My Trading Experience during last 3 Months - Ryan1911
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Thread: My Trading Experience during last 3 Months - Ryan1911

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    My Trading Experience during last 3 Months - Ryan1911

    Hello folks and Pip Hunters. Good day to all.

    Today, I am very pleased to be a part of this lovely contest and would love to share my experience of last three months with you all. Its more like a roller coaster ride for since the beginning of the 3rd quarter of the year, but some how i managed to hold om to my breath and till now i am not out of this forex league, But i must say in this last 3 months i have come to know how uncertain and volatile the market could become.

    During the start of the 3rd quarter, I was having great results and was too satisfied with my performance
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    Yes, My ride was like smooth and steady. just like driving a Mercedez on a highway. Ok , Jokes apart, I am actually i die hard follower of the price action strategy, which really paid me off well. From the starting of my trading career i was very focused to the chart patterns and the candlestick formations. So from the very beginning i had decided to become a master of this strategy. But practically many things depends when you trade in forex and you can never rely upon the simple price action. And that i will proof in my next points.

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    This is how used to trade, simple support and Resistance reference levels and ascending and descending channels. But what i realized later was that relying upon such patterns completely can also be disastrous.

    Then suddenly the disaster came and vanished all my sweet trading fantasies


    Can you guess what could be the reason behind that? Yes, it's the Pound flash crash which swiped off my account in just 15 minutes. Even stop loss didn't able to save my account from such a sudden move of the market. This unexpected movement raised many doubts inside me. One of which is that can we really be benefited by using Stop loss? Firstly, let me give you the screenshot of what happened to GBP


    As you can see, The volatility of the market when the flash crash occurred was almost negligible. But the sudden fall of around 1100 pips has taken out 3 trillion dollars for forex traders pocket according to the news. But what i am regretting is that i had a buy position of 5 Lot GBP/USD at 1.2520 and set my stop loss at 1.1800 and take profit at 1.3000. I was certainly following the price action strategy quite closely for this pair and was confident of my trade. But the very next day when wake up in the morning and checked my progress, i was shocked that my SL got hit, but the pair jumped again to 1.24 level. OH NO!! Stop loss has eaten up my dollars, ALAS.
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    Reaction after seeing my stop loss got hit but pair bounced back again to its initial position


    Storm gone, Now time for calculation and risk management
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    Well, Literally i was too shocked to respond to what happened so suddenly. So i stopped trading for some days. I am using 3 trading accounts at this time and i closed all my positions, sit back for rest and started calculating my management. Now i come up with a different strategy that i would mix up the fundamental analysis also in my technical analysis, so that my trading gets stronger and i too have a clear idea what to the extent can happen to my account in adverse conditions. My new strategy though consist of stop loss and take profit, but after that incident i totally lost trust on stop loss.


    My Current Account status
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    As you can see i have named my strategy as TechnoFunda , its because this strategy comprises of both technical and fundamental analysis.

    What I expect from my future
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    LOL. I know its a very big dream that one day i would become so successful that i would have my own forex school. but dreams can be fulfilled only when you see it. So the path to my success is though far away from me at this moment, but i am surely confident that one day or other i will reach that points and prove to myself.

    Thank you.

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    The reaction after loss could be enhance more i think
    Anyhow written beautifully!

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    Quote Originally Posted by Gamer View Post
    The reaction after loss could be enhance more i think
    Anyhow written beautifully!
    Literally, my reaction was like that only, and i guess not only mine, all those traders who lost their hard earned money in that flash crash had similar reaction. The brexit movement and this flash crash has jerked my account very cruelly, you can feel it by looking at my reaction. ;)

    And thank you for the compliment. :D

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    Oh! never forget market always ready to give you back , so better try your strategies with right tactics.

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    Quote Originally Posted by Gamer View Post
    Oh! never forget market always ready to give you back , so better try your strategies with right tactics.
    You are correct actually. We have to be strong enough to face such losses. As you can see in my signature, i have now made a profit of 61% of my account, even after that huge disaster. Though i have to struggle a lot, but the taste of success is sweet too. Always target for the sucess and concentrate on it and try your best to achieve it, No matter how tough the path might be.

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