How I Tripled a $500,000 Forex Account in 6 Days

Category: Success Stories and Tips | Monday, June 16th, 2008

Yes; I really did it :)

I signed up for a $500,000 demo account with 1:500 leverage on May 26. I felt I like to have some challenging. I have never worked with such a risky leverage (1:500). So I just wanted to have some challenging and test my abilities. We all need it every now and then. Even the most professional and successful traders need to have a demo account at the side and practice the new ideas and systems with it. It will help you a lot to know yourself and your emotions better.

About the 1:500 leverage I have to say that it doesn’t make you more money. I just let you trade bigger amounts with a smaller account. There is no doubt that it is really risky and it can drain your account balance in few seconds if you trade carelessly. It is ok to have a 1:500 account but you have to be so careful and you should not use all the potential of a 1:500 leverage. For example when you have a $10,000 account with 1:100 leverage, trading one lot EUR/USD needs about $1400 margin (this amount can vary according to the value of EUR/USD) whereas with 1:500 leverage you can trade five lots with the same margin. When you trade one lot, each point makes/loses about $10 and when you trade five lots each point makes/loses $50. That’s why you have to be careful. So with any leverage you work, you’d better not to trade more than 10% of your account.

So I started trading with this account. First I just focused on EUR/USD but when the market became slow, I shifted to GBP/JPY and then decided to be stuck to GBP/JPY because it was volatile all the time. Before I started trading I checked all the weekly, daily, 4 hours, one hour charts but the surprising thing is that I took my positions according to the one minute chart. This is the challenging part of the game. You know that I am an intraday trader mainly but I was not used to use one minute chart to trade. The only indicators I added to my candlestick chart were Bollinger Bands (20) and RSI (9).

Technical analysis and finding the support, resistance and trend lines were other important things I always do in my trades. In most cases I closed my position when I saw that I have good amount of profit in my hand and some reversal signals were appearing but on the other hand when I saw that there is a good trend in bigger time frames I let some of the positions work and make more profit. So in my statement you can see that there are both big and small trades.

I started trading ten lots (€1,000,000) but then I increased it to 20 and 100 lots. When my account became much bigger, I traded 200 lots and sometimes I had 3 to 6 open positions. It means six €20,000,000 open positions. Yes; I told you that I wanted to have some challenging.

It may look crazy to you but I knew what I was doing. I followed the signals and added to my trade only when the previously open position was doing good. Traders say you should not add to a wrong position but you can add to a correct position if your account size allows you to do that.

I could triple the account after about 6 days and then slowed down and spent less time on it. The current account balance (today is June 16th) is $3,348,853.65 after making 188 trades.

I also tested some Expert Advisors on this account from June 3th to 9th but I have to say that they are really terrible and you should not try them on your real account. They only lost money on my demo account. Some of the auto-trading robots are really hot these days and I could make some money by selling them in forexoma.com but I will not do that because I know they don’t work and are wasting of time and money. I will explain in a different article that why you should not use these robots or Expert Advisors.

So how could I achieve this? Am I genius or I have an extraordinary system (strategy)?

I am not genius and I have no extra ordinary system. I am just disciplined and patient. I have learned from my mistakes and I still learn. I have gained enough experience and am still eager to experience more. I know the market movements and behavior. I know technical analysis and have learned to read the mind of buyers (bulls) and sellers (bears).

Ah ah! Wait a second!

Do I look over-confident?

hmmmm! This is what you always have to be careful about it. Over-confidence can be more dangerous than having no confidence.

When I got my driver’s license, I drove carefully for a while and then I became realized that I am a good driver. I started driving with less caution and it was the time that I got an accident. Fortunately it was not a bad accident but it was a big lesson: Even if you have been driving for 100 years, you need to have the same caution as the first day because the streets, cars, trucks and … don’t know you. They don’t know if you are an experienced driver or a new driver. They don’t care about your experience. You have to use your experience to avoid getting involved in an accident.

Forex market is like that too. You will lose money after having some successful trades. You will think you have learned enough and you can trade easily. But the forex market doesn’t know you and also other traders. It moves on its own way. It doesn’t follow you. You have to follow it.

