Easier said than done

Deposited $500 into the account on 2 May.

On the first day, got into a trade, loss of of 6.4 pips because the trend doesn't seemed to be going my way, then up a good exit, because it went further against me.

3rd May got into another trade on USDJPY which ended in profit of about 25 pips.

4th May, got into 2 trades and loss both

5th May, which is a Friday, managed to secure a win which made my account positive.

Was on the bus home from work and took a look at the USDJPY chart, there was a sudden spike in the M5 or M1, and I decided to enter a short position. because I was using my phone, I didn't check the amount of lot before entering and entered 0.02 lot.  Cut things short, it ended in a loss.
Following which, I try to keep it cool and entered a good opportunity on gold. This time was a quick loss, the moment i entered, the price spiked against me.

Feeling tilt, I entered a position at 0.1 lot.  needless to say i lost it very quickly, and took a 0.2 lot trade next. it was slightly in positive and it close it earning  I guess the price went up like 1.5pips?

Not satisfied with my weekly close from winning to losing, I entered once more when the gold was near the resistance. I monitored the market at M1 for about 5 hours to finally close at a positive of 9 pips? haha

Weekly summary:
Total trades made: 10
Trades won: 4
Trades lost: 6
Profit: -2.8%, -$14.05

Goal for next week

• Not more than 5 trades, be patient. 
• Stick to 0.1 lot, regardless
• Was looking at the prospect of trend trading by putting in multiple lots, but let's keep that to a later period. 
• Wait for set up and confirmation before entering trade.
• Higher high, lower low CLOSE 
• candle must close before entering. 

Sustaining a Trading Strategy for 100 trades

Overview and Goal of my trading

• Stick to the plan for 100 trades 
• Move SL to Breakeven if in profit for 30 pips 
• Do not move the TP 

Time Frame Used

• D and H4 for trend and S&R
• Entry M30 and 1H

Trading Time

• Looking at charts in the morning and evenings 
• No trading or looking at charts during working hours

Currencies

• EURUSD
• USDJPY
• GBPUSD
• AUDUSD 
• USDCAD

Setups

• Entry as near to support and resistance as possible
• Use Fib as extra confirmation 
• Calculate risk before entering trade

Money Management

• Risk to Reward, 1:2 
• Use 1% of bankroll until a 10% increase or decrease in bankroll 

99% of Forex Traders Fail

Was exposed to forex in the October 2016. Started reading up and learn more about forex.

It seemed like an easy concept with a binary result. Either up or down. 50-50 isn't it? 

I think I first deposited around November or December 2016 with $200 initial capital. 

On the first day playing with it, I download the MT4 on my phone and fiddle with the market. 

Enter a few position of 0.2 lots each, and managed to double my account on the 1st day. Well of course, I lost everything by the end of the week. Took a week break and deposited another $300, which I blew it as well. I deleted all my forex followings and forex youtube channel which I subscribe and basically get away from Forex. 

After a couple of month, maybe in Feb or Mar 2017, I started to read into forex again. And on 12 April 2017, I deposited $500 into the account and ready to trade. I took 2 trades on the first day,Monday, and up to 10 trades on Friday. Even though my winning rate was only 40%, but I was in slight profit for about 3%.

However, I started to lose my focus. It began when I opened too many positions(Greed). I followed hearsay about currency and just entered position. I entered even more position after hearing about their confidence level. When the market went against me, I panicked and closed my losing positions. 

This led to a series of losses. By the 2nd week I had 9 out of 12 losses. and even tho I was actually in a good position of $468, I tilted and put 0.5 lot into a pair which my friend recommended. It went in my direction and was profiting for about $30, which I could have closed the position. But, greed took over and I held onto the position. Suddenly, I went opposite my direction and I was losing $100+. I panicked again and closed my losing position. Looking at the red numbers on the screen, I entered another random pair for 0.4 and lost that as well.  Technically I lost 40% of my account that day. 

On the friday on the 2nd week, I entered a position which my friend recommended and he was SURE it was going down. I followed his 'tip' and held the position over the weekend even tho I KNEW there was a French presidency election, and there could be Gaps. But I held a 0.1lot position wanting to recover my losses. Even though at the back of my mind, I knew there was a chance of gapping, I was hoping it would be in my direction. 

Third Week, Monday morning, checked my phone and saw the positions were closed. I made a loss. with less than $100 in my account. I blew this account in 2 week, :<

99% of forex traders lose money. Is it that hard to win on a consistent basis?  

Future plan

Opened 2 account,

1 for scalping 5-10 pips with huge SL,

1 for trading the normal way, with 1:1 Risk to reward ratio. 

Will deposit money in again, once I've shown profit consistently,DISCIPLINE, in either account.

99% of forex traders lose money.

Is it so hard to trade for a living?