JCL's Forex

Realistic Goals for Forex

Jordan — Tue, 03 Nov 2009 08:03:49 -0700

What are realistic goals for forex? How about 9,000%? How do you reach ambitious forex returns?

First you must understand how money grows through compound interest.

Compound interest has been called the eighth wonder of the world. And with good reason. It magically turns a little bit of money, invested wisely, into a whole lot of cash. Even Albert Einstein -- a bit of a smarty pants -- is said to have called it one of the greatest mathematical concepts of our time.

Here's the gist: When you save or invest, your money earns interest or appreciates. The next year, you earn interest on your original money and the interest from the first year. In the third year, you earn interest on your original money and the interest from the first two years. And so on. It's like a snowball -- roll it down a snowy hill and it'll build on itself to get bigger and bigger. Before you know it ... avalanche!

The above from Kiplinger's 'Behold the Miracle of Compounding' article explains how saving a little money now can turn into a small fortune later. Consistently is the key, it works even with small sums of money turning them into large sums of money quickly. We reach our forex goals with a Forex Savings Account.

A Forex Savings Account

Careful planning now pays dividends later. You know how people get themselves into large credit debt rather quickly is because they are making frequent withdrawals at a high interest rate and it compounds together and over several years becomes a staggering figure. Reverse that action and make frequent deposits while earning at a high interest rate and you will be able to save a large nest egg account rather quickly.

Starting with $5,000

Using the compound interest calculator from Money Chimp we can see how starting with 5K we can grow it into $153.430.38 in just 10 years.

Do you know if you started with 10K that would be $207,256.29 due to compounding interest.

Realistic Forex Returns

Legendary investor, Paul Tudor Jones and his Tudor Investment Corporation has had a total return of 9,038% over the last twenty three years. Tudor managed $17.7 billion in 2007 so we have to take the size he is trading into account and advantages to use not to be having to try and move in and out of billion dollar positions. He is pretty legendary alright, Stanley Drukermiller avoided losses and made good profit from the 87 crash through the last minute advice from Tudor Jones. According to Drukermiller himself in Jack D. Schwager's classic book on traders the New Market Wizards. A must read.

Tudor's excellent track record and legendary status,

Ambitious Forex Goals

We are on path to beat that return and most likely since we are able to trade in the forex market and not have to worry about managing entering and exiting multimillion dollar positions surpass that tremendous forex return. After 23 years our goal is at least $3,583,079.45.

Continued Compounding Interest and Deposits:

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Forex Trading Report - October 2009

Jordan — Mon, 02 Nov 2009 08:21:24 -0700

For the month of October we had a total return of -3,198 pips with a loss of -2,013 pips for the month on the 4 hour time frame and a loss of -1,185 pips on the 8 hour time frame.

Almost all pairs coming off their trends this month remaining oversold/bought against the trend for extended periods of time.

Total Number of Pips for October: -3.198 pips

Anyone who just started with us over the last few weeks and made it through that period (which does not get much tougher with almost all pairs reversing their trends) is going to be much more mentally tough now. Big step on the path to becoming a trader.

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How to Make Money in Forex Without Trading Forex

Jordan — Sat, 31 Oct 2009 16:00:13 -0600

Tony has never blogged before, ever, not a single post. Tony considers himself internet challenged on the world wide web, to have poor writing skills and horrible spelling.

Safe to say if you have any interest in earning money as an affiliate than you have some experience blogging even if you are like myself any don't know much about html and php and creating your first mysql database was a BIG DEAL!

Never Blogged Before to 2K Monthly Residual!!

This thread will help serve as a working plan for Tony with my help.

I setup Tony's blog with the killer SEO Thesis theme for Wordpress. Along with many other professional bloggers Matt Cutts from Google is using the Thesis Theme on his blog and he has praised it for being a fantastic choice for an SEO-friendly blog platform.

Here is a quick look at the blog as it begins,

The blog is using Dream Host for hosting as it is the easiest and best web hosting company I have worked with allowing one quick installs for wordpress blogs, unlimited databases, unique IP addresses and excellent support knowledge base.

The Project

The purpose of this project is to get Tony earning $2,000 a month with residual income so that he can contribute regular deposits into his trading account. Between the regular monthly deposits into his trading account and his forex trading profits compounding together Tony can save a considerable nest egg over the next several years realizing his forex goals.

With a project goal just six months into the future time is a wasting.

