The beginning of something good or beginning of total failure?

So this is the story.  I started to look into the world of currency trading just about a year ago.  Lots of reasons behind the interest, but not really relevant right now.  The beginning was rough; didn't understand half of the vocabulary and terminology, but driven by determination I did lots of research and studying.  It didn't take too long to get the basics down, but I knew it wasn't even close to enough.  To keep it short, after a few months of studying and paper trading, I went ahead with a demo account.  It was a great way to get a feel for what actually happens in the market.  In May of 201, after gaining some confidence, I went live...  Very differnt from paper trading or demo trading...   My intention was to keep on learning in a live environment with a small account.  I kept on studying and trading live occasionally.  In 7 months I traded live a total of 30 days or so.  The result of those "30 days or so" of trading was a loss of about 5.5% of total equity.  During those 7 months there were many moments where I considered quitting, but my determination was far too great.  More studying, more research, more webinars, more paper and demo trading and the occasional live trading.  As november was coming to an end I decided that I wanted to try "full time" trading on a live platform.  I came up with a schedule and a trade plan and began trading full time on the 1st of December 2011.  We are now in the 3rd week of the month and I'm quite happy with the results.  I made back the 5% loss and with a 2.9% gain.  So far it's about a 7.9 percent gain in 9 days.  I still have a lot to learn, but I think I'm doing ok...  I'm trying to make about 1% a day, and still a bit short, but either way I'm quite pleased.  But of course, it's been only a few days of actually being "serious", so anything could happen.  I'm hoping that this is just the beginning of good trading and not just a streak of luck or the beginning of total failure.  I'm quite confident that if I stick to it the way I've been doing, things should be ok. 

I'm pretty much writing for myself to keep track of the overall picture and as a mental excercise, but if anybody actually takes the time to read.... thanks in advance for your time.  Hopefully one day I will be abe to be more active by posting something that's actually interesting to read. :)

Views: 247

Comment by Masakazu Shirane on December 13, 2011 at 2:03pm

Thanks for the encouragement!  I will indeed keep on rolling!  :)

Comment by Trebs Acre on December 13, 2011 at 9:34pm

No matter what happens, dont quit.

Only when you stopped learning, then quit immediately.

Comment by Andrew Lewis on December 13, 2011 at 11:10pm

watch out for seasonal changes in the market. Trading during the holiday season is one thing, then trading jan.-may another, then trading the summer is another, then the fall is another animal. Once you've gone through an annual cycle two or three times you'll be able to change your methods with the market.

Comment by Geert on December 14, 2011 at 8:03am

Hi there Masakazu,

Reading your post, i think you're doing really good.  I'm trading for about a year now - not full time - and did not as good as you.  I even blew up my first account.  Thinking too soon I knew the game, and following trade ideas from people i thought were good traders.  Now I know better.  Just focus on your tech analisys, look at the trend and stay out on big news events.  Also money managment and risk/reward to keep in mind.  And in my opinion, always stoplosses.  Whit all that in mind and some training, you will be able to do better than 1% a day, believe me.

Good luck and safe trading :-)

Comment by Masakazu Shirane on December 15, 2011 at 3:22pm

Thanks everyone for the input. I definitely will keep on studying and practicing and hope to learn something new everyday. Andrew, I've read about seasonality and I've "sort of" seen it during my "observational months", but I'm yet to experience it. Thanks for the reminder!  Lisa, hopefully I will post something at least once a week :P Geert, thanks for your time.  I will try my best not to blow any accounts!  Things like money management and the such are actually easy to understand, but when it comes to actually applying it, I still find it difficult many times.  I mean afterall we all probably know just enought to make videos and write books just to sell them without ever taking a trade....  I don't know if rumours are true, but there are teaching gurus that have never traded??  What's the fun in doing that anyway?!?  It's like going to a blind optician... What I do find fun and interesting is sharing thoughts and ideas with fellow traders; thoughts, ideas, comments, advice, jokes, scolding.... whether they come from an expert or a novice like myself, there's probably something to learn from every shared word.  So thank you all again for stopping by!! :)

Comment by Geert on December 15, 2011 at 4:26pm

Masakasu,

There are some laughs in the chatroom: some serious thought, some funny people, some intelligent people ans some stupid people, some helpfull people and some people who never say a word, and even a MASTER. Men and women from all around the world.  A world of its own.  Hope to see you there sometime.

Comment by Masakazu Shirane on December 15, 2011 at 4:36pm

Hey Geert! I'm actually one of those people who never say a word in the chatroom.  Well,  actually I have asked a couple of questions before, and they were all answered wonderfully.  So I'm actually there, but I'm the quiet one in the corner.  I will speak up someday!!  :)

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