Populated Initial Made Easy

Populated initial

in forex making huge profits within a short period of time is actually possible but without a well-designed and detailed risk management strategy one bad trading move can wipe out everything [Music] do you remember the last video myfxbook.com an online journal but what is it why is it so important just take a look what do we have here on the home screen of myfxbook.com well this section how can my facebook help you analyze your accounts advanced stats innovative dashboard up to date with the market and we can have a public page bring our trading skills to the table and we can learn compare and improve with the help of a community and we also have you know we the choice of publishing um account statements for a potential trading firm to see if you fit their team well useful maybe in the near future now unless we sign up we can't do any of that if we don't want to do any of that but just open a forex account and trade believe me folks we are leaning on the weak side of the wall so those of you who would want to do it the time-tested way we have no option but just to do it so so let's sign up go ahead and click this button i promise you'll thank me later now create a username put your email create a password i put it again a taker of the captcha 7 7 y 7e i agree submit well i'm account to create it successfully please check your email so now let's click this ok and go to our inbox open this email activate account now now payback fx is a rebate program brokers pay a rebate to my facebook if traders open accounts through them or they connect their accounts to my facebook as a nice gesture my facebook pays a potion of those rebates to us well to earn money through those rebates we need to trade they don't just pay for opening accounts i don't use it because the broker i prefer is not participating in the program feel free to check if you are interested it doesn't apply to me so let's get rid of this for now congratulations you have successfully activated your account remember before we signed up the screen was displaying some features add over forex accounts dashboard and so on this is not that page this is just thanks for choosing us kind of welcome page so let's uh hover over the home button we can open one of the tools like economic calendar forex calculators news and forex articles let's just click the home button the page changes lots of information we have here the sessions at any point in time there's at least one market open and there are a few hours of overlap like what you see here we read the map from right to left see the red line halfway through the london session new york session opens and there's an overlap both european countries and north america are actively exchanging money it's a nice tool but we won't be using it in our trading method by the way the forex market is open 24 5. what that means is from 5 pm eastern standard time on sunday until 4 p.m eastern standard time on friday slight changes apply during daylight saving months and here we have streaming for news feel free to open and read i'm not doing that reading forex news articles may seem like a wise move but remember it can in no way help us move into that elite one percent if you don't believe that try whatever you can and then come back to our channels um down below you have economic calendar you can follow this calendar but i use forex factory i just like the interface of forex factory i'll put a link but you can use this too remember our trading approach doesn't depend on news but we can't be oblivious to news releases so we need some calendar just to be alert right below that we have the discussions by the community once you open an account you are a part of the community you post comments or not um i think we are getting closer to the journaling part you see here somebody has managed to get a five star review for their comments this is the beauty of my fxbook.com you can see that person's profile see they they didn't share anything no trading activity nothing in the about section well not a good idea to follow them okay remember the sentiment tool from the last video we have another one here feel feel free to play with it i have played enough if followed it turns out to be a vague guide well i'll share my trading setup and my risk structure in a coming video that should be sufficient to protect our trading capital and generate consistent profits i don't think we need this tool here uh before we move on to the portfolio section let's clear this notification okay portfolio oops there's no active accounts in this portfolio but why because we did not link our forex account in a minute i'll show one of my old fxbook accounts there you can get a picture of how to maintain a journal but before that if you want to know more about myfxbook.com there's a features page you can access it from here i will link that in the description also i was able to find an interview by one of the creators of myfxbook.com i'll put a link that takes you to that interview i know what you're thinking right now where is the journal is this guy full of crap he builds up a strong story for my facebook but nothing is there same screen no active accounts see here see the chart every dot is a trading activity this is the account i was talking to you about see the portfolio i've been testing a bunch of technical setups some fundamental setups adjusting this and that on a number of forex accounts um well all linked to this one my facebook account but on this forex demo account i can somewhat say that i consistently tested a bunch of tools for over a period of one year but i took long gaps because i was unbelievably undisciplined i have been trading since 2015 had a couple of booms and busts but never on point with the discipline okay let's not deviate now i'll just walk you over this channel october 2019 i was already quite knowledgeable in forex or at least i thought so i was thorough with fundamental analysis learned as much as i can had spent nearly four years before that learning all the technical tools there is i think here i jumped with a big over leveraged trade not sure maybe during a news release lost about six percent uh well don't worry this account is demo just paper money if i tell you how much i lost in real money over the years because of my undisciplined trading you will pass out back to the journal after that six percent loss i i was trading very carefully but it was a very timid approach not good for our trading career the usual emotion here is this we get impatient at one point out of frustration will open a big position only to lose big again and it happened somewhere in june 2020 i came across a youtube channel it is called no nonsense forex that's when i gradually started taking risk management seriously until then i was giving lip service i had some good knowledge about risk management but never tried to stay consistent with it by the way please feel free to check that youtube channel i just mentioned i have attached a link down below i have consumed almost 80 percent of his content most of what i present here is probably taken from there you might think you better go there and learn instead of following my channel i have no issues please do it or you can do both my primary interest is not getting subscribers and trading staying disciplined is astronomically difficult so i've decided to apply the contents of no nonsense forex youtube channel and demonstrate it in real time remember we are adding one more layer of discipline but again back to the journal it stopped around october 2020. what happened next i tried with the trading firm twice to get a position to trade their funds first time i blew it next time i did manage to stay positive by the end of the evaluation period but that wasn't enough i don't say this because i i didn't lie i didn't pass their test but expecting 10 return on the very first trading month isn't practical at all so this is the plan moving forward i will or we will if you want to be a part of all of this we will create results on a relatively small funded account and then we'll showcase the results through our verifiable my facebook account and then we'll go from there let's be clear here i'm not asking for your money n-o-t we're not opening a joint forex account it's not a managed account program either since i'm doing this the best way possible you can replicate but if you're too risk-averse wait till i start showing positive results and then you can follow well after all this being said and done we still run significant risk of not making it in this business maybe now is the time to decide if you really want to tag along well hoping i didn't confuse you inside out did you understand it's not just journal we can say a life story with it so let's just wind this up by talking about some of the other features on this portfolio section on the left side there is a table with an overview showing us the current health of the account it is negative but hey since i use this account as an example i am providing the url of this account i'm also planning to start trading with it this is on top of other things we have planned for the new myfxbook account we just opened so please feel free to track i'll also update in the coming videos okay on the charts you can see performance in percentage or dollar balance also see the profit or loss on individual trades check the drawdown see if it follows a certain pattern etc three dots here you see you can customize the way results are displayed and there's an export feature remember account statement which it's like a report of our trades come down we see um how much we profited or lost today this week this month and this year and advanced stats if you're a nerd in statistics you will find it interesting i guess but i'm not so let's see the trading activity section instead very simple open trades um open orders history every detail of the past rates you can see here and and that's about it and we move to monthly analytics and finally the url now url you won't receive url once we open an account we'll have to give some permissions in the in the settings section well if you are thinking all along the way something is missing yes i still didn't speak clearly about opening our forex account that's exactly what we'll be doing in the next video here's the thing folks i'll be doing what i want to do if you subscribe you're opening for yourself the possibility of making a mark on history give it a shot go subscribe let's do it