Apply a 28 Levels Financial Plan to Forex and convert $10 to $10,000

[Ibernabeu]

Welcome to my little experiment: $10 to $10,000 according to a Fiscal Plan! Https://www.cliqforex.com/attachments/1528279240.png

to start with, I'm not selling anything and will not do it.
I'm not starting this diary since I wish to market a signal service or info, or anything like this.

This is simply going to be my diary pure and simple, where I will post my transactions based on a plan I am going to implement on Forex, to increase my trading, to check the plan, and to discipline myself.
I will not post any commerce in advance, I am just going to post the transactions I made at the conclusion of the afternoon, showing my Profit or Loss and the condition of the plan.

Perhaps, I will add some comments about my ideas of a specific trade or about my emotions for the day in general.
Later on, I will talk about what and indiors I use to do my own trading but I am not going to talk about any method or the way I use those indiors. I believe I've found my method of trading and that there is no holy grail or infalible method to exchange. That is up to each person and depends on a lot of factors, not only on a lot of indiors.

I want to do this to motivate myself and any other person interested, and also to experiment if, with real objectives and discipline it's possible to make money on the Forex and accomplish the experiment.

Well, this said, let me clarify a little bit about the plan.
It is a mix of the first plan based on the achievement of 28 stages and the forex market.
Originally, the plan was made to start on $1,000 and finish with $1,000,000 applied to any investment or company gaining a determined percentage on each level. So, with all the efectiveness of the compund interest and also the evolution of the plan, you finish with just one million dollar after the 28 steps.
In this circumstance, I've modified and accommodated the plan so I can go through different levels just by trading the Forex. So, I put on the plan added variables such as, lots, worth of pips, number of pips, pips every day, etc.. And also, I will start on $10, so I don't have anything to lose.

So, it will be a combination of discipline, money management, goal based on pips every day, pips each degree and percentage gain on my equity. Oh I forgot, also about great transactions! Https://www.cliqforex.com/attachments/1528279240.png
The financial plan'per se' isn't likely to make money. It can be a very good plan but it's needed to be a fantastic forex trader to reach every degree.
The final intention of the plan is to go through a path of studying the forex and become increasingly more profitable and better trader with the advance of the levels.

To understand what I am referring to, here is an example of the first two levels and what is needed:

(LEVEL) (EQUITY) (TARGET) (PROFIT) (TOTAL) (LOTS) (VALUE P/P) (NEEDED PIPS) (TIME)
1 $10.00 50% $5.00 $15.00 1 0.1 50 3
2 $15.00 40% $6.00 $21.00 1 0.1 60 4

Let me clarify.
In level 1 you start with $10 equity and also to pass to level 2 you need to find a 50% profit of $5 into a total of $15. So, if I start investing 1 lot using a value per pip of $0.1 (that is 1 lot=1,000 currency), I need 50 pips for into another degree. The time is on times and is calculated according to a goal of 15 pips every day.
In level 2 I need to make a 40% gain to complete it, and that will require 60 pips (4 times )

The following leves the plan simplifies the TARGET (percent ) to lower profits because in fact it is easy to acquire more% with reduced amounts, but when you have more money it's more challenging to have a 50% gain. So, the percent's are adjusted, they aren't adjusted and neither are the number of lots I will use, and also the value per pip will vary, because on a given level I will change my lot size, according to my own degree of equity.

I hope this is very clear and comprehensible, so if anybody read this thread will understand what I'm discussing. Anyways, if someone read this and is further interested, I can explain with more information almost any uncertainty.

Right now I'm on par 4 but on another post I will start with my transactions of the initial 3 leves only for your records.


PS: I've noticed that FCX has a similar thread based on 255 steps but I think we have different approachs and our plan is very different also. So, I'm not copying https://www.cliqforex.com/attachments/1528279240.png and it'll be more interesting and hard for me to compare with this plan.

[Ibernabeu]

As promised, hi, I am here again with the usual posting.

