Hi All, haven't been posting for a while, I c many of you asking about the true potential of FX trading profits. I'm not sure if anyone is familiar with this but I am currently trading on FXCM micro and they have the King Of Micro (KOM) contest every month with the 1st 3 winners bagging 25k, 10k, 5k in prize money respectively.

Here are the recent updated results:

http://forexforums.dailyfx.com/micro-king/...nal-update.html

We have a malaysian there scoring 500+% at spot #10 last month. They haven't post the daily account result for March 09, but u can browse the ones in Feb 09 and previous. C how the winners trade and learn from them, it's another way to learn. It's something u cannot learn from books. Happy trading!

the thing is.... no single trader can repeat their success... strange.

bear in mind, that is only for standard account.
for mini you have to use their fxcm trading station.

in just one day, i lose everything i gain last week .. along with 3/4 of my capital.

i need to separate my emotion from trading

You loss because you use too big lot size, make sure your margin level maintain above 8000% above.

This post has been edited by rstusa: Apr 2 2009, 04:06 PM

i know. but when i short on GJ and GJ gain 350pips in one day, i'm speechless

You should've learnt the lesson when u lose the money along with your capital.

FX not only about how to make money, instead you should learn how to protect your capital well.

GJ tends to move rapidly whenever S/R level is broken. Make sure you put your stop loss accordingly, especially when you are betting on trend reversal.

I didn't trade this whole week, too busy with work.

er, what is S/R?

Support Resistance

cracksys,

mind sharing your analysis reasons etc.. for going short?

past few days GJ has been showing strong signals of a buy - like the others have mentioned, always keep a look out for s/r, trendline breaks.

fuh!!....remember i post i gain 50% from my capital and need another 50% to make it 100% profit?? now im losing and struggle to get back my 50% capital!!!....arghh.....!!! (now almost 45%....zzzzz)

haha. all playing with real money? hmm. im learning, so do it real small. like a few cents kind. going thru babypips while doing so... everyday or two learn a few more charts... *gambateh*

been winning so long using real money in the past week, i gained too much confident in my gut-wrench-scalping. at last it bite me.

my fault for using only 5minute + SMA/FMA chart without seeing the whole picture.

FMA?

okay, i made that up

its the opposite of slow moving average.

For me, i not really look at gj chart of the S/R, first i'll look at gu & uj chart to see the gj movement.

i can't imagine that.

Example of how to determine movement of GJ by looking at GU UJ.

GU in uptrend, which means GBP is gaining strength
In the sametime, UJ in uptrend, which means JPY is losing strength

So conclusion,GBP gain strenght, JPY lose strenght, so will lead to GJ UPTREND.