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Christopher’s FX Record $10,000 Profit Trade
Written by: PaxForex analytics dept - Friday, 14 December 2018 0 comments
Hello, I’m Christopher and I have been trading forex for over 15 years. I have to thank my first boss for nudging me into trading it really changed my life. Don’t get me wrong here, my first boss was terrible and I hated him. We all did. I think I have never worked for a more over-educated and misinformed individual in my life. He never let you forget that he had three master degrees and that we all were beneath him. I loved my job and still do, but going to work for him was the misery of my day. So why do I thank him for getting me started with forex trading?
The answer is simple. Many take a negative experience and fail to see the opportunities which are hidden in it. The hatred I had towards working for my boss made me look for alternatives. I knew I wasn’t able to just quit my job, my salary was great and I needed to keep my bills paid. Quitting is always easy and let me tell you right now that if you have that attitude then forex trading is not for you. I came across forex through a very dumb advertisement online, but it was enough to awaken my interest. The claims the ad made were ridiculous and common sense prevailed.
I took this as a positive, while I ignored the claims the ad made, I was on the right track. From my experience you can’t make a small deposit, let’s say $2,000, and expect big profits. Never chase big profits, keep it simple and focus on small and consistent returns. That is my big secret. Those who trade hoping for a big payout from a small deposit are more gambling than trading. It is called trading for a reason and the name implies that transactions are part of it. I am not suggesting that you have to go crazy and trade, but I met many forex traders who fail to profit from trading as they simply don’t know what they want from each trade.
My own forex journey started on a rocky road. I had a full-time and demanding job and first had to figure out how to work with my boss while I was searching for a better job for myself. One of the biggest mistakes a new trader can make is to “disrespect” the art of forex trading. What I mean by this is that the majority believes it is easy to trade forex from home. You sit down and hammer away at your keyboard for a few minutes while you check your social media accounts while forex profits mysteriously appear in your trading account. This and similar thoughts is why you read so many disgruntled forex traders who eventually quit with nothing but losses.
I made my first forex deposit years ago with a broker who I thought was solid. A
few lawsuits for cheating forex traders out of positive spreads later caused me to look for another alternative. Seven years ago I moved my trading portfolio to PaxForex. It was a total of $7,620 and while it may sound like a lot of money to many new traders, I did start with $15,000. Initially I crossed above $20,000, but then things fell apart for me as my strategy was not solid. I never viewed it as a loss, but regarded it as the price for my education. After I moved to PaxForex my portfolio started to turn around slowly.
My strategy was shaping up and I tweaked it enough to start making money on a consistent basis. I started out with a small lot size and set a profit target. Once I reached my target I increased my lot size. Many like to boost their lot sizes as it means bigger profits, but it also means bigger losses. I started to trade with 0.01 lots or the bare minimum. Test your strategy in a live account with this lot size and see where it takes you. Once you are comfortable you can always increase it. Ideally you will increase your lot size together with your account balance.
I add 0.01 lots after every additional $100 in my account. This has helped me to grow steadily over the past seven years. When I moved to PaxForex I had $7,620 after I started at a different forex broker with $15,000. Today I have over $300,000 in my trading account and the biggest breakthrough came three years ago when I booked a profit of over $10,000 on a single forex trade. This has nothing to do with luck, but is the reward for hard work. When you execute your strategy in the market, and are active then you will get to those trades which move a lot more in your direction as you expected.
I will never forget that trade, it was a USDJPY position and the Japanese Yen spiked in my favor as I had over 10 lots in it. Now my average lot size per trade is 25 lots which means that I make more on profitable trades and on losses, but with a success rate of around 65% I am doing rather well and keep growing my account. I was able to quit my job two years ago and the extra time I have to trade has only increased my profits. I take about 20 forex trades per month, 13 carry an average profit of $15,000 and 7 result in an average loss of $25,000 so I book roughly $20,000 in profits. I am now working to reduce my average losses in order to increase my profits. It is very important that you take the first step today so you can grow yourself into a better tomorrow, start now by opening an account with PaxForex!