Brandon’s Forex Trading Results – Now Paused
Live & Demo Trading
This is the first update in nearly a year. I took my last forex trade back in October 2016. In November 2016, I paused all trading and trading studies to focus on my next ‘One Thing’: real estate investing. If you want to learn more about my personal real estate investing and why I think it’s a superior avenue for financial independence, checkout the new site:
My trade reporting is a bit over the map. I’m now trading two demo accounts, though only one in June: Apiary Fund. Last month, I made back those losses in the Apiary demo account, but still hadn’t made a breakthrough in consistency. That month was up. This month (mid-July), I may have made a breakthrough. I started trading from the 4-hour charts and the results are impressive – up over 20% for the month so far. We still have 2 weeks to go and every week is different. Time will tell if it’s a consistency breakthrough as well. I’m looking forward to seeing how things end up for the month.
Unfortunately, I’m no longer recording monthly results. Not because results are negative, but because it seems to help performance when I’m only sharing results with a few people. I have a trading mastermind with ProAct Traders. When I can reflect more – and get a bit more consistency – I plan to be back on an actual podcast to share what happened after Episode 112. Until then –
In May, I started trading Apiary Fund. It’s a prop trading firm in the FX market. I went back to demo because I want to prove my method on their platform, not on an MT4 platform. That’s why my FX Book Account is no longer showing activity.
The first two weeks were great – I made 208.5 pips or 8.3% on the account. The last two weeks were horrible – I gave back all the gains and then some – down -6.7% for the month. Lots of tweaks along the way, but I ended up settling on the same basic strategy except on the 1-hr charts on 19 currencies, not on the lower time frames. I am changing very few of my rules now, so that may be progress. Now I just have to follow the rules: an entirely different issue.
June is starting off well, just hoping I can maintain the gains in the first half of the month. We shall see.
Last month was a much better month in my live account. I moved from multiple setups and multiple currencies to two setups and 3 currencies. It wasn’t as simple as I had planned, but it was much simpler. The net result was a losing month (-0.3%). Basically I gave up all my profit from the first two weeks in the last week of the month.
Though it may seem discouraging, I am recognizing a pattern. Trading profits in the first half of the month are easily lost in the 2nd half of the month. My goal should be weekly consistency. Even if a day doesn’t work out as planned, a week should be enough time to recover.
Going forward, I moved over to day trading (15-min) because it seems to better suit my personality. Also, I’m only using one setup now – something I learned with ProAct. Finally, I’m monitoring 4 currencies. Hoping this month will turn into my first profitable month since January.
Horrible month on my first full month of live trading with the new method. On a $500 basis, returns were -8.6% – worse on the actual account basis. On 3/23, I removed the link to the MyFXBook results. No need to look, it’s not pretty. Just trying to shift things around until I get a positive rhythm in my trading.
That said, I don’t blame my coach or my method. The problem is with me. For this month, I decided to focus on just ONE currency (AUD/USD) and one setup. Period. That way if I have a problem, I can better isolate the issue. Aiming for April to be my first month of profitable live trading for years. I am hopeful.
Last month was my first live trading. I mixed it with live trading with lower volatility pairs (AUD/USD, NZD/USD, EUR/GBP) and demo trading with higher volatility pairs. My live trading was pretty bad: I lost -5.37% taking 17 total trades. Thankfully, the demo account was positive so that offset the negative live trading. I recorded both trading in my results below. It was still a negative month, but not as bad as what the live account would suggest. The monthly results are a mix of both demo & live trading. In March, the plan is to move all trading to my live account.
This month, I started live trading for the first time in a couple years – the first time I’ve live traded forex in over 10 years. Because the podcast is delayed by a couple weeks usually, I wanted to provide a more real-time snapshot into my personal (live) trading. I created a MyFXBook account for some third party verification. Here’s the link to all the drawdowns and wins.
My plan is to update this once a month in the first week of each month. Admittedly, I’m late on this update, but still wanted to show you guys the progress (or lack thereof) on my demo trading last month. Because this method is more active, I won’t be disclosing all my trades at this point. That will happen at a later date when I connect my account to MyFXBook.
More to follow…
|Month||Total Trades||Win/Loss Ratio||~$$ Won/Lost||% Won/Lost||Demo / Live|
|Feb 2016||51||60.78%||-$18.39||-3.70%||Demo & Live|
I was happy the first two months of demo trading results were positive, but I’m now aiming for better results (10% or more) with lower risk. In November, I switched to another forex trading method – a mixture between day trading and swing trading. For the next 6 weeks, I’m getting familiar with this new method. When I feel comfortable, I will either start demo trading or trading with micros. I will post results again as soon as I resume trading, probably January 2016.