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How to turn $1k into $7M

Daytrader21 Updated 2 Apr.  in #Trader's blog #Trading #Statistics #National Australia Bank #Inside Trading #Australian Bureau Of Statistics
When it comes to trading everyone dreams of becoming the next multi-millionaire guy. However statistics says that there are only a handful of people who achieve superior returns in this business. When you lack skills in the game, greed can push some peoples do illegal stuffs in order to achieve your goals. Today's story is about a former National Australia Bank foreign exchange trader who managed to turn $1k into $7M in less than 1 year.
You may think this guy may have some extra talent and have…
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New Month, New Goals

Daytrader21 Posted 1 Nov.  in #Trader's blog #Trading #Goals #Performance #Live Account #Contest Account
Since a new month has started and after inspecting my past performance in the contest and what went wrong I realize that the number one mistake I make is taking trades that are not meeting my trading rules and I do this out of boredom as I'm waiting for my setups to show up so I can take them in my live account I'm finding myself taking experimental trades in the Contest account which turn out to be not so good trades as usually I go full margin in.
In order to counter this weakness I thought t…
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4 Comments
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Olga18375 1 Nov.

Have a good November)

JuliaBF avatar
JuliaBF 2 Nov.

Good luck!

Metal_Mind avatar
Metal_Mind 3 Nov.

nicly thought. cheers bro. I finnaly have my internet setup . >)))

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Daytrader21 3 Nov.

Metal_Mind Welcome back online:)

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New Month, New Goals

Daytrader21 Posted 1 Feb.  in #Trader's blog #Trading #Discipline #Risk #Goals #Demo Account #Reward
Since we have entered in a new Contest Month I've decided to set new goals for the current month as last time I've managed to destroy my account from the first day. I found out that when I'm trading with the demo account I tend to take unnecessary risk and I enter some trades that I should have never look at them. From now on I want to exercise strong discipline and only take strong setups with a risk to reward ratio at least 1:2. I'm sure that I can find at least 10 trading opportunities for th…
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sankit 1 Feb.

Goodluck !! :)

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Daytrader21 1 Feb.

Thanks buddy, good luck to you as well

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Daytrader21's 2014 New Year's Resolutions

Daytrader21 Posted 31 Dec.  in #Trader's blog #Trading #Goals #2014 New Year #Resolutions

During this time of the year you probably will hear so many promises so many new changes, and self-improvement rhetorics that peoples make to themselves, that you'll believe the world is going to turn into a wonderful place. What is curious is no one is forced to make this new year resolution but everyone is doing it of it's own will, maybe is something that makes you fell good about yourself or just heard mentality. We have seen this happening over and over again, gyms get full in January and …
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5 Comments
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rokasltu 31 Dec.

Great targets! I will subscribe for your signals and benefit too in social trading contest!

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Metal_Mind 31 Dec.

Good luck buddy hope to see your goals come true !!!

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FxMidaso 1 Jan.

Good luck, mate.

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Atashi_Tada 10 Jan.

that's good approach! I tried several ways but every year is the same - I do it for the first month and then forget about them :)) I'm gonna share mine ones soon in my blog too

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Daytrader21 10 Jan.

Atashi, I'm looking forward for your NY's resolution

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Wish You All a Merry Christmas

Daytrader21 Posted 25 Dec.  in #Trader's blog #Trading #Christmas #Recharge #Mental Batteries

During this time of the year traders are likely to perform poorly as market conditions aren't good, and during this time traders must exercise discipline and cease trading. Christmas is a time for families and a relaxing time spent with loved ones. So do yourself a favor and take a break. The markets and opportunities will always be there when you get back. This may be the best trading decision you can make during this time and as well you can recharge your mental batteries for when you'll star…
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alincik 25 Dec.

Craciun fericit!

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Daytrader21 25 Dec.

@alincik Sarbatori fericite si La Multi Ani:)

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sonjatrader 25 Dec.

Merry Christmas!!! tomorrow after recharge of bateries let´s trade again.Nice article

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HOANG_MAI_NHI 26 Dec.

Congrat to u in 1st

Metal_Mind avatar
Metal_Mind 26 Dec.

MErry Christman bro !!!

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Holiday Trading, Reasons to Avoid Holiday Trading

Daytrader21 Posted 22 Dec.  in #Trader's blog #Trading #Liquidity #Banks #Christmas
Next week we'll be entering in Christmas week, were the majority of market will either be closed or if opened the trading activity will be very low as is in the case of the Forex Exchange market. With the major banks being closed during the Christmas day, and we know that banks are the biggest participants in the Forex market, liquidity will dry away. Even during normal days liquidity will vary throughout each trading day differently. A low liquid market will tend to have prices moving more dram…
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2 Comments
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geula4x 22 Dec.

+1 Liked: Nice post on an important topic! :-)

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HOANG_MAI_NHI 27 Dec.

very good, i will scalp :P

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GBPNZD Trading Crosses

Daytrader21 Posted 9 Dec.  in #Trader's blog #Trading #Nfp #Support #Resistance #Crosses #GBP/NZD
The crosses currency pairs can provide you some great trades as well as they tend to move quite a lot, and although this currency pairs may have a wider spread this can be offset by the fact that they trend in a daily range of 200p pips or even more. Cross currencies simply refer to currency pairs, or crosses, that do not involve the US Dollar. Trading in these pairs is often more difficult and riskier than trading major pairs, but as I said earlier you can make lots of pips trading them if you'…
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3 Comments
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Metal_Mind 14 Dec.

It is a great pair with a huge potential. The volatility in this pair is a double edge sharp sword that usuly slice your account in two if you take to much exposure. From my personal notes on live trading this pair i discovered that higher performance while trading this pair is to trade it on low volumes or for example 10 % max exposure .The fact that this pair can instantly rise 100 or even 200 pips in a 1 to 5 minute period very easily without major news involved makes it very dangerous to trade.What makes it profitable is a strict money management.

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Metal_Mind 14 Dec.

Large volumes traded in a run for short term large profits will get you bankrupt quickly.The most that you can profit of this pair is by trading it alot in smaller volumes, expusure. You will take smaller hits to your account but you will survive. This pair is not EUR/USD. !! This pair is not a pair you want to be bleeding......It ca jump 100 pips in 5 minutes against you and next hour another 200 pips against you. You had a bad trade ...Close it . Accept your loss and go further.I wrote from my personal live trading experience. My buddy Daytrader 21 can confirm it.

Metal_Mind avatar
Metal_Mind 14 Dec.

Good blog buddy !!! Very good!

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