Oct 17 2008
Forex Trading Report (As Of October 18, 2008)
- 9 Comment
I wanna keep this short. So let me show you a mini report of how my $25 forex trading experiment is doing as of October 18, 2008.
The Details:
- Initial Capital: $23.85 - Originally $25. $1.15 of PayPal fee was charged to me.
- Realized Gains (after day 2): $81.2 - I quadrupled my $25 investment in just two days. 320% return in less than 48 hours. But…
- Realized Losses (day 3): $95.65 - Day 3 was the day the DOW lost 700+ points, and the Nikkei 900+ points. Silly me, I rode along with them and my $105.05 took a nose dive to $11.xx
- Additional Capital (day 3) : $43.17 - Originally $45. $1.83 of Paypal fee was charged to me. I would have $78 by end of day 3
- Realized Gains (after day 4): $43.4 - My total realized gains after day 4
- Current Account Value: $110.31
The Lessons:
- Don’t sell too soon - When I sell too early, I’m losing the opportunity to earn an average of $8 to $12
- Don’t wait too long - When I wait too long, the prices go back down and I tend to settle for profits of less than a dollar
- Set a target price - Be happy if your position reaches the target price. Then move on. No regrets whether the price will soar even higher. No regrets when it takes a nose dive after reaching the set price
- Do not increase the stop loss limit - to avoid losing so much in just one position. Take the loss if need be. Cutting losses might be the best thing to do sometimes
- Do not be greedy
I tried forex trading just for fun. But now that I’m getting the hang of it, and it has such a big earning potential, I might as well make the most out of it. I’m looking at getting to somewhere between 300 and 500 at month end. Wish me luck. Happy forex trading
9 Comments on this post
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Chris Moran said:
Nice writing style. Looking forward to reading more from you.
Chris Moran
October 17th, 2008 at 11:06 pm -
Free PSP themes said:
hello po.. very informative po to..
kuha ko po link nyo from gusher.. pwede po ba X-links?
added ko na po site nyo.. sana po payag kayo.. PR 2 lang po blog ko..
salamat po..comment po kayo sa blog ko..
October 24th, 2008 at 10:40 pm
[...] post: Forex Trading Report (As Of October 18, 2008) apple, contests, eur, eurusd, finexo, foreign-currency-trading, gbpusd, geek-and-money, investing, [...]
[...] Original post by TopForex.info [...]
[...] Original post by TopForex.info [...]
[...] TopForex.info wrote an interesting post today onHere’s a quick excerpt I wanna keep this short. So let me show you a mini report of how my $25 forex trading experiment is doing as of October 18, 2008. The Details: Initial Capital: $23.85 - Originally $25. $1.15 of PayPal fee was charged to me. Realized Gains (after day 2): $81.2 - I quadrupled my $25 investment in just two days. 320% return in less than 48 hours. But… Realized Losses (day 3): $95.65 - Day 3 was the day the DOW lost 700+ points, and the Nikkei 900+ points. Silly me, I rode along with them and my [...]
[...] Original post by TopForex.info [...]
[...] Original post by TopForex.info [...]
[...] Original post by TopForex.info [...]