Period: LEVEL 7

Date: 08/11/2006
Trades:
EUR/USD SELL 2 lot at 1.2805, CLOSE at 1.2781 TOTAL: 24 pips
GBP/USD BUY 2 lot at 1.9050, CLOSE at 1.9030 TOTAL: -20 pips
EUR/USD BUY 2 lot at 1.2760, CLOSE at 1.2745 TOTAL: -15 pips
GBP/USD BUY 2 lot at 1.9030, CLOSE at 1.9052 TOTAL: 22 pips

Total for the day: 11 PIPS
Current Account Equity: $60.19


Comments:
I do not understand what's happening but the usual signals I used to receive on this pairs have not happened since some time.
I have been trading with another system but I am just not advancing with that.
I hope this situation changes soon.

Pips To Level 8: 45
Accumulated Pips: 311
Days Considering Level:??
lt;! -- / message -lt;! -- controls - Days since Start: 55

[Ibernabeu]

Ok then, let's begin with this trading.
As I said, I'm actually on level 4, but that I will put all of the preceding levels and transactions. I also forgot to mention that I need to make 2359 pips to accomplish my task.

Starting Date of the Experiment: 21/08/2006

LEVEL 1
Equity: $10.00
Goal: 50 percent
Profit: $5.00
Total: $15.00
Lots: 1
Value per pip: $0.1
Needed Pips: 50


Stage: LEVEL 1
Date: From 21/08/2006 into 23/08/2006
Trades:
EUR/USD SELL 1 lot at 1.2930, CLOSE in 1.2895 TOTAL: 35 pips
GBP/USD BUY 1 lot at 1.8890, CLOSE in 1.8863 TOTAL: -27 pips
GBP/USD BUY 1 lot in 1.8868, CLOSE in 1.8883 TOTAL: 15 pips
EUR/USD BUY 1 lot at 1.2799, CLOSE in 1.2808 TOTAL: 9 pips
GBP/USD SELL 1 lot at 1.8933, CLOSE in 1.8965 TOTAL: -29 pips
EUR/USD BUY 1 lot at 1.2831, CLOSE in 1.2839 TOTAL: 9 pips
GBP/USD SELL 1 lot at 1.8950, CLOSE in 1.8912 TOTAL: 38 pips
GBP/USD SELL 1 lot at 1.8921, CLOSE in 1.8923 TOTAL: -2 pips
GBP/USD SELL 1 lot at 1.8929, CLOSE in 1.8923 TOTAL: 6 pips

Total for the day: 54 pips
Comments:
Pips To Level 2: NONE (4 pips upward )
Accumulated Pips: 54
Days Since Level: 3
Days since Start: 3

[fanl1]

Hello Efex,

Thank you for sharing your thoughts, I am following your thread with great interest. Are those 28 measures a proprietory item or free? It would be interesting to see if I could incorporate that into my trading...


Thank you,

[Ibernabeu]

Hi Branac,

Wow that is a fast reply https://www.cliqforex.com/attachments/1528279240.png
Thank you for your interest.
Well, I am not the inventor of the 28 step program.
Really I made it free on some documents I purchased when I subscribed to a free newsletter.
Then, I paid a suscription to the site promoting the newsletter wich is an investment group (invest on anything) to reach financial freedom thru the program, but this is another story.
Then, after a few months on Foreign Exchange I have the idea of apply this egy to my trading so I will have a very clear objective and a means to control.
Anyways, I think it is not propetary and I could send to you, if you would like a pdf using the egy placed on the Foreign Exchange. Then you can play with it and make your changes if you want.
Send me a PM to send you the pdf

Bye

[ina99]

This seems intriguing. Could you say now if it is okay to post in your journal here so others know? Otherwise I can delete this post along with another one. Welcome tocliqforexand Decent trading...

Scott



Hi Branac,

Wow that's a Fast answer https://www.cliqforex.com/attachments/1528279240.png
Thank you for your interest.
Well, I am not the inventor of the 28 step plan.
Really I made it free on some files I received when I subscribed to a free newsletter.
Then, I paid a suscription to the site promoting the newsletter wich is a investing group (invest on whatever ) to reach financial freedom thru the plan, but that is another story.
Then, after a few weeks on Foreign Exchange I got the idea of use this plan for my trading so I will have a very clear aim and a way to control.
Anyways, I think it is not propetary and I could send to you, should you would like a pdf using the plan placed on the Foreign Exchange. Then you can play with it and make your changes if you'd like.
Send me a PM to send you the pdf

Bye

[Ibernabeu]

Continue with the next Degree.

