Those are very nice profits. But profit alone isn't an indicator. You should also consider the risk you've took to make the profit and think in a risk/reward category. What leverage and starting balance did you use? How many positions did you close? Did you use stop-loss levels?
Ok I checked with the company and they told me the leverage is 200 to 1.
I started with $50,000 and I only ever open 10 positions of 100k.
I used stop loss at the start bit found it much better to jump on the other side if things started to go wrong.
Im also trading near the day high or low and if there seems to be a nice range of about 10 pips I hit it both ways.
Now lets have a look at my last 7 positions which I just opend and closed in about 30 minutes.
Buy 100k@83.456, 83.456, 83.451 83.466 83.451 83.447 83.436
And I closed all positions@83.514 for around $500 profit, and it only took 30 minutes. My used margin was 3,500 and usable margin was around 73,000 how can I go wrong?
The buy rate is now back @ 83.441 so i`m in again.
I plan to open an account with 5,000 and open 10 k positions only 10 at the most.
if I`m on the wrong side it gotta move a hell of a lot of pips to lose everything.
What do you think?
I had a good run on friday hitting both sides of a range about 12 times in a row quite quickly.
Friday night i was on the wrong side and it just kept going up so I jumped in and sell sell sell and it reached the day high and then went down about 70 pips really fast, I couldnt believe it.