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The example is of a live trading account. Here are the facts:
L The starting live date was March 1, 2006, and the ending date
for the 50+ trades was April 4, 2006.
L The total gross profit was $4,429.40.
L The start-up margin was $5,000 (U.S. dollars) on a standard
account.
L The margin basis was a 200:1 ratio, or $500, as required per
lot to trade.
Figure 9.1 has a couple of negatives on the net profit/loss
(P/L), which were caused by staying in a trade a little too
long, thus causing interest to be charged for the overnight
stay. However, if you look at the gross P/L, you will observe
more than 50 trades in a row without a negative.
These examples of live trading histories are for illustration
and study purposes only.
Interview with Anonymous Trader #1
“This was the first time that I traded live. I completed 50
trades in a row on a demo before going live; still, I found
trading was a lot different when I was trading live.
“I did have a couple of negatives on the net profit column.
These happened because I entered the trade and had to stay in
the trade for a long time. The interest charged kept eating up
my profits until I could get out. When the market finally showed
a profit on my dealing station, I forgot to look at the expenses
of the overnight trade and clicked out with a profit. I should
have stayed in the trade longer to cover the charges, but my
gross
did show profit.”
Trade Account Number: XXXXXXXX Created at: Oct 4, 2001 11:10:33
AM Status: Active
CLOSED TRADE LIST
Ticket # Currency Volume Date Sold Bought Gross P/L Comm Inter
Adj Net P/L Condition Created by
33305 EUR/USD 100K 03/01/06 01:07 PM 1.1905 Mkt
03/07/06 06:56 AM 1.1900 50.00 0.00 .45.30 0.00 4.70 L
33354 AUD/USD 100K 03/01/06 01:19 PM 0.7443 Mkt
03/03/06 10:03 AM 0.7439 40.00 0.00 .8.60 0.00 31.40 C
38526 EUR/USD 100K 03/02/06 02:25 PM 1.2034 LE
03/02/06 08:07 PM 1.2022 120.00 0.00 .7.55 0.00 112.45 C
41869 USD/CHF 100K 03/03/06 09:13 AM 1.2977 Mkt
03/03/06 10:02 AM 1.2982 38.51 0.00 0.00 0.00 38.51 L
41905 USD/CAD 100K 03/03/06 09:22 AM 1.1331 Mkt
03/03/06 10:12 AM 1.1353 193.78 0.00 0.00 0.00 193.78 C
41959 EUR/USD 100K 03/03/06 09:30 AM 1.2047 Mkt
03/03/06 10:06 AM 1.2011 360.00 0.00 0.00 0.00 360.00 L
43291 GBP/USD 100K 03/03/06 11:06 AM 1.7531 Mkt
03/03/06 11:31 AM 1.7520 110.00 0.00 0.00 0.00 110.00 L
45233 EUR/USD 100K 03/05/06 07:26 PM 1.2072 Mkt
03/06/06 03:58 AM 1.2052 200.00 0.00 0.00 0.00 200.00 L
51902 EUR/USD 100K 03/07/06 07:32 AM 1.1910 Mkt
03/07/06 07:40 AM 1.1915 50.00 0.00 0.00 0.00 50.00 L
52024 USD/CAD 100K 03/07/06 08:13 AM 1.1449 Mkt
03/07/06 08:21 AM 1.1444 43.69 0.00 0.00 0.00 43.69 L