LEVEL two
Equity: $15.00
Target: 40 percent
Profit: $6.00
Total: $21.00
Lots: 1
Worth per pip: $0.1
Needed Pips: 60


Stage: LEVEL two
Date: From 24/08/2006 into 29/08/2006
Trades:
EUR/USD BUY 1 lot at 1.2825, CLOSE in 1.2805 TOTAL: -20 pips
EUR/USD BUY two lot at 1.2812, CLOSE in 1.2813 TOTAL: 1 pips x 2= two pips
EUR/USD BUY two lot at 1.2795, CLOSE in 1.2785 TOTAL: -10 pips x 2= -20 pips
EUR/USD SELL 1 lot at 1.2785, CLOSE in 1.2765 TOTAL: 20 pips
EUR/USD SELL 1 lot at 1.2785, CLOSE in 1.2780 TOTAL: 5 pips
GBP/USD SELL 1 lot in 1.8868, CLOSE in 1.8868 TOTAL: 0 pips
GBP/USD BUY 2 lots at 1.8887, CLOSE in 1.8902 TOTAL: 30 pips
EUR/USD BUY 1 lot in 1.2765, CLOSE in 1.2773 TOTAL: 8 pips
GBP/USD BUY 2 lots at 1.8910, CLOSE in 1.8895 TOTAL: -30 pips
GBP/USD SELL 2 lots at 1.8895, CLOSE in 1.8881 TOTAL: 28 pips
GBP/USD SELL 1 lot in 1.8976, CLOSE in 1.8959 TOTAL: 17 pips
GBP/USD SELL 1 lot in 1.8992, CLOSE in 1.8963 TOTAL: 29 pips


Total for the day: 69 pips
Remarks: Here you'll see I traded two lots on some transactions and I should not have done it since my egy says 1 lot! I got a little greedy and wanted to accelerate the process, but then I corrected myself and have sticked into the program!! You get disciplined or get misplaced!!!
Pips To Level 3: NONE (13 pips up)
Accumulated Pips: 123
Days Since Level: 4 (ony counting trading times from mon to fri)
Days since Start: 7

[Ibernabeu]

LEVEL 3
Equity: $21.00
Goal: 35 Percent
Profit: $7.35
Complete: $28.35
Lots: 1
Value per pip: $0.1
Needed Pips: 74


Stage: LEVEL 3
Date: From 30/08/2006 to 31/08/2006
Trades:
GBP/USD SELL 1 lot at 1.9048, CLOSE in 1.9062 TOTAL: -14 pips
GBP/USD SELL 1 lot at 1.9080, CLOSE in 1.9089 TOTAL: 41 pips
EUR/USD SELL 1 lot at 1.2870, CLOSE in 1.2835 TOTAL: 35 pips


Total for the day: 62 pips
Comments:
Pips To Level 3: NONE (1 pip up)
Accumulated Pips: 185
Days Considering Level: Two (ony counting trading days from mon to fri)
Days since Start: 9

[android32]

Efex, is there a trading egy you are using here... seeing the reports and the 28 level egy is surely interesting... but I'd love to find out more about the way you exchange instead of just seeing the results.

However, perhaps your opening post indies that you are really not interested at the end... that is clear, of course... I am just curious to know more.


-

[Ibernabeu]

LEVEL 4
Equity: $28.35
Goal: 30 Percent
Profit: $8.51
Complete: $36.86
Lots: 1
Worth per pip: $0.1
Needed Pips: 85


Stage: LEVEL 4
Date: 31/08/2006
Trades:
GBP/USD BUY 1 lot at 1.9015, CLOSE at 1.9037 TOTAL: 22 pips

Total for the day: 22 pips
Comments: After trading the Increase of the dollar, I Watched an opportunity to go long to Get a little retracement and I got a good trade https://www.cliqforex.com/attachments/1528279241.png
Pips To Level 5: 63 (not counting the 1 pip from past post since I checked my account and I Believe I count it wrong)
Accumulated Pips: 206 (to be correct with my account's report)
Days Since Level: 1
Days since Start: 9

[Ibernabeu]

I wanted to finish placing up to date my trades to answer you scott.
I don't see any problem with different people posting here on my thread.
Thisis a public forum and thread so it's ok. Perhaps it might assist on my objective and can assist others.