Plan of Attack

Six months of hard work can now can pay dividends for some time to come in the future.

Tony finally learned to trade with JCL's Forex after long continuous search that was trial and error...and lots of failures. The norm for most anybody interested in the financial markets and trading. What better service to promote than one he is using and benefiting from.

Main Source of Blog Income

He will be using the forex affiliate program of the group he is actively utilizing and a member.

Tony needs 100 active sign ups to generate a $2,000 monthly residual.

To begin, I requested Tony create a two page e-book introducing himself and how he came to finally make money in forex. This will give any new readers time consider joining the group right away upon first contact as well as be the main source of opt in email listing building.

The e-book will be Tony's main source of sales and then a few months the list will also become one of the main income generators for the site.

Building Site Traffic

Tony started quest blog posting last week and will continue to post an article one a week on a forex related website. He will also begin establishing relationships with other bloggers looking to write quest articles of quality content in exchange for a link back to his forex blog which will begin helping him gain search engine ranking positions as well immediate direct traffic.

The initial sales have come from this method, as you can see in the first week Tony brought in 64 unique visitors and converted two sales.

This journal will be continued once the e-book is created and the first blog post is live.

Tony's Current TO DO List

Continue one guest post a week and seek to find anther website to quest post on.
Create the free e-book pdf which will serve has a high conversion sales source and email campain list builder.

Question - Alerts

Jordan — Mon, 19 Oct 2009 12:42:47 -0600

When to Place an Order Immediately

When we receive a Zero Line Cross (ZLC) alert we enter the trade immediately with a market order.

EURJPY H4 : LONG Zero Line Cross
Check your Metatrader, a LONG Zero Line Cross entry signal occurred at 20:00 GMT. Exit all short Conquer H4 positions for this pair now.

See here under the Buy Entry and Sell Entry headings for further details.

When to Place a Limit Order

When we receive a Drop In (DI) alert we know there is not criteria met for entry and place a limit order.

EURUSD H4 : LONG Drop In Criteria
Check your Metatrader, LONG Drop In Criteria is now met at 20:00 GMT. Begin setting your entry limit orders now.

See here under the Once Criteria is Met heading for the further details.

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What is the hardest part of the system to trade?

Jordan — Sun, 18 Oct 2009 13:23:23 -0600

jordan: all the time. every time a trend changes and the worse is with the zero line cross happens and then fails chopping back and forth on the zero line. What you mentioned with the Stoch is the 2nd hardest part of the system to trade. When the stoch remains oversold/bought while stopping out DI trades and working to a ZLC
tanmay: i completely agree after yesterday
ordan: the hardest part is in a narrow trading range when a ZLC whip saws back and forth across the zero line
tanmay: and our edge against this is our money management, correct?
jordan: they both happen (the first at the end of each trend and the 2nd on tight ranges)
tanmay: true, and we never know which ZLC will stick
jordan: exactly tanmay, what I was going to say next. BUT because of our money management we are able withstand it and because of our risk to reward ratios we make back the loss quickly on the next couple of trades that reach their target
tanmay: so we have to take each one
greg: totally Tanmay – I have learned that lesson the hard way
tanmay: I am so happy that I am getting to experience this part first up, because I know if I survive this patch, I will make pips… looks like this system will test me or my own beliefs and make me a way better trader
greg: biggest lesson I have learned is, just take every trade you can and leave things running till they tp or sl. No other input necessary (other than moving stops to B/E). It really is as simple as that.
jordan: i would love to find a filter that let us know when not to take certain trades (losing ones!) that is the holy grail. I have not found the holy grail but the best filter I have found is to take each and every signal because I never know which is going to be the ones that go one to reach targets
greg: I have a tendency to over think or overcomplicated things. Took me a while to realize simpler is better
tanmay: i agree greg.. simple works better
tanmay: in the longer run

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7000 Pips! How are Pips Calculated?

Jordan — Sun, 18 Oct 2009 13:23:08 -0600

The way to pips are calculated on the monthly performance is 1 pip is equal to our lowest position size and consists of all trades that either reached the stop loss or target price during the month closing the trade out.

When adding up the total pips since order 2 is three times the size of order 1 and order 3 is 1.5 times the size of order 1.

Order 1 is 1 pip = 1 pip
Order 2 is 1 pip = 3 pips
Order 3 is 1 pip = 1.5 pips

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Forex Trading Report - September 2009

Jordan — Thu, 01 Oct 2009 12:59:31 -0600

For the month of September we had a total return of 7,022 pips with a gain of 2,225 pips for the month on the 4 hour time frame and a gain of 4,797 pips on the 8 hour time frame.