Same as my accident, I lost a lot of money because of over-confidence but it taught me a big lesson. So I am not over-confident because forex market breaks the bones of pride and over-confident traders.

So keep in your mind. Even if you have been trading forex for 100 years and you have made millions of dollars of profit, you have to analyze the market with the same preciseness and caution as the first day. Do not enter to any trade as long as you have not seen the signals you have to see and even after a good trade setup, don’t forget to place a stop loss in a proper position.

Another question is that can I do the same thing with a real account?

If I act and behave in the same way that I did with this demo account, yes. There is no difference between demo and real account. So if you trade with a real account exactly as what you trade with a demo account, you will get the same result. It is all the matter of controlling the emotions. If you make profit with the demo account but you lose when you trade with a real account, it means you have learned the techniques but you have problems in controlling your emotions.

You have enough patience with the demo account but no patience with the real account. You let your trades make profit with the demo account but you close the profitable trades too early in the real account. Or you set proper stop loss in the demo account and let it works when the price goes against you but you don’t set the proper stop loss with the real account or when the price is close to trigger the stop loss, you move it. You trade with the demo account with peace of mind and without any stress but you are overwhelmed while trading with the real account. The stress doesn’t let you analyze and find the signals properly and so you make mistakes.

So what should you do?

You have to learn to control your emotions and this can be done only by practicing. In my “When You Will Be A Professional Forex Trader?” article I have explained the steps that you have to follow to become able to trade emotion free.

Here is the statement:

EuroOrient Securities&Financial
Services Ltd
Account: 45636 Name: Vahid Chaychi Currency: USD 2008 June 16, 19:43
Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
737131 2008.05.26 20:06 balance Deposit
500 000.00
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738760 2008.05.27 00:50 sell 20.00 eurusd 1.57740 0.00000 0.00000 2008.05.27 01:02 1.57692 0.00 0.00 0.00 960.00
739389 2008.05.27 02:45 sell 20.00 eurusd 1.57816 0.00000 0.00000 2008.05.27 09:57 1.57517 0.00 0.00 0.00 5 980.00
739592 2008.05.27 03:14 sell 20.00 eurusd 1.57886 0.00000 0.00000 2008.05.27 06:17 1.57880 0.00 0.00 0.00 120.00
740269 2008.05.27 04:18 sell 20.00 eurusd 1.57933 0.00000 0.00000 2008.05.27 05:18 1.57901 0.00 0.00 0.00 640.00
752265 2008.05.27 15:22 sell 20.00 eurusd 1.57563 0.00000 0.00000 2008.05.27 15:41 1.57477 0.00 0.00 0.00 1 720.00
755834 2008.05.27 17:01 sell 20.00 eurusd 1.57199 0.00000 0.00000 2008.05.27 17:02 1.57049 0.00 0.00 0.00 3 000.00
758064 2008.05.27 18:07 buy 20.00 eurusd 1.57247 0.00000 0.00000 2008.05.27 18:13 1.57257 0.00 0.00 0.00 200.00
758951 2008.05.27 18:44 sell 20.00 eurusd 1.57260 0.00000 0.00000 2008.05.27 19:29 1.57250 0.00 0.00 0.00 200.00
762912 2008.05.27 22:41 buy 100.00 eurusd 1.57010 0.00000 0.00000 2008.05.28 05:04 1.56965 0.00 0.00 200.00 -4 500.00
763137 2008.05.27 23:05 buy 100.00 eurusd 1.56860 0.00000 0.00000 2008.05.27 23:17 1.56910 0.00 0.00 0.00 5 000.00
764026 2008.05.28 00:39 buy 100.00 eurusd 1.56762 0.00000 0.00000 2008.05.28 01:20 1.56817 0.00 0.00 0.00 5 500.00
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765239 2008.05.28 03:59 buy 100.00 eurusd 1.56770 0.00000 0.00000 2008.05.28 04:31 1.56820 0.00 0.00 0.00 5 000.00
766561 2008.05.28 05:35 sell 100.00 eurusd 1.56910 0.00000 0.00000 2008.05.28 12:16 1.56903 0.00 0.00 0.00 700.00
781987 2008.05.28 15:35 buy 100.00 eurusd 1.56201 0.00000 0.00000 2008.05.28 15:35 1.56207 0.00 0.00 0.00 600.00
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783801 2008.05.28 16:30 sell 100.00 eurusd 1.56375 0.00000 0.00000 2008.05.28 17:59 1.56324 0.00 0.00 0.00 5 100.00
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785031 2008.05.28 17:16 buy 100.00 eurusd 1.56629 0.00000 0.00000 2008.05.28 17:19 1.56675 0.00 0.00 0.00 4 600.00
785183 2008.05.28 17:20 sell 100.00 eurusd 1.56658 0.00000 0.00000 2008.05.28 17:24 1.56628 0.00 0.00 0.00 3 000.00
785846 2008.05.28 17:36 buy 100.00 eurusd 1.56527 0.00000 0.00000 2008.05.29 01:51 1.56528 0.00 0.00 600.00 100.00
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789053 2008.05.28 19:50 sell 100.00 gbpjpy 207.209 0.000 207.075 2008.05.29 08:35 207.172 0.00 0.00 -6 710.40 3 527.64
789543 2008.05.28 20:21 sell 100.00 gbpjpy 207.425 0.000 0.000 2008.05.28 20:38 207.320 0.00 0.00 0.00 10 028.66
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790805 2008.05.28 22:09 sell 100.00 gbpjpy 207.293 0.000 0.000 2008.05.28 22:11 207.238 0.00 0.00 0.00 5 257.27
791206 2008.05.28 22:56 sell 100.00 gbpjpy 207.274 0.000 0.000 2008.05.29 00:24 207.228 0.00 0.00 -6 710.40 4 395.78