Bye

[igereka]

Hi Efex,

Can I ask you a question?? Which broker are you currently with?? How can you buy/sell 1 lot with $10?? Isn't that minimum of $50 for $200:1 and $25 for 400:1? You own a broker that has 1000:1 leverage?? I will want to find out which broker it's...

Anyway, wish you a great success in your trading.

[Ibernabeu]

Miscon777,

I believe when you say egy you are referring to some mix of indiors and the conditions I use together.
I really do use a egy to exchange, but I really like to use three words to specify my own trading: Approach, Strategy, System.

I call it my FX ASS https://www.cliqforex.com/attachments/1528279241.png

I must tell u it isn't anything like an automated system or anything like that.
I respect, I do not share the opinion with those that believes there's a holy grial or something they can let running in their computer to generate money for them.
That's the reason why I use the three words APPROACH, STRATEGY, SYSTEM

I call it an APPROACH like I have been working on my personality and feelings to enter a trade and the market. Every day I am trying to perfect my own trader's personality and feelings and till now it is working.
I call STRATEGY due to my own objectives before and after entering a transaction, that means setting my cease and my goal and respecting them, money management, risk management, etc..
Eventually I use SYSTEM word talking about this combination of indiors, settings and other items I use to provide a more very clear entry signal and respecting those combinations.

So, all three combined are making me input in profitable trades until now. Does not meaninig there aren't or won't be winners, but having a balance on the three things I'm and will be convinced on myself and quite profitable.

I completely know you want to know more about how can I get the good deals than simply reading exactly what I did.
Like I said on the initial post later on I will discuss the indiors I use, however I will guarantee they are well understood and also the standards I use. So, what is making me input in great trade is another two words as well as the experience watching the charts and the price behavior.

I don't fell right now to be such an exceptional trader to provide any kind of information or to tell others to use the system I use. Maybe when I establish myself that this work (on some advanced degree of this plan) I'll begin writting about the settings and conditions to enter.

I hope you know and it doesn't keep you from the experimentation. Perhaps we all will finish learning here.
Tell you what, when I finish degree 4 I'll begin speaking about the indiors https://www.cliqforex.com/attachments/1528279241.png

[Ibernabeu]

Puppy,

for the time being, I prefer not to disclose exactly what broker I am with.
I know if in some stage I post some account balance or chart, everyone will find that. However, for now I prefer to maintain a low profile with the broker lol https://www.cliqforex.com/attachments/1528279241.png

since I wrote on the very first post 1 lot is equivalent to 1,000
Along with the leverage is 400:1 (for now, I will reduce my leverage when I progress )

Thus, the margin required for 1 lot of EUR is approx $3
In the beggining of the plan, you have to be carefull with the transactions as you'll be risking a higher% of your equity.

[Ibernabeu]

Stage: LEVEL 4
Date: 01/09/2006
Trades:
EUR/USD SELL 1 lot in 1.2803, CLOSE in 1.2807 TOTAL: -4 pips
EUR/USD BUY 1 lot at 1.2810, CLOSE in 1.2817 TOTAL: 7 pips
GBP/USD BUY 1 lot at 1.9025, CLOSE in 1.9040 TOTAL: 15 pips

Total for the day: 18 pips
Current Account Equity: $32.71 (this does not match exactlly with pips lost and won because of the premiums that I receive and pay sometimes, but I place it for benchmark )
Comments: Well, today was a specific moment. I could not be on my pc first so that I dropped the increase of the dollar because of the news event. When I was ready to trae with all setted up, the dollar had dropped again.
I decided to input LONG, my first trade today was actually a mistake (pressed the wrong button), but I knew, to get its price action, we had a little bit more about the movement up, my indiors were not too great, so I had been long on EUR and GBP but without much confidence. In the first opportunity I took my profit and got out -I did not want to hurt my great weekbecause of my unconfidence about the indiors. Following that, price went up and missed nearly 50 pips wich would have made me pass the actual amount.
But I am glad and proud of my 18 pips https://www.cliqforex.com/attachments/1528279241.png They're greater than my daily target of 15 and hello, it is a 148pips week https://www.cliqforex.com/attachments/1528279241.pnghttps://www.cliqforex.com/attachments/1528279241.pnghttps://www.cliqforex.com/attachments/1528279241.pnghttps://www.cliqforex.com/attachments/1528279241.png

