I Am Down 430 Pips
February 22, 2007 by Trader Rich
Like I said yesterday, this month has not been a good one for many reasons. I'm currently at -430 pips for February. The good news is that I finally caught up on recording 2 weeks of Forex trading history which can always be viewed at http://www.forexproject.com/My_Trade_History.
The results could be worse… Before I completed the history update, I had feared I was down over 600 pips so seeing -430 was a little encouraging. I actually feel like I may be able to recover with 4 trading days left in this shortened month of February. I've lost on 3 straight h-system trades which is really indicative of how this system has performed overall for the month, lousy. http://www.forexproject.com/H_Trading_System
My savior was an EUR/USD trade I took last night where I was able to capture a total of 129 pips(3 lots). I might have been even more severely in the red if it weren't for this.
I have not been able to follow some of the Lien Schlossberg trade calls but from what I can see, they may turn a slight profit this month. On the 11 trades I've personally taken due to their calls, I've only profited 2 pips. But as I said, I've missed a couple of their calls that were profitable.
I'm starting to get back into the swing of things now. I also feel good about the fact that this website is still alive and running. I almost had to shut it down or risk having 1/2 of it taken from me due to the divorce. It's kind of funny that this site was even mentioned in a settlement proposal because I don't make a damn thing compared to the work I put in to it. Nevertheless, this site is all mine and will continue to move forward.
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just found your site doing a google and wanted to express my gratitude - looks very insightful & look forward to reading more hopefully in the days and weeks to come!
430 pips is nothing, you’ll regain it in no time. Do you mind if I ask what percentage of your account did this drawdown mean? The only big losing period I had was just a few months after I started trading live and I was down 20% from my starting capital. I didn’t trade for 2 weeks, but when I got back I managed to regain everything. So keep your cool, everything is ok.
Hey Man,
Im starting to learn more and more about this on a daily basis and your site has certainly helped a great deal. Stay Strong, keep the site going as this is a great place to steam!
Thankyou
Hi,
I am trading greenbuck for an 9 months. I have lost 70% of my capital. I did not give up and I already know that I will never will. People can be nasty, market is always place where you can see yourself in “clear” mirror. If you give up, what will last. Take this just as another obstacle. I underestand it is pretty tough one, but it is still just an obstacle. If you will be able to survive you will become as stong as this current obstacle is. More barriers you will go throug stonger man you will become. Good luck.
It’s nice to see such level of honesty about bad results.
Stefan, the drawdown on my capital is about 15%. I appreciate all of the encouragement. The amazing thing is I don’t feel terrible like I once did when I was losing. Maybe it’s because I believe I can make it. We’ll see.
Trading forex is a risky investment but has a great rewards. I started trading forex since May last (2006) year. I went through lots of ups and down in my first year but ended up with a profit of $8,295 for the year. Not bad for a newbie.
I keep track of all my investment profit and loss on a monthly basis but my goal is to end the year with a profit.
Keep faith on your trade and you will success.