From $1 to Million - Forex Journey

[OnlineA]

Ok, a quick backstory. I have been trading for a little over 10 years, so now I thought it might be fun to try something nobody has ever done before. I will still keep trading as before, my usual accounts and clients and this will be my side project. Similar trades, though, just different risk. The account is already at $75 now. Now, those of you who ever traded, know, that growing an $1 account is nearly impossible...first you need a broker, which allows leverage above 1:1000, because 0.01 lot is the minimum trading size, then you need a lot of skill, thats where all my experience came handy and then you need some luck, too, obviously. Because starting at $1, I had a 6 pip range to operate with...anything over 6 pips would kill the account, so the first entry needed to be 99% exact. It becomes easier as the account grows.

Since unpredictable things can happen, brokers can go down, regulations can change, I will divide this journey into 5 phases. First will be from $1 to $100, then I will open a new account, move the money there and go from $100 to $1000, then $1k to $10k, $10k to $100k and finally $100k to Million, if it ever gets there. I might even use different brokers for different phases, I will see.

So here is the current situation, I use myfxbook for tracking my account.




WISH ME LUCK!!

 

[Deleted member 1313244]

What is the actual, you know, strategy?

 

[OnlineA]

What is the actual, you know, strategy?

When I learned something in this business, then its the fact that most things being promoted to the retail trader, are pure nonsense. I don't use any indicators, nor follow any strategies, I simply follow the price. Its a combo of technical analysis, fundamental analysis, COT reports and market sentiment. Long story short, retail is mostly wrong...thats why I watch them very closely, to look for opposite setups.

 

[Deleted member 1313244]

Long story short, retail is mostly wrong...thats why I watch them very closely, to look for opposite setups.

100% agree with you on that, good luck. Following.

 

[B1TCS]

This is impressive, I wish you good luck, I also been trading forex for few months but blew some accounts.I'm backtesting daily with no indicators only price action and soon will try to do the same challenge when time comes.

 

[sadsatan]

do you mind to share what broker do you use

 

[JordanS]

When I learned something in this business, then its the fact that most things being promoted to the retail trader, are pure nonsense. I don't use any indicators, nor follow any strategies, I simply follow the price. Its a combo of technical analysis, fundamental analysis, COT reports and market sentiment. Long story short, retail is mostly wrong...thats why I watch them very closely, to look for opposite setups.

Love to hear this. Have you studied any of ICT's materials?

 

[Kingdomobi]

Keep your eyes open, use of SL is very necessarily, don't be too greedy,

Best pair to give you much within a while is xauusd but you have to study it well, goodluck

 

[Dj Co2]

When I learned something in this business, then its the fact that most things being promoted to the retail trader, are pure nonsense. I don't use any indicators, nor follow any strategies, I simply follow the price. Its a combo of technical analysis, fundamental analysis, COT reports and market sentiment. Long story short, retail is mostly wrong...thats why I watch them very closely, to look for opposite setups.

If it's not too much of an ask, I'd like to know what things you look at before triggering a trade, maybe create a video or post here?

 

[OnlineA]

Love to hear this. Have you studied any of ICT's materials?

Never heard of that until I just googled it. I spent my early days with reading other people's strategies, too...its a waste of time, I think. The basics about the market can be learned on babypips for free and then its about self-learning anyway.

do you mind to share what broker do you use

Started with Roboforex, out of the brokers with high leverage(there are only a few offering leverage higher than 1:1000), they seemed the most reliable. So far no complains.

If it's not too much of an ask, I'd like to know what things you look at before triggering a trade, maybe create a video or post here?

I don't think it can be teached or explained easily, it comes from starring at charts for years...10+ hours a day...you just start seing things repeat themselfs. Its like with foreign languages...I learned them all by practice...but I can't tell you why this word is before this other word, how its called gramatically, I just use it, because it feels right to me, from listening and reading in the language for 10+ years.

If it's not too much of an ask, I'd like to know what things you look at before triggering a trade, maybe create a video or post here?

What I can tell you, as some basics(its so easy, yet 90% of people don't do it), is to follow price strength and weakness. For example, a pair, lets say eurusd, goes down. Then it stops for a bit(accumulation) and goes further down, then it stops again. Negative fundamental news keep coming and yet it is only dropping down quick and coming right back into the range...still staying, not dropping further...thats when you need to start buying. Patience is the key...most suckers will buy all the way down, add more and more trades, but you just wait and observe and buy when all retail has given up on buying and thinks it will keep dropping further(thats when banks accumulated enough suckers and start the upmove). Same goes to selling, just an opposite scenario.

Thats as much I can teach you.

 

[Dj Co2]

What I can tell you, as some basics(its so easy, yet 90% of people don't do it), is to follow price strength and weakness. For example, a pair, lets say eurusd, goes down. Then it stops for a bit(accumulation) and goes further down, then it stops again. Negative fundamental news keep coming and yet it is only spiking down and coming right back into the range...still staying, not dropping further...thats when you need to start buying. Patience is the key...most suckers will buy all the way down, add more and more trades, but you just wait and observe and buy when all retail has given up on buying and thinks it will keep dropping further(thats when banks accumulated enough suckers and start the upmove). Same goes to selling, just an opposite scenario.

Thats as much I can teach you.

That makes sense, thanks.

I'll keep an eye on this thread to see how it goes, good luck!

 

[OnlineA]

Love to hear this. Have you studied any of ICT's materials?

I just checked this ICT thing...and looks like he is just another charlatan.

https://www.forexpeacearmy.com/forex-reviews/13001/theinnercircletrader-forex-training

 

[kweiss]

When I learned something in this business, then its the fact that most things being promoted to the retail trader, are pure nonsense. I don't use any indicators, nor follow any strategies, I simply follow the price. Its a combo of technical analysis, fundamental analysis, COT reports and market sentiment. Long story short, retail is mostly wrong...thats why I watch them very closely, to look for opposite setups.

PA is king! I am entering my 8th year of trading. Took me 4 to 5 years to realise the power of PA. Only then did I start making money.

I am on a similar journey but I started with 1K EUR

 

[OnlineA]

PA is king! I am entering my 8th year of trading. Took me 4 to 5 years to realise the power of PA. Only then did I start making money.

I am on a similar journey but I started with 1K EUR

Good luck and maybe you can share yours, too?

 

[Chielou June]

Started with Roboforex, out of the brokers with high leverage(there are only a few offering leverage higher than 1:1000), they seemed the most reliable. So far no complains.

They allowed to deposit 1 $ and start trading ?

 

[OnlineA]

They allowed to deposit 1 $ and start trading ?

No, minimum deposit is $10. Then when creating a new trading account, you have 2 options, regular with leverage 1:1000 and high risk with leverage 1:2000. On the second you can start with $1, maybe even less, I didn't try. But they close "all" trades once the account is between $0.10-20 and with a spread up to 2 pips on majors, not sure if less than $1 would survive even the smallest move.

 

[kweiss]

Good luck and maybe you can share yours, too?

I was thinking about making a JOURNEY myself here. I am on cTrader though. Or else I could share my journey on forexfactory's trade explorer. They don't support cTrader yet.

 

[OnlineA]

I was thinking about making a JOURNEY myself here. I am on cTrader though. Or else I could share my journey on forexfactory's trade explorer. They don't support cTrader yet.

Myfxbook supports cTrader.

 

[kweiss]

Myfxbook supports cTrader.

Danke!

Setting it up now!

 

[HustleTong]

Good luck with this!