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  • Hello Everyone!

    First thanks to Nick and Will for putting together a great community and giving me an opportunity to share my experiences.

    I've just recently become part of the family so I thought it would be good to introduce myself. My name is Joe and I have been trading as a hobby for about 14 years. I started day trading during the "dot com" boom in 1999 trading stocks. I developed a system for finding and executing high percentage trades at the market open and started a trading room on Yahoo called Joe Traders Morning Plays. In about 3 months time it developed into the largest active day trading room on Yahoo with and average of 200-250 members every morning waiting for my "calls". Most of my members were small time traders like myself (I had a few that claimed I was making the thousands per day), but we were bagging between $100 and $200 consistently in about 15-30 minutes of trading! It was a great time. Sadly, between Sept 11, 2001 and the SEC enacting a law that you had to have $25K to day trade stocks, the room fell apart. I tried my hand at trading ES and YM futures but I did not do well at it so I gave up on day trading and went about my life.

    In late 2002 I saw an ad for FOREX, which caught my interest. I opened my first FX account with a company called CMS Forex. Long story short, I turned a $500 account into $5000 in about 45 days, only to give it all back in 3 I got a taste of the good and bad of leverage! I traded off and on, when time would allow, for the next 10 years. I honed my skills in technical analysis, learned a bit about macro economics and was up and down, mostly up but very inconsistent. However for me it was a hobby and I really didn't care about the money. I just enjoyed trading. In November 2011 I took a nasty DD and decided to pull out what was left and leave $100 to keep the account active.

    I really felt that I could do well trading if I put my mind to it so for a fun exercise I made a deal with my best friend of 40+ years to turn that $100 into an amount the he and I could each withdraw 3K a month from consistently...he gave me $50, which made the account officially half his...(I would have gave him the $50, but that's between us...hehehe) and I started trading in late November 2011. (I changed my FXCM to a micro account in March 2012 which is why you see the starting balance of $144 on

    In a little over 8 months the account was up over 700%..I was pretty much staying disciplined (and getting away with some mistakes too). My friend started to run numbers and we both got greedy...I started to over leverage, break my rules and the result was a 60% DD in September 2012, which came from a margin call. To rub salt in my wound the market only went another 30 pips, then dropped 400...right where I thought it would go (I was mostly short AU at the time). I was so frazzled by this that I stopped trading until just last month. I tweaked my rules a bit and quickly took the account from $328 to about $570 in under a month..about 73%. (I just had a 10% DD, but still very happy overall right now).

    I've learned a lot over the last 14 years and enjoy sharing what I have learned. I'll be contributing here on the forum and Live Trading Room as time allows. Nick and Will have done a great job with the site and I wish them, and all the traders here at much success!

    Happy Trading!
    "The trend is your friend - until it bends at the end"

  • #2
    Thanks for being part of the community here TraderFX65!

    I look forward to following your journey and possibly learning from you a long the way.
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