56781 USD/CAD 100K 03/08/06 10:05 AM 1.1533 Mkt
03/08/06 10:31 AM 1.1530 26.02 0.00 0.00 0.00 26.02 C
57233 USD/CAD 100K 03/08/06 11:40 AM 1.1559 Mkt
03/08/06 05:42 PM 1.1556 25.96 0.00 .8.70 0.00 17.26 C
57274 USD/CAD 100K 03/08/06 11:53 AM 1.1575 Mkt
03/08/06 05:42 PM 1.1556 164.42 0.00 .8.70 0.00 155.72 C
57508 EUR/USD 100K 03/08/06 01:04 PM 1.1931 Mkt
03/08/06 07:36 PM 1.1933 20.00 0.00 .22.65 0.00 .2.65 C
57526 USD/CHF 100K 03/08/06 01:10 PM 1.3075 Mkt
03/08/06 07:36 PM 1.3070 38.26 0.00 .31.05 0.00 7.21 C
60110 USD/CHF 100K 03/09/06 05:26 AM 1.3094 Mkt
03/09/06 05:35 AM 1.3089 38.20 0.00 0.00 0.00 38.20 C
64410 EUR/USD 100K 03/10/06 04:20 AM 1.1923 Mkt
03/10/06 04:32 AM 1.1922 10.00 0.00 0.00 0.00 10.00 C
67227 GBP/USD 100K 03/10/06 09:19 AM 1.7271 Mkt
03/10/06 09:23 AM 1.7264 70.00 0.00 0.00 0.00 70.00 C
67388 GBP/USD 100K 03/10/06 09:24 AM 1.7248 Mkt
03/10/06 10:20 AM 1.7247 10.00 0.00 0.00 0.00 10.00 L
67497 EUR/USD 100K 03/10/06 09:30 AM 1.1870 Mkt
03/10/06 09:37 AM 1.1865 50.00 0.00 0.00 0.00 50.00 C
67870 USD/CAD 100K 03/10/06 09:56 AM 1.1634 Mkt
03/10/06 10:22 AM 1.1631 25.79 0.00 0.00 0.00 25.79 C
73976 GBP/USD 100K 03/13/06 11:31 AM 1.7318 Mkt
03/13/06 12:21 PM 1.7301 170.00 0.00 0.00 0.00 170.00 C
74021 EUR/USD 100K 03/13/06 11:43 AM 1.1940 Mkt
03/13/06 12:54 PM 1.1937 30.00 0.00 0.00 0.00 30.00 C
75624 EUR/USD 100K 03/13/06 08:10 PM 1.1967 Mkt
03/13/06 08:16 PM 1.1962 50.00 0.00 0.00 0.00 50.00 C
78288 EUR/USD 100K 03/14/06 09:58 AM 1.1984 Mkt
|
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03/23/06 10:29 AM 1.1978 60.00 0.00 .73.70 0.00 .13.70 L
FIGURE 9.1 Live Trading History by a Neophyte Trader, 50+ Trades
Proof: Live Forex Trading Examples and Interviews with Traders
69
80061 EUR/USD 100K 03/14/06 04:52 PM 1.2010 Mkt
03/23/06 10:28 AM 1.1988 220.00 0.00 .73.70 0.00 146.30 C
84256 AUD/USD 100K 03/15/06 12:21 PM 0.7380 Mkt
03/15/06 11:49 PM 0.7374 60.00 0.00 .6.00 0.00 54.00 L
84408 GBP/USD 100K 03/15/06 01:26 PM 1.7462 Mkt
03/15/06 11:46 PM 1.7457 50.00 0.00 .3.30 0.00 46.70 L
96712 EUR/USD 100K 03/19/06 09:20 PM 1.2174 Mkt
03/20/06 09:51 AM 1.2163 110.00 0.00 0.00 0.00 110.00 C
99549 EUR/JPY 100K 03/20/06 12:21 PM 141.49 Mkt
03/20/06 04:54 PM 141.59 85.93 0.00 0.00 0.00 85.93 L
00554 NZD/USD 100K 03/20/06 07:30 PM 0.6238 Mkt
03/20/06 07:44 PM 0.6245 70.00 0.00 0.00 0.00 70.00 L
02591 EUR/USD 100K 03/21/06 08:26 AM 1.2150 Mkt
03/21/06 08:58 AM 1.2139 110.00 0.00 0.00 0.00 110.00 C
04095 EUR/USD 100K 03/21/06 10:51 AM 1.2090 Mkt
03/21/06 10:54 AM 1.2088 20.00 0.00 0.00 0.00 20.00 L
06771 GBP/USD 100K 03/22/06 04:11 AM 1.7491 Mkt
03/22/06 09:27 AM 1.7492 10.00 0.00 0.00 0.00 10.00 L
07364 GBP/JPY 100K 03/22/06 08:00 AM 204.33 Mkt
