Try not to let your head be turned by all the incoming praises....
I have my first turn wrestling with programming the MT4 platform last night. I got it so messed up That I had get rid of the whole and down load a new one.
When I got all fifteen screens back up and running ( a Template helps but only a little) and loaded up some pending trades, I neglected to check the Lot size(!)
Around 4 in the morning I awoke to find myself in danger of a margin call! Naturally I woke up and started closing stuff I was hoping would come back into profit.
I looked at the bottom, saw some things were making good money , and decided that collecting them might help the margin call thing anyway. When I went to close them out, I found I was trading full Lots! closed out the full lots, checked my pending trades, they were all in full lots as well!
I have never traded in full lots before, and knew immediately this had to be stopped before I got killed, and closed out all of my pending trades as fast as I could.
Net result: I lost some 11% of my account. I hadn't realize I had grown it enough to support a full lot bid!
so I looked around then and this morning, and realized at the rate I had been making money, I would make this back in 6, 7 weeks.
I increased my take profit window, I had found out that I made just as much money , and did not have to work so frenetically to do it.
Good thing I woke up. A margin call is a terrible thing. Good and safe now, though.
I follow your posts, and billytt's with interest.
I have my first turn wrestling with programming the MT4 platform last night. I got it so messed up That I had get rid of the whole and down load a new one.
When I got all fifteen screens back up and running ( a Template helps but only a little) and loaded up some pending trades, I neglected to check the Lot size(!)
Around 4 in the morning I awoke to find myself in danger of a margin call! Naturally I woke up and started closing stuff I was hoping would come back into profit.
I looked at the bottom, saw some things were making good money , and decided that collecting them might help the margin call thing anyway. When I went to close them out, I found I was trading full Lots! closed out the full lots, checked my pending trades, they were all in full lots as well!
I have never traded in full lots before, and knew immediately this had to be stopped before I got killed, and closed out all of my pending trades as fast as I could.
Net result: I lost some 11% of my account. I hadn't realize I had grown it enough to support a full lot bid!
so I looked around then and this morning, and realized at the rate I had been making money, I would make this back in 6, 7 weeks.
I increased my take profit window, I had found out that I made just as much money , and did not have to work so frenetically to do it.
Good thing I woke up. A margin call is a terrible thing. Good and safe now, though.
I follow your posts, and billytt's with interest.