$9 to $500 and still going! - Page 43
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Thread: $9 to $500 and still going!

  1. #1
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    $9 to $500 and still going!

    In short I was introduced to Forex Trading in 2008. Since then I've not been able to turn profit, until.... I never gave up!

    A few month ago I sat in front of my charts thinking that there is more to trading than just these charts? There is more to trading than placing order and hoping..... hoping.... and then some more hoping.....

    Then I remembered something I read a long time ago, which was "When I place a trade I never calculate how much I can make from the trade, I only calculate how much I can loose". That made me think really hard at where I am and where I want to be in a few month's time...

    I found $9 in one of my account with RoboForex and I started to apply this new approach combined with my strategy, which is trading key price levels combined with fundamental analyses and economic behavior. Very soon this account grew to $50 and I was very pleased with myself. Next I took it to $100 and then $150 about a month later. At this stage I realized I'm on to something.

    I took the $150 and opened a new account, because I had someone who wanted to follow my trading so I started a Signal Service.

    The $150 kept growing and growing up to just over $500 what it is today.

    So what changed?

    My whole approach to trading had to change. My strategy was always good, but my execution and handling was poor.

    So what is next?

    I'm taking this account to $1k and then $2k. By when you might ask? I don't know, because I'm not looking at how much money I can make anymore, I look at how little I can loose and take whatever profit I can get.

    Join me as I take this account to the next level.

    Trade safe!

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  2. #421
    Trader Toyen's Avatar
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    Quote Originally Posted by Krosneles View Post
    Yes, when trader starts to gamble having small deposit and trying to double an account so he will lose money. There is big difference between gambling and trading. Trading is only when there is good risk and money management. Gambling is when trader tries to double an account in short period of time and gambling will cause losses one time.
    It might not be a gamble when traders are using small capital, it depends on the mindset in which the trader is using to trade. There are many traders that are using small capital to make good money, they will only like to do it patiently. The compounding way is the major ways in which the trader will get to trade, and this works better when it is being traded rightly and the trader will get his success with time.

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  3. #422
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    Quote Originally Posted by Toyen View Post
    It might not be a gamble when traders are using small capital, it depends on the mindset in which the trader is using to trade. There are many traders that are using small capital to make good money, they will only like to do it patiently. The compounding way is the major ways in which the trader will get to trade, and this works better when it is being traded rightly and the trader will get his success with time.
    I know that we can trade rightly in the market when we know what we want from the market and have the experience about that. We have to know how to invest the money we can afford to lose too, not that we will think that everything is just possible in the market. This might force us into gambling, and most times, some gamblers in the market do not know they are gambling.

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  4. #423
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    Quote Originally Posted by Toyen View Post
    It might not be a gamble when traders are using small capital, it depends on the mindset in which the trader is using to trade. There are many traders that are using small capital to make good money, they will only like to do it patiently. The compounding way is the major ways in which the trader will get to trade, and this works better when it is being traded rightly and the trader will get his success with time.
    I agree with you that there are many traders that use small capital and good risk and money management and they earn money little by little. But there is the other part of traders that want to earn big money with small capital as 1-2 dollars are not enough and they start to use big size lots that looks like a gambling for me.

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  5. #424
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    If we can spend time to learn about this business very well and get to understand how the market work and construct a good strategy before trading in the live account, even with small capital we can trade and become successful, forex trading is profitable business if we can manage the market very well we can make big profit even from small capital.

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  6. #425
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    Quote Originally Posted by Toyen View Post
    It might not be a gamble when traders are using small capital, it depends on the mindset in which the trader is using to trade.
    Making use of the small trading accounts is not at all gambling in any way, but it is when we are not willing to learn everything that is necessary to enable us become better and proficient forex traders that we shall become gamblers when we invest money because we have no knowledge of what we are doing, but risking all our trading accounts just because we want to become traders. It is also lack of good skills, knowledge and experience that leads so many into doing things in the field of forex trading anyhow and they ends up being a loser because we can never start trading anyhow and become profitable forex traders.

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  7. #426
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    Penuelophir, its not gambling but we make it gambling, i know all small account holders must uses big lots and try to double in days and this is sign of greed and gambling, we can do this as business if we use some proper management, if we use it on base of some percentage just, when we try to earn big and big we lose just, so its wrong thing for us

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  8. #427
    Trader ola4real's Avatar
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    Quote Originally Posted by ajagbeolegba View Post
    I know that we can trade rightly in the market when we know what we want from the market and have the experience about that. We have to know how to invest the money we can afford to lose too, not that we will think that everything is just possible in the market. This might force us into gambling, and most times, some gamblers in the market do not know they are gambling.
    For forex traders to trade the forex field and get to make their success, they will get to have experience and make the tangible plans on that experience in such a way that it will yield good results for that trader. Everything with the forex field is never automatic, we have to work for it. If forex traders could trade well on what they are doing and have a protective plans, success will then come.

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  9. #428
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    This was a good achievement by I think this is some kind of agressive trading and its difficult to have stability if we trade like that. When we have patience we learn well and also in a position to follow what we learned and use it in trading. I have no big achievements but my strategy is to gain with the market trend and try to make some logical profits every month.

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  10. #429
    Trader ola4real's Avatar
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    Quote Originally Posted by geddam View Post
    This was a good achievement by I think this is some kind of agressive trading and its difficult to have stability if we trade like that. When we have patience we learn well and also in a position to follow what we learned and use it in trading. I have no big achievements but my strategy is to gain with the market trend and try to make some logical profits every month.
    It is good to know that this traders did well in his trading to make the $9 into $500. But i do not like this, do you know the reason why? The trader did not start by making a journal, he only started after the money has grew up. We can not ascertain if that was luck or he traded well. Like the aggressive trading you made mention, it can not be removed from the possible cause of his achievement.

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  11. #430
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    Quote Originally Posted by ola4real View Post
    It is good to know that this traders did well in his trading to make the $9 into $500. But i do not like this, do you know the reason why? The trader did not start by making a journal, he only started after the money has grew up. We can not ascertain if that was luck or he traded well. Like the aggressive trading you made mention, it can not be removed from the possible cause of his achievement.
    This trader has not started a journal because 9 dollars money are lost. Nobody wants to earn cents and everybody wants normal money. It is the reason why traders start to gamble and seek for big earnings. If trader wants to earn normal money so he must invest normal money in order to trade with 0,1 lot and good risk and money management.

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