03/22/06 08:31 AM 204.15 154.08 0.00 0.00 0.00 154.08 L
08026 USD/JPY 100K 03/22/06 10:00 AM 116.82 Mkt
03/22/06 10:18 AM 116.72 85.68 0.00 0.00 0.00 85.68 L
08034 GBP/JPY 100K 03/22/06 10:03 AM 204.27 Mkt
03/22/06 10:23 AM 204.05 188.65 0.00 0.00 0.00 188.65 L
09612 EUR/JPY 100K 03/22/06 07:31 PM 141.15 Mkt
03/22/06 07:53 PM 141.07 68.45 0.00 0.00 0.00 68.45 L
09749 USD/JPY 100K 03/22/06 08:04 PM 116.82 Mkt
03/22/06 08:17 PM 116.77 42.82 0.00 0.00 0.00 42.82 C
09834 EUR/USD 100K 03/22/06 08:19 PM 1.2055 Mkt
03/23/06 10:02 AM 1.2040 150.00 0.00 0.00 0.00 150.00 L
13706 AUD/USD 100K 03/23/06 01:24 PM 0.7145 Mkt
03/23/06 03:14 PM 0.7144 10.00 0.00 0.00 0.00 10.00 L
14614 USD/JPY 100K 03/23/06 06:41 PM 117.80 Mkt
03/24/06 10:16 AM 117.79 8.49 0.00 0.00 0.00 8.49 L
25677 GBP/USD 100K 03/28/06 06:31 AM 1.7476 Mkt
03/28/06 02:21 PM 1.7470 60.00 0.00 0.00 0.00 60.00 L
26724 EUR/USD 100K 03/28/06 10:05 AM 1.2078 Mkt
03/28/06 10:44 AM 1.2073 50.00 0.00 0.00 0.00 50.00 C
31859 USD/JPY 200K 03/29/06 04:09 AM 117.95 Mkt
03/29/06 06:25 AM 118.02 118.62 0.00 0.00 0.00 118.62 L
32003 USD/CAD 100K 03/29/06 05:12 AM 1.1727 Mkt
03/29/06 08:28 AM 1.1715 102.43 0.00 0.00 0.00 102.43 C
32451 USD/CAD 100K 03/29/06 07:37 AM 1.1727 Mkt
03/29/06 08:28 AM 1.1715 102.43 0.00 0.00 0.00 102.43 C
32661 GBP/USD 200K 03/29/06 08:41 AM 1.7355 Mkt
03/29/06 11:41 AM 1.7361 120.00 0.00 0.00 0.00 120.00 C
32970 GBP/USD 200K 03/29/06 09:40 AM 1.7341 Mkt
03/29/06 11:32 AM 1.7353 240.00 0.00 0.00 0.00 240.00 C
36402 EUR/USD 200K 03/30/06 06:21 AM 1.2080 Mkt
03/30/06 06:32 AM 1.2082 40.00 0.00 0.00 0.00 40.00 C
44529 GBP/USD 200K 03/31/06 10:03 AM 1.7337 Mkt
04/02/06 11:02 PM 1.7330 140.00 0.00 .4.20 0.00 135.80 L
56856 USD/CAD 200K 04/04/06 01:08 PM 1.1637 LE
04/04/06 07:36 PM 1.1638 17.19 0.00 .6.10 0.00 11.09 C
Total: 4,429.40 0.00 .299.55 0.00 4,129.85
Posted at statement period of time: 4,429.40 0.00 .270.45 0.00
What You Can Learn from This Example
Beginning traders should not skip the time necessary to pay the
dues of practicing on a demo even after going live. To
reiterate, it is just senseless to begin trading live before
proving to yourself that you can actually trade with discipline.
Even then, you shouldn’t place a lot of money into a margin
because it is a totally different experience once you begin live
trading. After going live, I recommend you enter the market with
a small amount of live margin funds on a mini live account to
begin testing your emotions and your discipline (which you
should have developed on the demo). I am sure most people have
heard that it’s better to get your toes wet and ease in than to
just jump in and start swimming; it’s the same with the market. |