Pips To Level 5: 45
Accumulated Pips: 224
Days Since Level: 2
Days since Start: 10

[Ibernabeu]

A new week starts for me. Yesterday was a no trading day for me due to the US holiday.
Here are the consequences for today (Not quite good https://www.cliqforex.com/attachments/1528279241.pnghttps://www.cliqforex.com/attachments/1528279241.png)

Stage: LEVEL 4
Date: 01/09/2006
Trades:
EUR/USD BUY 1 lot at 1.2813, CLOSE at 1.2802 TOTAL: -11 pips
EUR/USD BUY 1 lot at 1.2800, CLOSE at 1.2803 TOTAL: 3 pips
GBP/USD BUY 1 lot at 1.8933, CLOSE at 1.8917 TOTAL: -16 pips

Total for the day: -24 pips
Current Account Equity: $30.28
Comments: I am very upset with myself today. I entered in my trades very convinced because of very good signs from my indiors. As I was likely to be facing my pc and I wasn't expecting quite difficult moves, I dind't placed my ceases, wich I normally do on 20 or even 25 pips off. Following a couple of bars I began to feell unconfident eventhough my indiors stored showing me . So, there was a second when price went the other hand and I shut my trades and lost.
I must work on that!!! (not good, not great )

Pips To Level 5: 69
Accumulated Pips: 200
Days Since Level: 3
Days since Start: 11

PSI must say here that, according to another criteria I use to enter intradays trades, I opened two trades to get POSITION TRADING. Both are LONG around the dollar. So, I have two open trades shorting GBP and EUR and right now, in total they are LOSING 60 pips, wich I have hadged, therefore, if the GBP and EUR move UP I won't loose more than that, but if my criteria is good I'll shut the hedge and let them run profit.

[Ibernabeu]

Stage: LEVEL 4
Date: 06/09/2006
Trades:
GBP/USD BUY 1 lot at 1.8948, CLOSE at 1.8922 TOTAL: -26 pips
EUR/USD BUY 1 lot at 1.2823, CLOSE at 1.2808 TOTAL: -15 pips
This two transactions were the Dollar I took to my position trades. I closed when I awakened in the afternoon. Eventhough the tendency didn't go against me after I took the Dollar, so I might never have understood that.

GBP/USD BUY 2 lot at 1.8840, CLOSE at 1.8824 TOTAL: -16 pipsx2 = -32 pips
IDIOT! IDIOT! Stick to the program! DISCIPLINE! DISCIPLINE! It's a battle with myself I'm fighting .

EUR/USD SELL 1 lot at 1.2787, CLOSE at 1.2777 TOTAL: 10 pips
GBP/USD SELL 1 lot at 1.8823, CLOSE at 1.8815 TOTAL: 8 pips
GBP/USD SELL 1 lot at 1.8917, CLOSE at 1.8816 TOTAL: 101 pips
EUR/USD SELL 1 lot at 1.2802, CLOSE at 1.2780 TOTAL: 22 pips

LEVEL 5
GBP/USD BUY 1 lot at 1.8813, CLOSE at 1.8799 TOTAL: -14 pips
GBP/USD BUY 1 lot at 1.8811, CLOSE at 1.8856 TOTAL: 45 pips

Total for the day: 99 PIPS
Current Account Equity: $40.09
Remarks: DISCPLINE! DISCIPLINE! DISCIPLINE!
I'm very very happy I have only passed level 4!! Https://www.cliqforex.com/attachments/1528279242.pnghttps://www.cliqforex.com/attachments/1528279242.pnghttps://www.cliqforex.com/attachments/1528279242.png

Pips To Level 5: NONE (30 PIPS UP)
Accumulated Pips: 299
Days Considering Level: 4
Days since Start: 12

[Ibernabeu]

LEVEL 5
Equity: $36.86
Target: 25 Percent
Profit: $9.21
Total: $46.07
Lots: 1
Worth per pip: $0.1
Needed Pips: 92


Stage: LEVEL 5
Date: 07/09/2006
Trades:
GBP/USD SELL 1 lot at 1.8733, CLOSE at 1.8748 TOTAL: -15 pips
GBP/USD BUY 1 lot at 1.8748, CLOSE at 1.8753 TOTAL: 5 pips
GBP/USD SELL 1 lot at 1.8741, CLOSE at 1.8749 TOTAL: -8 pips