792656 2008.05.29 02:10 sell 100.00 gbpjpy 207.350 0.000 207.300 2008.05.29 08:10 207.318 0.00 0.00 0.00 3 051.54
792900 2008.05.29 02:55 sell 100.00 eurusd 1.56581 0.00000 0.00000 2008.05.29 03:00 1.56571 0.00 0.00 0.00 1 000.00
792976 2008.05.29 03:06 sell 100.00 gbpjpy 207.358 0.000 0.000 2008.05.29 08:09 207.319 0.00 0.00 0.00 3 719.07
793119 2008.05.29 03:30 sell 100.00 gbpjpy 207.392 0.000 0.000 2008.05.29 08:02 207.359 0.00 0.00 0.00 3 146.76
793195 2008.05.29 03:40 sell 100.00 gbpjpy 207.548 0.000 0.000 2008.05.29 06:34 207.490 0.00 0.00 0.00 5 532.50
793433 2008.05.29 04:05 sell 100.00 gbpjpy 207.588 0.000 0.000 2008.05.29 06:26 207.520 0.00 0.00 0.00 6 485.14
793439 2008.05.29 04:05 sell 100.00 gbpjpy 207.660 0.000 0.000 2008.05.29 04:27 207.605 0.00 0.00 0.00 5 249.44
796624 2008.05.29 09:06 buy 100.00 gbpjpy 207.115 0.000 0.000 2008.05.29 09:21 207.137 0.00 0.00 0.00 2 094.26
797073 2008.05.29 09:18 buy 100.00 gbpjpy 206.997 0.000 0.000 2008.05.29 09:19 207.040 0.00 0.00 0.00 4 094.92
798106 2008.05.29 09:52 sell 100.00 gbpjpy 206.884 0.000 0.000 2008.06.01 23:33 207.414 0.00 0.00 -4 403.70 -50 439.20
807862 2008.05.29 16:03 sell 100.00 gbpjpy 207.983 0.000 0.000 2008.05.29 16:05 207.925 0.00 0.00 0.00 5 512.95
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809814 2008.05.29 17:12 sell 100.00 gbpjpy 207.966 0.000 0.000 2008.05.29 17:30 207.857 0.00 0.00 0.00 10 359.64
810822 2008.05.29 17:45 sell 100.00 gbpjpy 208.074 0.000 0.000 2008.05.30 12:35 208.057 0.00 0.00 -2 190.20 1 611.84
811198 2008.05.29 18:00 sell 100.00 gbpjpy 208.340 0.000 0.000 2008.05.29 18:24 208.246 0.00 0.00 0.00 8 916.54
811848 2008.05.29 18:35 sell 100.00 gbpjpy 208.265 0.000 208.155 2008.05.30 09:41 208.155 0.00 0.00 -2 190.20 10 445.85
812205 2008.05.29 18:58 sell 100.00 gbpjpy 208.412 0.000 0.000 2008.05.29 19:05 208.303 0.00 0.00 0.00 10 334.20
813134 2008.05.29 19:46 sell 100.00 gbpjpy 208.419 0.000 0.000 2008.05.30 12:35 208.048 0.00 0.00 -2 190.20 35 176.22
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833253 2008.05.30 21:58 sell 100.00 gbpjpy 208.859 0.000 0.000 2008.05.30 22:21 208.803 0.00 0.00 0.00 5 311.33
833596 2008.05.30 23:13 sell 100.00 gbpjpy 208.859 0.000 0.000 2008.06.01 23:32 207.489 0.00 0.00 -2 213.50 130 364.45
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837264 2008.06.02 02:59 sell 100.00 gbpjpy 208.107 0.000 0.000 2008.06.02 03:20 208.095 0.00 0.00 0.00 1 138.25
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837659 2008.06.02 03:49 sell 100.00 gbpjpy 208.090 0.000 0.000 2008.06.02 03:56 208.081 0.00 0.00 0.00 854.46
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838356 2008.06.02 04:56 sell 100.00 gbpjpy 207.875 0.000 0.000 2008.06.02 05:06 207.855 0.00 0.00 0.00 1 896.76
838947 2008.06.02 06:15 sell 100.00 gbpjpy 207.895 0.000 0.000 2008.06.02 11:39 205.748 0.00 0.00 0.00 204 774.58
839045 2008.06.02 06:23 sell 100.00 gbpjpy 208.042 0.000 0.000 2008.06.02 11:39 205.740 0.00 0.00 0.00 219 537.08
846206 2008.06.02 12:17 buy 100.00 gbpjpy 205.851 0.000 0.000 2008.06.03 15:48 206.130 0.00 0.00 1 463.00 26 693.97
