Think Big, Trade Small

Filed Under (Journal) by Casey on 31-07-2012

That should be the way.

If you haven’t read this book “Think Big, Act Small”, you should. While it does not have anything to do with forex trading or it may not be all that relevant, to a solo trader, it does however provide some idea on how to do things.

It took me quite sometime to figure this out, but I guess better late than never.

Over the years I have been dabbling with EA hoping to make some money from forex. I have tried different ideas, different strategies, different EA, different brokers, different everything. And I guess I have no where close to success.

I have been fortunate that over the years, this website of mine have at least cushion some of the blow which I have experiences over the years. Gave me balls to try out different things in a very extreme case.

Of course one of it was my famous Martingale escapade. Until today, I am still drawn to it and it is a very expensive hobby if you ask me. So while I still have an itch to scratch with Martingale system, I guess it is time for me to put some medicine on it and reduce this itchy feeling.

Lovely Megan is still alive and kicking and trying to make some ‘cents’ out of it until it bust me up finally. I have recently testing this on Instaforex just to see of a 1:1000 leverage helped in my Martingale escapade. So far it has not been encouraging.

I have also started to test another Martingale ea, I have been unsuccessful again… but recently, I stumble upon a broker which would probably help me in this case.

Anyway, those are the two Martingale EA that I am toying around with. Apart from that, I think that would be just about as much Martingale as I can take for this life time.  I was previously enticed to take up Forex Envy… but after calculating the cost and contemplating on my fear. I decided against it. My thoughts were, if you can’t afford it, fu(k it.

$400 a pop plus a quarterly fee of $40 plus a $400 account to begin with. Is just too steep. Might as well I continue to focus on what I have and optimize it.

Anyway, apart from that I have been going back to scalping EA… and apparently it have been pretty successful this far. *KNOCK ON WOOD* I always have this jinks whenever I start blogging about how an EA have been ‘successful this far’, I get a big drawdown on that account after that.

It’s shitty… I guess that is the reason why no one actually talks about their successes over and over and over again. When shit happens to their account, they are quiet like a mouse. Like me!! Hehe..

Anywayzzz… I started to look at things in a bigger way but started to trade small and not trade like what the manual suggested to trade all the 9 to 10 currency pairs. I now if possible only trade with a maximum of 4 pairs and grow from there.

Over the past few months, not only have I work hard on my current day job. But I had also work night on my forex escapade… Reading and learning over and over and over again. Trying to be in tune with the great god of traders… and work on my private style of trading forex ea.

It’s long and tedious. And one must need patience. Without patience there can not be success.

This is one of the reason why so many people fail in trading forex EA. They think that forex EA is a plug and play solution to living the life of Bill Gates.

The only people laughing are the forex ea developer, forex broker and the forex traders. Without sheep’s like me… how do you think they earn their living?

And so… I begin my transformation from a sheep to a wolf… So that I can get my fair share of forex meat. The idea that I can be successful in trading forex ea is still alive in be. But I believe I need to take a few notches of my gear and start looking to trade small. Even if I am earning peanuts to every trade, I believe in the long run it should work…

As always… let’s just see how this transformation will turn out.

Trading Point – EUR

Filed Under (Live Account) by Casey on 09-07-2012

  • Broker: Trading Point
  • Leverage: 1:888
  • Currency Account: EUR
  • Started: Jul 9, 2011
  • EA Use: IvanaPipALot

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Forex Jealous

Filed Under (Journal) by Casey on 08-07-2012

I have been laying low for a few weeks now. There is a reason for that. Not only… as usual… busy with my day job. I was working hard on improving Megan. My now considered personal Martingale EA which I am currently recoding it.

Ok… don’t know if it was jealousy, but Forex Envy did kind of encourage me to or work on Lovely Megan more. I previously mentioned before that, Martingale strategy could be successful if applied properly. And Forex Envy did kind of beat me to it.

Yes, people will say Martingale EA will fail, in due time. And the key word is always ‘In Due Time’

But then again… For this matter… ALL EA will fail in due time. No? If not all, most of the EA…

Anyway… to go back to this topic here. I was also pretty put off but yet intrigue by how Forex Envy has structure it’s business. Firstly the EA is gawd dang expensive. $379, but there is also a quarter subscription fee of $39.

I was like… $HIT!!! I am not going to dive into such an expensive EA with a risk that it could probably blow my account in one blink of an eye? Ok… truth be told, I wanted to invest in it… that was when I thought it was going to be a one off $379. But when I saw that there was going to be a subscription fee. I said probably not.

Now Forex Envy does offer a PAMM account, so if you don’t want to invest in the EA itself. If you don’t want to pay so much, then for a minimum investment of $500, you can take a ride with them. And looking at the stats of their PAMM account, it is pretty successful.

Now, that I could probably participate but rather than focusing on Forex Envy, I thought it would be a better idea to focus my time and money on improving my own.

In due time… Lovely Megan will again shine!! And this will be my answer to Forex Envy…