Total for the day: -18 pips
Current Account Equity: $38.29
Comments:

Pips To Level 6: 80
Accumulated Pips: 281
Days Since Level: 1
Days since Start: 13

[Ibernabeu]

Hi,

Well, it is hard for me to write this at this instant.
I'm feeling very bad, very dissapointed with myself. All of the work I didn't improve my plogical trading (my APPROACH as I called it) was sent into the garbage now by me.
Let me just say I made a mistake yesterday and was weak enough not to close my winning trades.
I entered a few reversal trades based on my SYSTEM plus they did work very good, they reached my stablished target but then they became winners since I didn't close them after which I reopened some places at the same direction. At this point I was only emotions and didn't care about my own indiors or system or egy or egy.
To make the story short, I have to state I blewed ALMOST ALL THE ACCOUNT https://www.cliqforex.com/attachments/1528279242.pnghttps://www.cliqforex.com/attachments/1528279242.pnghttps://www.cliqforex.com/attachments/1528279242.png

I didn't place ay SL, didn't hedged, didn't do anything. I allow them started and when I came to my pc I was down almost 160 pips. Even seeing I didn't hedge. I was actually very dominated with my own emotions and my rational side didn't say anything.

After this, the market gave me a final punch and I got a margin call. After that I was another person in front of the pc. Entered a couple of trades more and lost a lot. Then.... The finish, my account was back in level 1 https://www.cliqforex.com/attachments/1528279242.png with a little less than $10

I'm also very ashamed but I had to write this , since it is my diary and this is exactly what its for.

I might have not written this just not to disclose just how bad I did, but I think that will be merely a lie to me and wouldn't enhance my trading, and wouldn't help on my learning.
Now I have it written in people and everyone could read it. Additionally I can read it in the future and see how I was at this stage of my trading.

I was thinking to deposit $30 in my account and start over from the stage I left (level 5), but I think that will be also a lie .
I have to asume my errors and learn from them. PERIOD
I also hope this article helps others with the same problem, or simply promotes not to make the same mistakes I did.

I think that it is sufficient to just have said this and won't bill the details of my trades. Please know and do not make me suffer longer.

I've just lost 12 days of work. I believe it is well worth it to start over with this experience which will make me more powerful.

Best wishes to ya all!

[casta12337]

Start again friend and don't give up hope. Today is a new day and you'll have recovered from last week and learnt alot. Most of us get sucker punched at some stage, occasionally some people get sucker punched two, three four times! Man up and keep moving! Wish you well.

[Ibernabeu]

Hi,

I'm sorry for not posting because wednesday but I've been really busy at the office.
I've also been LOOSING big on my trading.
I really don't know what is happening, perhaps I'm not focusing due to my other activities on the job. The thing is that I lost half the account and it is getting harder and harder to do it right. Also is getting harder to need to state these things about big losses.
Well, life isn't just good and nice items, in addition, there are drawbacks and problems we have to confront.

I have lost some selfconfidence and also confidence on the system. It has not generated very good and powerful signals as it used to and there's also why I've been entering on bad trades and lossing powerful since thursday. I also have been buying too many lots trying to regain losses fast but tat has made me lose more.

I must comment about the very first losing trades I took on thursday due to the particularity of them.
I started too many lots and there was a time around the day I was loosing BIG, I was only about to have a margin call. I chose to follow my initial entering motive and prayed for the price to go my own way. I had to stay alert nearly to friday 4am EST and price came down back to my opening levels. It never went confident but that I could have closed my trades with small losses. I'd shut half of those trades using an small loss but I do not know the reason why I chose to go to sleep and also risk another two only in case price kept going my way the rest of the night.
Poor desicion! Price never went farther on that direction and I have stopped out dropping in total around 150 pips (do your maths)
On friday, with not much sleep time, I entered 3 trades which I had to carry until now and stopped losing.
Right now I'm also carrying my now's trades with not much action on price and with not much confindence about being correct.
I'm 5 pips upward on each.

At this time my equity is at $51.55 therefore, I think I'm back at least 4 degrees to level 7 or 6 depending on how my receptive trades finish now.

I have a lot of work to do to go back to level 11 where everything began.

