Fellow Traders,
I would like to start my last forex experiment and analyze the progress with you, if you like of course.
Background: I am investing in forex market for four years now and I have gained some experience but would not say I am successful. All in all I am in minus. But I was ready for the minus and I knew it is hard job to gain some money in forex. At the same, I believe that forex market is providing a huge opportunity to become very rich if you are smart enough.
Now I have started my last experiment on forex. Why is it last? Because I think four years are enough time (you even can get an University diploma in four years
) to study the market. I have tried lot of strategies and found them ineffective. I have worked on my last strategy using all my knowledge practical as well as theoretical. If I fail then I am not smart enough for this market and I will look for my fortune somewhere else.
Rules of the Game: My experiment works as fallow: I have opened an 50.000 USD practice account within forex.com on 24.01.2008. The account will run for one month. That is at 23.02.2008 the experiment will be over. I will be a winner when I have get more than 45.000 USD and I will be defeated if I have less than 45.000 USD. Why 45.000 and not 50.000? because first day I have tried some other strategy and I have lost about 5000 USD. It will be a mistake to make the late strategy responsible for the loss. At the afternoon of 24.01.2008 I have started the new strategy. Further the game will be over sooner than 23.02.2008 when I have lost all my money available on the account.
Strategy: Please understand that I cannot reveal all details of my strategy because that is all what I have now – so it is my treasure. I will reveal all details when I will be defeated. Then you will know for sure which strategy you should avoid in the future
. What I can say is: the strategy is very aggressive. I trade all available pairs on my platform. I am 100 percent technical. My daily profit target lies between 2000 – 3000 USD and I am ready to accept losses in the same amount.
How you can fallow: At the end of the experiment I will put login and password here. Till then I will put daily trading results in this thread.
The situation for this moment: I have had two trading days. The initial return is 4095 USD or about 10 per cent. Well it does not say anything. It can be only luck. Please see the file attached and note to start counting from transaction: EURŮSD. 24.01.2008; 13:12.
I welcome all your comments and I am ready to answer your question here. Hope there will be interesting discussion despite of the experiment outcome
.
I remain,
Brian