My C2 FOREX account... post comments, but be nice!

fx_aussie · #1 11-15-2005, 01:57 PM

I've been trading a live Forex account for 6 months. This was started after only 3 weeks in a dummy account... I DON'T recommend you do as I have done. It is about as dumb as it gets when it comes to risking money... the only dumber thing I've done, is take part in HYIP scams for the last 5 years or so.

I've had my ups and downs trading, but I have been learning. I set out 6 months ago with the goal of learning to trade currencies and be successful at it. I gave myself 12 months. I knew I would most likely lose several banks in the process. I went into this with my eyes open, due to the Forex training system I am a part of.

I have not lost my first bank yet... much to the dissapointment of my boss and workmates.

I've been trading almost every night for 6 months. I had NO experience whatsoever when I started learning this skill, and I was bold enough to open a live account 3 weeks after reading my 1st paragraph on Forex trading.

Six weeks ago I opened a publicly viewable account at Collective2. It has also had it's ups and downs, however it is in profit, though only by about 30% in 6 weeks. Much of my early losses here were due to not understanding how the trading station works. Even tonight I made a mistake, taking a buy when I wanted to sell the GBP/USD... and losing $1,899 in a minute or so.

You can see my results, and aLL my trades, the good, the bad and the ugly here.

My trades are publicaly viewable, and are independently verified. I cannot "cheat" my results.

If you want, you can subscribe and get emails the instant that I make a new trade, or close an open trade. I do sometimes forget that I've got this account, so if you see a trade wandering around up and down apparently lost, it is because I've not logged in to see how it's going.

This is NOT a live account. My live accounts are with Refco and FXCM.

fx_aussie · #2 11-16-2005, 12:42 PM

Anyone who visited my account at Collective2 will see that in the last 24 hours I closed an old Euro trade at a profit of $2,599.

I then made 9 more trades... and one of those is still open. Of the other 8, 2 were losers and 6 were winners.

The losers totalled $7,299 and the winners totalled $7948 for a profit of $649.

Of more importance is how many pips was it? Well, it was a profit of 0.5 pips on the day. Not a lot, but not bad either. The reason the ½ pip is $649 is due to the different size trades I was making.

My current live trade is a SELL on the Euro/USD. I entered the trade at 1.1681, and expect it to go to around 1.1660 at least, and possibly as low as 1.1640 in the next few hours. This trade looks a little sick at present showing a potential loss of 12 pips, however I expect the trade to turn around very shortly.

There has been a retracement with the currency currently up against the 38.2% fibbo from the big drop a few hours ago.

I'll be back in about 24 hours.

fx_aussie · #3 11-20-2005, 12:25 AM

Well the euro bounced off the fibbo, went down to 60 where I cashed half my lots. It stayed around there a while, then dropped to about 40 and I cashed out.

I have since taken a sell order again, but got locked into a potential loss of about 60 pips when the European currencies popped up over 100 pips unexpectedly.... potentially I'm looking at a loss of about $15,000 ... but only if I close the trades.

I'll wait and see what happens after the open on Sunday afternoon before deciding whether to ride it out, or just cut my losses and take the hit.

myhyips · #4 11-20-2005, 09:51 AM

Wow, you have game

Very keen to see how your trading and system evolves. Please keep us posted. I think a modest reliable profit is better than spectacular wins/loses.

Best of luck!

boeze · #5 11-20-2005, 10:07 AM

Looking forward to see your results Aussie ! You are a great contribute to this section of this forum so keep up the posting

DriverDan · #6 11-20-2005, 01:41 PM

Quote:

Originally Posted by fx_aussie

I have since taken a sell order again, but got locked into a potential loss of about 60 pips when the European currencies popped up over 100 pips unexpectedly....

That's pretty funny. I anticipated that jump correctly and made 65 pips on cable. I wasn't following the market closely on Friday or I would have gotten another 75 pips on the Euro.

Quote:

potentially I'm looking at a loss of about $15,000 ... but only if I close the trades.

WTF? Where are your stoplosses? You should have been out long before losing that much money unless you have a $100,000+ account.

fx_aussie · #7 11-25-2005, 12:05 PM

Dan, my account at C2 had $130K in it... I ended up closing those 2 trades at a loss of about $20K... the system (account) is still in profit over $12,000.

I have only made 2 trades since, because the markets are just too slow these last 2 days due to Thanksgiving.

I have discovered some new indicator combinations that are showing great promise. I used them whewn the market was channeling yesterday, and made a profit of 110 pips on Euro. I had 13 trades for 11 winners totalling 152 pips and 2 losers for 30 pips loss... total 122 pips profit in 24 hours, which is an awesome result. The largest win was 23 pips, while the 2 losers were 15 pips each that triggered stop loss positions. Average win was 11 pips per trade after spread.

I'll try and use these new signals on my C2 trades next week.