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This seems not appropriate in Main IM forum

by Adie
5 replies
  • OFF TOPIC
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Because this is forex!

I've been trading forex using virtual money at etoro for 3 months now, reading tons of forex articles and some books and watched dozens of videos and analyzed financial news trends, politics, and economy.

I had a 76% positive gain using virtual money since I started and yesterday (last day of the week here), I decided to invest a minimum of $50 real money.

Within 6 hours of continuous trading with some minutes of breaks, I traded 56 times with 1000 units ($20) per trade and gained a total of 756 pips. At $.01 per pip, I earned $75.6 in my first day!! I am so excited but kept my emotion away while controlling the risk to a minimum level.

This has been a long term plan for me and I don't have any plan to invest more. I plan to grow the initial $50 that I invested.

Will be busy the following weeks!
  • Profile picture of the author HeySal
    You are right - it's totally inappropriate to talk about making money in the forum that says "this is where we talk about making money".
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    Sal
    When the Roads and Paths end, learn to guide yourself through the wilderness
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  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by Adie View Post

    Within 6 hours of continuous trading with some minutes of breaks, I traded 56 times with 1000 units ($20) per trade and gained a total of 756 pips. At $.01 per pip, I earned $75.6 in my first day!!
    In one day, you've earned the percentage return on your account that the average floor-trader at Goldman Sachs, who has 10,000+ hours of experience and a lot of formal training, takes more than a year to earn on his account.

    It may possibly be, of course, that you've also exposed your capital to greater risks, too. :confused:

    I wish you good luck with it, though I can't say I'd enjoy trading nearly ten times per hour, for so many hours, myself. (You must be scalping the EUR/USD, or something? Your net gain is about 13 pips per trade, but that's without knowing the proportion of winning/losing trades. Actually it's pretty difficult to imagine how you can trade 9/10 times per hour and make 13 pips per trade, even scalping the Euro? It's not that volatile!).

    Originally Posted by Adie View Post

    Will be busy the following weeks!
    You can say that again.

    I'm doing about 4 trades per week, at the moment.
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  • Profile picture of the author dave147
    I have nothing to add here, I just came in to see Alexa's avatar today
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  • Profile picture of the author dotdash
    I'm struggling with this paragraph a bit

    Originally Posted by Adie View Post

    Within 6 hours of continuous trading with some minutes of breaks, I traded 56 times with 1000 units ($20) per trade and gained a total of 756 pips. At $.01 per pip, I earned $75.6 in my first day!! I am so excited but kept my emotion away while controlling the risk to a minimum level.
    756 pips in 6 hours? Really? [*edit*] - Does this include the 5th decimal place (1/2 a pip) most brokers have now?
    >125% in 1 day Really?
    Was the risk $20 per trade? If so that's 40% risk per trade which isn't controlling it to the minimum level by a long shot...

    I'm not trying to give you a hard time but those are the sort of numbers you see on GRQ clickbank robot pages along with MT4 statements with the losing trades deleted out.

    If you're not about to start selling something and this is for real then congratulations and I wish you all the best

    I make 6-10 trades a week (4h charts muliple instruments FX, commodities, indexes and equities) and pull down a net 2-4R (google "R multiples" if you don't know what I'm talking about) average a week. Even that feels a bit aggressive.
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    • Profile picture of the author Adie
      Originally Posted by dotdash View Post

      I'm struggling with this paragraph a bit



      756 pips in 6 hours? Really? [*edit*] - Does this include the 5th decimal place (1/2 a pip) most brokers have now?
      >125% in 1 day Really?
      Was the risk $20 per trade? If so that's 40% risk per trade which isn't controlling it to the minimum level by a long shot...

      I'm not trying to give you a hard time but those are the sort of numbers you see on GRQ clickbank robot pages along with MT4 statements with the losing trades deleted out.

      If you're not about to start selling something and this is for real then congratulations and I wish you all the best

      I make 6-10 trades a week (4h charts muliple instruments FX, commodities, indexes and equities) and pull down a net 2-4R (google "R multiples" if you don't know what I'm talking about) average a week. Even that feels a bit aggressive.
      No I'm not selling and do not intend to do so. That was a high volatile time and I experienced almost the same last night but this time I was out of timing and did not get the maximum profit. I am trading only during volatile times with a manual stop loss and I monitor it every second.
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