857574 2008.06.02 20:36 sell 100.00 gbpjpy 204.945 0.000 0.000 2008.06.02 20:50 204.900 0.00 0.00 0.00 4 318.37
859233 2008.06.02 23:01 buy 100.00 gbpjpy 205.646 0.000 0.000 2008.06.03 15:48 206.129 0.00 0.00 1 463.00 46 212.14
859269 2008.06.02 23:04 sell 100.00 gbpjpy 205.581 0.000 0.000 2008.06.02 23:54 205.504 0.00 0.00 0.00 7 370.26
859480 2008.06.02 23:32 buy 100.00 gbpjpy 205.651 0.000 0.000 2008.06.03 15:48 206.128 0.00 0.00 1 463.00 45 638.07
859767 2008.06.02 23:59 buy 100.00 gbpjpy 205.447 0.000 0.000 2008.06.03 00:18 205.482 0.00 0.00 1 463.00 3 350.69
873396 2008.06.03 14:23 sell 100.00 gbpjpy 205.366 0.000 0.000 2008.06.03 14:27 205.499 0.00 0.00 0.00 -12 734.10
916778 2008.06.04 22:53 sell 100.00 gbpjpy 205.625 0.000 0.000 2008.06.04 23:44 205.783 0.00 0.00 0.00 -15 012.74
1008808 2008.06.09 23:31 buy 49.30 eurusd 1.56412 0.00000 0.00000 2008.06.09 23:32 1.56384 0.00 0.00 0.00 -1 380.40
1008944 2008.06.09 23:40 sell 49.30 eurjpy 166.252 0.000 0.000 2008.06.09 23:41 166.303 0.00 0.00 0.00 -2 364.57
1009000 2008.06.09 23:44 buy 16.40 gbpjpy 210.012 0.000 0.000 2008.06.09 23:56 209.895 0.00 0.00 0.00 -1 805.39
1009003 2008.06.09 23:44 buy 49.10 eurjpy 166.319 0.000 0.000 2008.06.09 23:48 166.272 0.00 0.00 0.00 -2 170.85
1009335 2008.06.10 00:11 buy 49.10 eurusd 1.56479 0.00000 0.00000 2008.06.10 00:12 1.56449 0.00 0.00 0.00 -1 473.00
1009351 2008.06.10 00:13 buy 0.10 gbpjpy 209.949 0.000 0.000 2008.06.10 00:23 210.093 0.00 0.00 0.00 13.54
1009364 2008.06.10 00:14 buy 16.40 eurjpy 166.323 0.000 0.000 2008.06.10 00:23 166.386 0.00 0.00 0.00 971.66
1009777 2008.06.10 01:06 buy 100.00 gbpjpy 209.918 0.000 0.000 2008.06.10 02:04 210.006 0.00 0.00 0.00 8 274.02
1010197 2008.06.10 02:06 sell 100.00 gbpjpy 209.988 0.000 0.000 2008.06.10 02:15 209.979 0.00 0.00 0.00 846.64
1010391 2008.06.10 02:33 buy 100.00 gbpjpy 209.833 0.000 0.000 2008.06.10 03:17 209.900 0.00 0.00 0.00 6 293.92
1010700 2008.06.10 03:03 sell 100.00 gbpjpy 209.647 0.000 0.000 2008.06.10 11:54 208.854 0.00 0.00 0.00 74 363.73
1010968 2008.06.10 03:18 sell 100.00 gbpjpy 210.035 0.000 0.000 2008.06.10 11:54 208.820 0.00 0.00 0.00 113 939.01
1011038 2008.06.10 03:20 sell 100.00 gbpjpy 210.388 0.000 0.000 2008.06.10 05:06 210.255 0.00 0.00 0.00 12 478.77
1011241 2008.06.10 03:25 sell 100.00 gbpjpy 210.485 0.000 0.000 2008.06.10 05:04 210.355 0.00 0.00 0.00 12 192.04
1011327 2008.06.10 03:28 sell 100.00 gbpjpy 210.579 0.000 0.000 2008.06.10 05:04 210.331 0.00 0.00 0.00 23 258.65
1012632 2008.06.10 05:21 buy 100.00 gbpjpy 210.354 0.000 0.000 2008.06.10 06:01 210.354 0.00 0.00 0.00 0.00
1021228 2008.06.10 11:54 sell 100.00 gbpjpy 208.774 0.000 0.000 2008.06.10 11:55 208.851 0.00 0.00 0.00 -7 220.76
1031168 2008.06.10 16:34 buy 200.00 gbpjpy 208.916 0.000 0.000 2008.06.10 16:36 208.994 0.00 0.00 0.00 14 587.21
1031920 2008.06.10 16:47 buy 200.00 gbpjpy 209.088 0.000 0.000 2008.06.10 17:37 209.349 0.00 0.00 0.00 48 762.71
1042401 2008.06.10 23:35 buy 200.00 gbpjpy 209.864 0.000 0.000 2008.06.10 23:48 209.930 0.00 0.00 0.00 12 288.79
1042541 2008.06.10 23:52 buy 200.00 gbpjpy 210.015 0.000 0.000 2008.06.11 10:26 210.145 0.00 0.00 2 895.20 24 194.37
1042555 2008.06.10 23:55 buy 200.00 gbpjpy 209.948 0.000 0.000 2008.06.11 04:04 209.951 0.00 0.00 2 895.20 558.42
1043019 2008.06.11 00:41 sell 200.00 gbpjpy 209.851 0.000 0.000 2008.06.11 00:54 209.805 0.00 0.00 0.00 8 565.71
1043276 2008.06.11 01:09 buy 200.00 gbpjpy 209.809 0.000 0.000 2008.06.11 02:20 209.815 0.00 0.00 0.00 1 117.16
1043612 2008.06.11 01:57 buy 200.00 gbpjpy 209.732 0.000 0.000 2008.06.11 02:19 209.810 0.00 0.00 0.00 14 522.57
1043700 2008.06.11 02:06 buy 200.00 gbpjpy 209.673 0.000 0.000 2008.06.11 02:18 209.780 0.00 0.00 0.00 19 924.59
1044197 2008.06.11 03:05 buy 200.00 gbpjpy 209.672 0.000 0.000 2008.06.11 03:16 209.780 0.00 0.00 0.00 20 110.80
1044383 2008.06.11 03:24 buy 200.00 gbpjpy 209.796 0.000 0.000 2008.06.11 03:50 209.806 0.00 0.00 0.00 1 862.04
1044576 2008.06.11 03:53 sell 200.00 gbpjpy 209.822 0.000 0.000 2008.06.11 04:35 209.815 0.00 0.00 0.00 1 303.57
1044753 2008.06.11 04:04 sell 200.00 gbpjpy 209.901 0.000 0.000 2008.06.11 04:16 209.837 0.00 0.00 0.00 11 922.95
1071023 2008.06.11 21:45 sell 200.00 gbpjpy 210.152 0.000 0.000 2008.06.11 22:10 210.137 0.00 0.00 0.00 2 802.64
1072050 2008.06.11 22:58 buy 200.00 gbpjpy 209.882 0.000 0.000 2008.06.11 23:55 209.949 0.00 0.00 0.00 12 531.57
1072637 2008.06.12 00:01 sell 200.00 gbpjpy 209.922 0.000 0.000 2008.06.12 00:09 209.837 0.00 0.00 0.00 15 907.48
1073206 2008.06.12 01:03 buy 200.00 gbpjpy 209.861 0.000 0.000 2008.06.12 01:34 209.929 0.00 0.00 0.00 12 724.44
1073472 2008.06.12 01:39 buy 200.00 gbpjpy 209.975 0.000 0.000 2008.06.12 01:50 210.009 0.00 0.00 0.00 6 359.24
1073525 2008.06.12 01:48 sell 200.00 gbpjpy 209.886 0.000 0.000 2008.06.12 02:16 209.830 0.00 0.00 0.00 10 476.69
1073600 2008.06.12 02:01 sell 200.00 gbpjpy 209.986 0.000 0.000 2008.06.12 02:09 209.907 0.00 0.00 0.00 14 770.22
1074137 2008.06.12 03:29 sell 200.00 gbpjpy 209.794 0.000 0.000 2008.06.12 04:07 209.785 0.00 0.00 0.00 1 683.18
1074411 2008.06.12 03:51 sell 200.00 gbpjpy 209.886 0.000 0.000 2008.06.12 04:02 209.852 0.00 0.00 0.00 6 357.34
1074776 2008.06.12 04:23 sell 200.00 gbpjpy 209.869 0.000 0.000 2008.06.12 04:27 209.839 0.00 0.00 0.00 5 603.34
1074942 2008.06.12 04:30 buy 200.00 gbpjpy 209.840 0.000 0.000 2008.06.12 04:30 209.891 0.00 0.00 0.00 9 521.41
1075744 2008.06.12 05:17 sell 200.00 gbpjpy 210.153 0.000 0.000 2008.06.12 05:30 210.077 0.00 0.00 0.00 14 178.71
1091504 2008.06.12 16:07 buy 200.00 gbpjpy 210.000 0.000 0.000 2008.06.12 16:28 210.036 0.00 0.00 0.00 6 674.08
1096418 2008.06.12 18:35 sell 200.00 gbpjpy 209.979 0.000 0.000 2008.06.12 19:45 209.973 0.00 0.00 0.00 1 111.08
1096561 2008.06.12 18:41 sell 200.00 gbpjpy 210.040 0.000 0.000 2008.06.12 19:32 209.984 0.00 0.00 0.00 10 372.01
1096895 2008.06.12 18:59 sell 200.00 gbpjpy 210.118 0.000 0.000 2008.06.12 19:11 210.056 0.00 0.00 0.00 11 484.25
1099510 2008.06.12 21:25 sell 200.00 gbpjpy 210.069 0.000 0.000 2008.06.12 22:26 210.033 0.00 0.00 0.00 6 676.87
1100070 2008.06.12 22:01 sell 200.00 gbpjpy 210.160 0.000 0.000 2008.06.12 22:25 210.083 0.00 0.00 0.00 14 278.30
1100169 2008.06.12 22:12 sell 200.00 gbpjpy 210.242 0.000 0.000 2008.06.12 22:18 210.161 0.00 0.00 0.00 15 011.12
1100941 2008.06.12 23:15 sell 200.00 gbpjpy 210.170 0.000 0.000 2008.06.12 23:25 210.127 0.00 0.00 0.00 7 969.23
1101322 2008.06.12 23:49 buy 200.00 gbpjpy 210.165 0.000 0.000 2008.06.13 11:23 210.180 0.00 0.00 2 864.40 2 777.65
1102561 2008.06.13 00:46 buy 200.00 gbpjpy 209.978 0.000 0.000 2008.06.13 01:24 210.038 0.00 0.00 0.00 11 120.38
1103446 2008.06.13 01:58 buy 200.00 gbpjpy 209.980 0.000 0.000 2008.06.13 02:18 210.098 0.00 0.00 0.00 21 867.85
1103783 2008.06.13 02:26 sell 200.00 gbpjpy 210.047 0.000 0.000 2008.06.13 03:04 209.980 0.00 0.00 0.00 12 417.41
1104601 2008.06.13 03:42 buy 200.00 gbpjpy 210.020 0.000 0.000 2008.06.13 03:51 210.079 0.00 0.00 0.00 10 936.66
1105011 2008.06.13 04:10 buy 200.00 gbpjpy 210.002 0.000 0.000 2008.06.13 11:04 210.064 0.00 0.00 0.00 11 479.47
1105277 2008.06.13 04:27 buy 200.00 gbpjpy 209.884 0.000 0.000 2008.06.13 04:34 209.947 0.00 0.00 0.00 11 695.37
1127117 2008.06.13 18:26 sell 200.00 gbpjpy 210.526 0.000 0.000 2008.06.13 18:58 210.443 0.00 0.00 0.00 15 375.93
1128470 2008.06.13 19:10 sell 200.00 gbpjpy 210.435 0.000 0.000 2008.06.13 19:59 210.422 0.00 0.00 0.00 2 407.74
1131396 2008.06.13 23:00 sell 200.00 gbpjpy 210.697 0.000 0.000 2008.06.13 23:55 210.658 0.00 0.00 0.00 7 212.67
1131557 2008.06.13 23:06 sell 200.00 gbpjpy 210.744 0.000 0.000 2008.06.13 23:52 210.675 0.00 0.00 0.00 12 759.58
1134635 2008.06.16 01:47 sell 200.00 gbpjpy 210.969 0.000 0.000 2008.06.16 02:50 210.892 0.00 0.00 0.00 14 229.35
1135641 2008.06.16 03:49 buy 200.00 eurusd 1.53846 0.00000 0.00000 2008.06.16 03:59 1.53898 0.00 0.00 0.00 10 400.00
1135979 2008.06.16 04:10 sell 200.00 eurusd 1.53879 0.00000 0.00000 2008.06.16 10:30 1.53765 0.00 0.00 0.00 22 800.00
1136565 2008.06.16 05:13 sell 200.00 eurusd 1.53919 0.00000 0.00000 2008.06.16 10:30 1.53766 0.00 0.00 0.00 30 600.00
1146051 2008.06.16 12:13 sell 200.00 eurusd 1.54297 0.00000 0.00000 2008.06.16 12:35 1.54235 0.00 0.00 0.00 12 400.00
1151570 2008.06.16 15:31 buy 200.00 eurusd 1.54738 0.00000 0.00000 2008.06.16 15:36 1.54860 0.00 0.00 0.00 24 400.00
1152250 2008.06.16 15:43 buy 200.00 eurusd 1.54923 0.00000 0.00000 2008.06.16 15:53 1.54955 0.00 0.00 0.00 6 400.00
1157174 2008.06.16 17:50 sell 200.00 eurusd 1.54709 0.00000 0.00000 2008.06.16 17:58 1.54640 0.00 0.00 0.00 13 800.00
1158482 2008.06.16 18:28 sell 200.00 eurusd 1.54812 0.00000 0.00000 2008.06.16 18:44 1.54738 0.00 0.00 0.00 14 800.00
1159639 2008.06.16 19:13 sell 200.00 eurusd 1.54853 0.00000 0.00000 2008.06.16 19:41 1.54839 0.00 0.00 0.00 2 800.00
0.00 0.00 -10 464.50 2 859 318.15
Closed P/L:
2 848 853.65
Summary:
Deposit/Withdrawal: 500 000.00 Credit Facility: 0.00
Closed Trade P/L: 2 848 853.65 Floating P/L: 0.00 Margin: 0.00
Balance: 3 348 853.65 Equity: 3 348 853.65 Free Margin: 3 348 853.65



