be trading every day. I have a fixed set of rules to get into a trade, and these shall not be broken. These are part of my trading plan, and if I were to break these - even to keep the interest of this blog up and going, I will find that I have a losing system. There will always be trades to be had as long as I have money to put into them - missing a poor trade is better than losing!
8) My time frame for a trade will be quite long. I will be using the H4 (every bar on the chart is 4 hours) so I will be in trades for approx. 5 - 20 days. I have tried testing this system in other time frames and it does not seem to work particularly well. What this does mean, is that I will go far down into a drawdown (per trade not against the overall account) but at the same time, my profits should be that much greater as well.
9) Taking profits shall be from the chart. I have firm rules to get out of a trade-either it goes to full loss because it was never in profit or the rules I have set out mean that it has a small loss or a small gain - or it has a gain somewhere in between a lot, or a little. I will also be making use of trailing stops so that if a trade were to go against me, I am protected (although I would prefer not to use them to let the profits run. Saying that the Trailing stop will be quite big).
That is it really. I will give some commentary of the markets as I see them, and will be back from time to time. This blog will proabbly not be updated every day, but I will give information on the trades - when i get into them, What lot size I am using, the max risk to the account what currency I am long/short on and all the other data you will need to either trade them or simply to verify the trades I am making.
What does the future hold for 100percentforex?
Well if this is successful, I would like to aim to sell my system - Afterall, why not? The first 10 followers of this blog will get the strategy for free, and if i release any products, then they will get 50% off. The strategy itself is pretty simple and straightforward, but as I have found out, the simple strategies are often the best when it comes to making unclouded decisions. Just because it is simple does not mean it will not make money!
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