As expected the market slowly coming to back life during the month of September with the YEN strength leading the way along with the GBP weakness helping to attribute to some nice moves

Total Number of Pips for September: 7,022 pips

As always we will trade what is happening rather than what we believe. No matter what the market direction we are positioned to profit by always putting ourselves in trades in the direction of the trend. The 8 hour time frame is proving itself able to withstand narrow ranges and choppy markets. Good things ahead.

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The Market Starting to Come to Life

Jordan — Wed, 30 Sep 2009 09:43:50 -0600

Tomorrow September's report will be released as the month comes to a completion today. Much better than August in part due to the YEN strength and the GBP weakness this month. We are trend traders so when the market moves we excel. August was actually one of the toughest months as the market was stuck in a tight range, even so we were able to play good defense for an offensive minded bunch.

I just began the performance reports last month:

You can also subscribe to the blog by email or rss feed in order to receive the forex trading performance reports monthly going forward.

Conquer Adjustment (Sept 2009)

Jordan — Wed, 02 Sep 2009 17:16:33 -0600

The last Conquer adjustment in June has proven the system now to be able to withstand ranging market conditions (the toughest for a trend trading system) in almost brilliant fashion actually playing some great defense when markets conditions get choppy and while in a tight price range. When you have an aggressive minded forex system that is also playing good defense, watch out! Low account draw downs with high returns are the elusive holy grail of trading.

We have a new system adjustment today on the Drop In trade that improves the overall profit potential of the trade. The risk to reward ratio on the trade is improved to be even greater as well as the position sizes of both orders 2 & 3 are adjusted allowing for even bigger returns going forward. Also on the ZLC trade the position sizes of both orders 2 & 3 were also adjusted.

You can view the adjustments in the Methods of Trading inside the member area under Conquer. Greg has also updated the spreadsheet to version 1.3 to reflect the changes. You can download a copy in the member area on the right side of the page under spreadsheets.

Changes take effect immediately on all new entries.

mark: Plan the trade, and trade the plan! And obviously, with this group, I'm preaching to the choir

jordan: funny and true. if you could find a bunch of traders trading a plan (as everyone knows they should!) it is here

mark: You guys are a well-oiled machine!

greg: things are much simpler here. Trade any day regardless of news, even late on a Friday evening if a 4h or 8h trade comes up. No worries. The simpler the better

mark: yes, much more better the way you guys do it!

greg: it's all thanks to Jordan, we only do as we're told!

mark: I'm learning that!

vets: "we trade what we see"--Jordan

bruno: gracias amigo

mark: Certain one do definitely stick out routinely at turning points, whatever time frame you're looking at.

greg: I do think candles tell a good story about what the bulls and bears are doing at any given time but I like the safety net of a system such as this

mark: I'm thinking the same thing greg. I like the idea of just becoming a manager of solid rules which lead to profitability

mark: Being done with emotions, anxieties of bar-to-bar trading

mark: Money management, as Jordan says.... Following the rules, not risking more than you should, and building the account slowly

greg: one of the best things of conquer is being able to have a life outside trading - you only really need to be at the screen several times a day

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Forex Trading Report - August 2009

Jordan — Tue, 01 Sep 2009 13:17:23 -0600

In order to help the newer traders get caught up quicker to the group I began showing the time and date of each trade taken and then also including the positions once they reach either their target or stop loss in a closed positions table. This has also made it easy to include a detailed monthly performance report which I will now include each month going forward.

The way to pips are calculated is 1 pip is equal to our lowest position size and consists of all trades that either reached the stop loss or target price during the month closing the trade out. For the month of August we had a total return of 3,096 pips with a loss of -60 pips for the month on the 4 hour time frame and a gain of 3,156 pips on the 8 hour time frame.

The 8 hour out performing the 4 hour is reflective of the range bound & choppy market we have been experiencing all summer. The higher time frame is able to withstand the market chop better.

Total Number of Pips for August: 3,096 pips

Sometime this fall during the coming months of September through November we are expecting more volatility and possibly a market crash as an epic banking crisis is looming that will help contribute to taken out the 2008 March lows in the US equity markets leading to big account gains. I am looking for the current market rally to still hold and possible make another leg up during the month of September. As always we will trade what is happening rather than what we believe.

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