DislikedSeems like I still need a lot more practice. My very first live account started $1,000 2 weeks ago. Discovered this thread when my balance was down to $100. And now it's $21, not enough for even a micro trade. So back to demo it is. I'm really excited to practice more into TMS!Ignored
Open a demo account with $10k and trade with mini-lot size.
Open every trade with 2-mini-lots,
scale out 1-lot at +1R, BE 2nd-lot when market move +1R.
trail market with jumping stop R with final TP set to 5R.
Concentrate on lookin g for A+++ trade setup.
For the purpose to learn in shorter time span, trade multiple pairs - AU, AJ, EU, EJ, GU, EAud, ECad, ENzd, GAud, GNzd, GCad. This should give you enough trade opportunities to practice to spot setups and excute your entry and exits for every setups.
But do not do this in Live account trading at the next stage.
You will see how it will be like make 10% of $10K in the number of trades completed. You will also know how good your trade entries are and how good you are at managing your trade exits.
Treat this as real as possible as though the $10k is real money. When you completed 100 trades, make an evaluation. Then decide to trade a demo account with $100k, then start to use position sizing when you trade this larger account.
What do you think?
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett