‘Start thinking it is easier and you will find it harder. Start thinking it is harder and you will find it easier.’’ – Peter Bain
Attached are the results of my trading activities last week. The results on both demo and live accounts are similar – only equities are different. I treat my demo accounts exactly like live accounts.
ITU GLOBAL STRATEGY
EURAUD Sell: -$151.52
GBPUSD Sell: $324.00 (53-pip trailing stop applied initially, later adjusted to 73 pips)
EURUSD Sell: $380.64 (72-pip trailing stop applied)
EURJPY Sell: $598.10 (80-pip trailing stop applied)
EURNZD Sell: $95.12 (82-pip trailing stop applied)
EURGBP Buy: $404.39 (72-pip trailing stop applied)
USDCAD Buy: $279.44 (74-pip trailing stop applied)
USDJPY Sell: 158.83 (80-pip trailing stop applied)
AUDUSD Sell: $519.42 (73-pip trailing stop applied)
NZDUSD Sell: $514.58 (75-pip trailing stop applied)
There are no open trades at the moment. I moved ahead by 28% last week (risking 1.5% per trade). I was looking for a sell signal on EURGBP, but when my entry criteria were met, it was already a buy signal.
MUSTAPHA SURE-FIRE STRATEGY
I told you last week that I’m testing one idea of mine (and it’s working like magic). I incorporated some trading secrets into this idea. I moved ahead by 13% on this account last week – giving me 21% returns in 2 weeks (while risking 1.2% per trade). My goal is to compare this strategy against Itu Global Strategy for 6 more weeks before I decide which one is more profitable (both of them are profitable). You know each of these accounts would’ve doubled if I was risking roughly 4% per trade, but I’m not a gambler. It’s possible to make money both in good and bad markets – or to survive the bad markets at worst, and then move ahead when the markets are favorable to you.
According to my role model, Dr. Van K. Tharp: the systems that perform well tend to have a reliability of around 40%, which have average gains that are bigger than the average losses… You can have a method that is right 80% of the time and still won’t make money. Why? The reason is because the gains are small and the losses are large.
It’s sometimes better to be realistic than to be idealistic. For us to get the right results, we need to do the right things. This has nothing to do with our education. The markets don’t care which university you graduated from. A PhD can crash on the markets, while someone with little education can survive consistently. Some years back, I knew I got to learn from my mistakes and stop fooling myself in order to make progress. We can’t keep repeating the same methods that have blown our accounts in the past and still be expecting brighter results! I’d like to conclude with this quote:
‘No College degree will guarantee your market success.” — Michael Covel (Turtle Trader)
Your questions and opinions are highly welcome.
With best regards,
Forex Signals Strategist, Funds Manager &Coach
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