[romenlm]

Hi Efex,
sorry to hear about your poor week. Hopefully, you can put it behind you shortly. Time to move on, but I'd recommend that you take a break. You've had too many losses, and you also most likely want to get back in the market. Bad idea if that is the situation. Have a break and re-group.

Good Luck and Take Care
Habeeb

[Ibernabeu]

Hello,
sorry to hear about your poor week. Hopefully, you can place it behind you soon. Time to proceed, but first I'd suggest that you take a break. You've had a lot of losses, and you also probably want to get back at the market. Poor idea if that's the situation. Take a break and re-group.

Good Luck and Take Care
Habeeb Thanks habeeb,

I have been watching at my account announcement and there is a lot of losing trades in a row. I haven't been able to win.
I must say that my opened trades had been stopped so I'm at level 5 https://www.cliqforex.com/attachments/1528279856.png

I will be back

[elboticario]

I admire you for being honest not only with yourself but with the whole Factory. That alone is much more than a lot of traders can perform.

Keep plugging away, and that I wish you the best.

[alexandrasanz]

Bro,

thanks for sharing.. .you have invented a fantastic plan but emo trading is proly the reason for your faults. Having a target is one thing but stressing yourself to get to the target at the shortest possible way is suicide.

Trade like Jesse prior to the crash but dun become Jesse after the crash.

Regards,

Jest

the entire sport of arbitrage is seeing who the asshole is. If you can not spot the asshole - well, then you're the asshole Ugly Americans: The True Story of the Ivy League Cowboys WHo Raided the Asian Markets for Millions

[Andlovar29]

All this thread just proves to me for all, forex is pretty hard!!!

At least your balance now is greater than you started with... better than me!!

I will stay about ... but that's about it.

And it actually does take guts to tell all when you are lsoing... many quit posting when they're lsoing.

Great Luck!! Many are watching!!

[romenlm]

All of this thread just proves to me that for most, forex is really hard!!!

At least your equilibrium now is more than you started with... better than me!!

I can stay about ... but that is about it.

And it actually does take guts to tell all when you're lsoing... many stop posting when they're lsoing.

Great Luck!! Many are seeing!! Sorry, but I completely disagree. It's so simple, that a lot of people become blinded. Because it is so simple, you are inclined to go for the million a commerce ey, and thats where the problem lies... GreeD. There is nothing hard about forex trading. It's all about self control... discipline.

[Javirex888]

You were doing . I know you will recover from this temporary setback. Additionally, this is where you learn to trade and develop the patience and discipline required to be successful in this organization. I can say from experience that there likely isn't anything wrong with your machine. You could have only encountered a drawdown period and you also misplaced faith on your own system and made some trades that compounded your losses and made things even worse. Been there. Anyhow, tomorrow is another day with new opportunities. Good luck!!!

[Ibernabeu]

Thank you guys and thanks Sister to your words.
I find here very supportive people and I am glad about that.

Today was a Fantastic day. FINALLY!
I'd three transactions but I really don't know whether my winning was just luck since I didn' even know more about the news release now. I had been consumed with other things and I didn't even look at my information calendar.

I put my transactions based on my system after which I had any problems with my PC. When I could connect news was published and lucky me that they were bad for the dollar, just the direction I had been!
The moment I saw I had been 45 pips on every one of my transactions I closed them. I have seen too many times how after a news release the first movement get retraced.
Well, price went nearly 45 more pips on my direction so I might have left the double but it's okay, I finally won and innovative almost 3 levels.

My current equity is $66.68

PS: Tomorrow I will post the actualized pip count and will begin wth the preceding posting format.

Additionally as now is the close of the month, tomorrow I will also place the equity evolution graphic as I did last month.

[Ibernabeu]

I'm here again. Haven't had too much time to post.
Additionally, tomorrow and today are holidays here at my country so it's been busy days at work.
Altought I have been trading a little and also'm trading now. Yex yex, TAKE A BREAK!! Well, tomorrow I'll I promise!

My final trades have not been so good I have lost almost $10 because my final equity info.

I'm attaching here the graph for the equity evolution for october.
But, as I create my points each week, the info is only until friday 27. The line for the end of the month. We are going to see that at next month's graph.

