Market recovered nicely on both GBPUSD and GOLD ,i exited a bit early but the initial crisis is over for these position. For now i will focus trading until complete the first x2 before i post again at this thread as it has been a bit dragging the past 2 weeks and also i am going over the planned time frame a bit for the first x2. From what i see, the first x2 seem to take the most time, and it should be smoother to push to next x2 after completing it, just like driving stick shift that the first gear is take more maneuver to get the car going smoother with the later gears.
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x2 model (double money) in fx and gold trading
- Thread starter marketdecoder
- Start date
Just want a quick important update.
After the last crisis in GBPUSD that make equity dropped to around 1K area (from 1.19K + 1k dealer credit = 2.19K), then bounced back when GBPUSD and Gold recovered, I was able to move forward after recomposing and slowly pushing back the past 4 weeks. The equity moved up to 1.7K profit as of now from 1.19K profit when first moved to IMMS, that i will move this 1.7K again to Hotforex.com as its final destination from now on as it has very ideal trading condition for the X2 model trading with low forex spread of 0.5-1 pip (1 pip commission - no rebate) and 0.2-0.3 GOLD spread with no commission. Coming from the 4 pip spread on Forex and 0.5 point spread + 3 pip commission of IMMS , this is a major improvement on trading condition that i will take full advantage of to complete the x2 model with 3-4 times doubling goal. Below is the summary and break down of details in equity movement the past 4 weeks.
In summary,
on 2-10-2014: we moved 1,119 USD profit to IMMS + 1K dealer credit - 2,119 ,
on 2-15-2014: suffered a big dip to 1,000 , deposit additional 1089.40 to bring Equity back up to 2K (required by dealer IMMS).
on 2-22-2014 - 3-8-2014 , win back 1100 and offset the 1089.40 deposit.
on 3-8-2014 to 3-15-2014 - win 600 USD, to push profit to 1,710 USD. This 1,710 USD will move to new Hotforex account.
Hotforex account will be very straight forward number to keep track without any commission rebate (since it is low and no commission in GOLD), no additional deposit needed to keep equity in certain level. Basically, it is what you see is what you get. Will post Hotforex account on next update.
==============================
Details break down week by week as below
After the last crisis in GBPUSD that make equity dropped to around 1K area (from 1.19K + 1k dealer credit = 2.19K), then bounced back when GBPUSD and Gold recovered, I was able to move forward after recomposing and slowly pushing back the past 4 weeks. The equity moved up to 1.7K profit as of now from 1.19K profit when first moved to IMMS, that i will move this 1.7K again to Hotforex.com as its final destination from now on as it has very ideal trading condition for the X2 model trading with low forex spread of 0.5-1 pip (1 pip commission - no rebate) and 0.2-0.3 GOLD spread with no commission. Coming from the 4 pip spread on Forex and 0.5 point spread + 3 pip commission of IMMS , this is a major improvement on trading condition that i will take full advantage of to complete the x2 model with 3-4 times doubling goal. Below is the summary and break down of details in equity movement the past 4 weeks.
In summary,
on 2-10-2014: we moved 1,119 USD profit to IMMS + 1K dealer credit - 2,119 ,
on 2-15-2014: suffered a big dip to 1,000 , deposit additional 1089.40 to bring Equity back up to 2K (required by dealer IMMS).
on 2-22-2014 - 3-8-2014 , win back 1100 and offset the 1089.40 deposit.
on 3-8-2014 to 3-15-2014 - win 600 USD, to push profit to 1,710 USD. This 1,710 USD will move to new Hotforex account.
Hotforex account will be very straight forward number to keep track without any commission rebate (since it is low and no commission in GOLD), no additional deposit needed to keep equity in certain level. Basically, it is what you see is what you get. Will post Hotforex account on next update.
==============================
Details break down week by week as below
2-15-2014 - receive commission rebate 323.50 in commission - Deposit additional 1089.40 to hold equity = 2000 USD - required by IMMS (as equity dip to 1K during GBPUSD crisis)
2-22-2014 - receive commission rebate - 110 in commission - withdraw 377 to offset part of the initial 1089.40
3-1-2014 - receive commission rebate 134 in commision - withdraw 452 to offset part of 1089.40
3-8-2014 - receive commission rebate 337 in commission - withdraw 284.96 to offset 1089.40
by 3-8-2014
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Done offsetting for the additional 1089.40
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Done offsetting for the additional 1089.40
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3-15-2014 - receive rebate 241 in commission - withdraw 1,710.82 profit (compared to 1,119 when first moved to IMMS) to move to Hotforex account for better trading spread and low commission.
3-15-2014 - credit out intial dealer 1K
3-15-2014 - credit out intial dealer 1K
Hotforex account will be updated on next post, meanwhile IMMS MT4 can be found at www.imms.com.vn or search for IMMS with MT4 on mobile phone. The account is zero out now, but history can still be verified from 2-10-2014 to 3-15-2014 along with equity movement as posted earlier using:
username: 310097
view only password: trade2x
Upon touching 2K profit on first x2 at Hotforex, i will still select 3 official users to verify trading from 3-17-2014 and go according with the agenda. In term of timeframe, i am very behind, but in term of moving forward, i feel smooth now that we are having a better trading condition at Hotforex and learned from the rushing over-trade mistake. In another word, i am much more composed at this point going forward.
username: 310097
view only password: trade2x
Upon touching 2K profit on first x2 at Hotforex, i will still select 3 official users to verify trading from 3-17-2014 and go according with the agenda. In term of timeframe, i am very behind, but in term of moving forward, i feel smooth now that we are having a better trading condition at Hotforex and learned from the rushing over-trade mistake. In another word, i am much more composed at this point going forward.
You have the mentality of a scammer.
You, as a registered CTA opening accts with certain foreign brokers with very low margins (as prohibited by CFTC laws ) is a series 3 license revocation waiting to happen. Then on top of that, you take what the CFTC will easily label as grossly excessive risk taking to show huge profit gains in the hope of attracting clients.....that is MISLEADING and DECEITEFUL BUSINESS PRACTICES.
= TOTAL UNPROFESIONALISM.
Sorry but ppl like you should never work in the financial industry or manage other people's money.
I hope the CFTC and/or NFA see this thread....
You, as a registered CTA opening accts with certain foreign brokers with very low margins (as prohibited by CFTC laws ) is a series 3 license revocation waiting to happen. Then on top of that, you take what the CFTC will easily label as grossly excessive risk taking to show huge profit gains in the hope of attracting clients.....that is MISLEADING and DECEITEFUL BUSINESS PRACTICES.
= TOTAL UNPROFESIONALISM.
Sorry but ppl like you should never work in the financial industry or manage other people's money.
I hope the CFTC and/or NFA see this thread....