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10 Comments:
post a comment
Comment by John - ForExcellence
2008-06-17 11:22:38

You bring up very good points about the emotional aspects of trading on a live account, and I agree completely with that view. However, I must disagree on the point that demo trading is EXACTLY the same as live trading.

Demo trading is based on a data feed only and does not account for re-quotes and slippage. A transaction that may be accepted on the demo may not be executed at all on a live platform. The transaction could get rejected and requoted, or simply suffer from slippage (whether it is favor or against the trader). A demo platform may get filled on a transaction and display a successful trade, whereas the live platform did not accept the limit order or take profit order based on other factors. It all depends on which broker or dealing desk a trader is using. One must remember that with live trading, the dealing desk or broker must accept the transaction, whereas the demo platform only simulates the trading environment. You are actually communicating with the dealing desk or broker, and not with the data feed only. It is kind of like a flight simulator. It is close to reality, but any pilot will tell you that it is not the same as flying an actual aircraft. One must be prepared to face the fact that they will not get the exact same results from live trading as from a demo, assuming that their emotions are exactly the same in both situations.

 
Comment by Vahid
2008-06-17 17:19:12

Hi John,

Thanks for your comment.

Yes, you are right. Some of your orders can not be approved in the real account. The broker company that provided the demo account for me, doesn’t accept and Stop/Limit order which is less than 10 pips. I asked them if it is the same with the demo account and they said yes. They were right because Stop/Limit orders less than 10 pips didn’t work.

As I wanted to make sure that the demo account is as similar as possible to the real account I talked to them a lot and they assured me that the demo account they provide is very close (if not the same) to the real account.

 
Comment by lanre lagos
2008-06-21 01:44:08

hmmm,if you dream it, practice it and achieve it. thank for sharing vahyid

 
Comment by Arsenov
2008-07-10 22:34:30

your chart and your story is bullshhit! impossible if you were such a good trader…trade with a real account!!!!

 
Comment by Vahid
2008-07-11 18:39:27

Hi Arsenov,

I do trade with two real accounts too. This was just a practice and challenge.

However I do not disclose my real trading results. I think nobody does it.

 
Comment by adewale
2008-07-22 04:48:11

pls recommend good trading software for and how i will get it.am a Nigerian and i want to be making money in live trade .ve being making money in demo account.can you help me to get or buy
forex-killer automated trading advisor

 
Comment by Tim
2008-09-05 03:03:56

Hello mr Vahid,

I love your trade result on the demo, i am also thinking like this someday when my account gets to $50,000 and above, but with strict money mgt policy.

Pls i have a very seroius question i need to ask you, I love to trade gbpjpy, but it is highly volatile more than any pair, and it has fewer news distractions, most of the time when i open position with 50 pip stopp loss, it trigers it and move the direction of my prediction, pls what can i do.

What have you find to be very workable being a highly experienced trader like yourself? what stop loss number do you recommed for intra day trading of GBPJPY? and which time frame will be much better to take buy or sell order? ( i watch 4hrs, 1hour, and 30 or 15 min to buy or sell.)

And also what stop loss number will you recommed for GBPUSD?

Additional, how useful is the use of US dollar index in trading on techical basis, do you have any article on it?

 
Comment by Bongani
2008-09-11 10:28:25

Hi Vahid

I’m in South Africa, I just recently discovered your site, interesting stuff. I know that with enough practice, you can achieve it. I doubled my mini demo account of $5000 in 20 days, but faced a different story with my real account. I guess my emotions got the better of me.

 
Comment by Venkat Patruni
2008-09-24 07:54:39

What, if any, subscription do you use for fundamental news? Also, you can get the forecast and previous values for up coming events (like fed rates, CPI, etc), where do you get the actual values as they are annopunces or known.

Thanks
Venkat

 
Comment by pritam kumar
2009-06-14 00:43:22

hello, if i take long position with 5 min chart and see exist signal in 5min chart but 15 min chart is still showing uptrend …so do i wait for fifteen min chart to show exist signal..before exist…
sorry but my english is not good.. i think u understand what i mean..

 
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