Please forgive me again for not posting as I used to do. I shall go back to format.
https://www.cliqforex.com/attachments/15282798631568316684.pdf

[Ibernabeu]

Again, I'm sorry but it's getting increasingly more difficult for me to post regularly as I used to.
I have been trading without much dediion and I believe that is why I've been LOOSING.
My current account equity is $31.00 https://www.cliqforex.com/attachments/1528279856.png

I have been thinking about my posting arrangement and I think it's sometimes too complex to replie all the trades I take.
Do you believe the info of EVERY trade is neccesary?

AnywaysI hope I will go back to my usual trading.
It is difficult to unite a lot of items with the trading.

I am not too worried about my equity. I am pretty confident I will go again to get the right path.

Bye

[LuisYoGoLo]

Thanks habeeb,

I have been watching at my account statement and there's a lot of losing trades in a row. I have not been able to win.
I must state that my opened transactions were stopped so I am at level 5 https://www.cliqforex.com/attachments/1528279856.png

I'll be back check my 100 trades analysis and I'll show some losing trades in a row.

I think that the 28 measures to 10,000 is a fantastic ch, but when I read your articles, it seems that the egy itself leaves you risk too much, or induces emotional baggage when you make the transactions (such as excitement when you gain a degree or despair when you drop down)
whenever you have the desire to reach 10,000 at the back of your mindyou may do whatever it takes to reach that level, just to proof to others or yourself that this will operate. The issue is, this may sacrifice your capacity to think at a neutral manner about transactions, to not risk too mcuh on a single trade, etc..

So I think you want to refocus, and maybe change the financial plan a bit.

[Ibernabeu]

check out my 100 transactions analysis and I'll show some losing trades in a row.

I feel that the 28 measures to 10,000 is a fantastic ch, but when I read your posts, it would appear that the egy itself leaves you risk a great deal, or causes emotional baggage when you make the transactions (like excitement once you acquire a degree or despair once you fall down)
When you have the urge to reach 10,000 at the back of your mind, you may do whatever it takes to reach that amount, just to proof to yourself or others that this will operate. The problem is, this may sacrifice your capacity to think in a neutral way about transactions, not to risk too mcuh on a single trade, etc..

So I think you want to refocus, and maybe alter the fiscal plan just a bit. Thanks for your advice.
Enjoy it.

It is true what you say. It may add some stress when you think only on reacing the goal.
But I also see it is really necessary to have any goal or path to follow as otherwise you are just going nowhere.

How can you think we can alter the egy? What are our hints?

[LuisYoGoLo]

Thank you for your advice.
Enjoy it.

It is true what you say. It may add some stress when you think only on reacing the goal.
But I also see it's really vital to have any goal or path to follow as otherwise you are simply going nowhere.

How do you think we can change the plan? What are our suggestions? I think rather than focusing on a financial goal, you need to focus on a system improvement goal.
Analyze your transactions, record all the information like price entered, risk, s/l, r:r, etc.. Then modify after number of specified trades (I propose 20) and determine what the performance is really like. Add something to the machine and examine it again with 20 trades. Try this over and over along with your live account before the operation fits your needs. However, always remember to not risk a great deal, otherwise this would not work.

The purpose is that, work on the machine and focus on improving your rate of return over time. Then the positive performance will translate into cash in your account (thus increasing you in amounts!)

[Ibernabeu]

Just wanted to post to allow you to know that I'm not dead or anything https://www.cliqforex.com/attachments/1528279856.png

I've just not been able to trade the previous few weeks. It has been a conjuntion of personal troubles, work, internet connection, etc..

I don't believe this week I will be able to trade either but I expect I will start again next week https://www.cliqforex.com/attachments/1528279857.png


Bye

[elboticario]

Do not worry about it man. Those things IMO are more important than trading. Take your time. Trading will probably always be there.

[jgaleras]

Efex, this thread prompted me to begin my own goals setting system according to your level technique. So thanks and wish you the very best of luck!

[selusapistan]

Efex, could we see that a plan of all of the levels?

[Budabar]

Could somebody plase be so kind and send me the pdf effex was speaking about?

Aidanpryde(in )nerdshack.com

thx a lot !

[Ibernabeu]

Forgot to mention about my overall objective.
That is, when I finish going thru each of the 28 levels, and receive my $10,000 I'll take $9,000 of profit for my pocket and another $1,000 I'll start another experiment to apply the initial plan to earn $1,000 into $1,000,000.

Thus, that is my main objective.