Hey, guys! Nobody has sent any emails yet.
(Disclaimer: said account is in demo not live sooo…)
Here’s the result of my first month – on a demo trading with only $250…
I got a total of 21 trades: 10 losses and 11 wins. For the losses, they’re all GBP/JPY except for the black sheep USD/CHF, which unfortunately pegged me down at 120 pips or $11.29 — my biggest loss ever.
Please take note: my first losses were small ranging–from $0.97 to $3.20. Then I they slowly turned to big losses—from 50 pips to 120 pips.
Each loss had its own story. Some were the results of my lack of discipline – I wasn’t following self-imposed trading rules. I lost 3 trades in a row due to impulsiveness and/or forced trading.
One of my biggest losses (-101 pips traded April 9) was very unfortunate because it also happened during a forex ‘gap’. Of course, I shouldn’t blame the gap! So I made a resolution, and that was not to hold trades during weekends.
A friendly reminder: Please do not try this crazy trading style at home :D; or better yet, do not try it with a live account! Risking more than 1% of your account is like attempting to commit a suicide.
As for my winning trades, I couldn’t elaborate because I knew I was just lucky to trade what-I-see and not what-I-feel!
(Thanks to Khalif Ford, I literally copied the trading motto that I read in his blog :D)
My last few trades were results of partly following my trading plan. Well…
So the ‘over-all’ for this month, I was not a break-even for this account–yet. I’m still $9.25 down. But I am hopeful that I can get a positive result in the next! Haha! Unfortunately, I can’t access this particular demo account anymore. Like it disappeared to thin air! (A short review for FX Solution)
I don’t know if this happens only to me; but lately, FX Solution had ‘server down’ several times in just a month. And every time this happened, I lost some data. Here are the bad effects to my account:
1. Data from GBP/JPY Bid Chart starting April 17 to 26, 2010 are missing.
2. My demo account was ‘deleted’. It had been missing until now.
I always loved FX Solution even though they have monstrous spreads. So these bad effects definitely got me worried! Thank goodness, it’s just a demo account. But what if it was my live account? That would be the end of the world! Hu-hu! I can’t take that!
Well, that’s all for now! Thanks for reading my blog!