Wasabiboys MT4Stats Good I think, tell me your thoughts please

http://wasabiboy.mt4stats.com

This is my 5th demo accounts, all others expired, hate it when that happens.

1st Demo IBFX
Anyhow 18months ago I started with IBFX a 5k demo account and absolutley NO experience (still have little). I blow that demo in a week taking single lots on a 5k account lol. 1st lesson never expose
more than 5% of equity

2nd Demo IBFX 50k account
Took this to 200k over 4 months, looked to easy so started again from 0

3rd Demo IBFX 50k
You wont beleive me but took this to 1.3mil..true

4th Demo MIG (I found IBFX spreads to variable) 50k
Early this year was going well then!!! demo server problems and lost my 300k account (oh well it was demo)

5th account this one
http://wasabiboy.mt4stats.com
2 months, old going strong.

If anyone reads this, I would be really keen on hearing your thoughts. Whislt my system has been successful on demo's do you think my risk factor is to exposed? Any thoughts on MIG?

Appreciate any feedback

hi Wasa,

Since you asked for my contribution then here it is, i think you are doing pretty good and building up confidence with each trade you make. But on the reality side, except you are super-rich, you might not be able to open a live account this big as represented on the demo (i guess you are planning to go live soon). What i would advise however is to trade on the demo the number of lots what you are planning to trade when you go live. This way there would be a smooth transition and it wouldn''t feel strange to you when you are not making the amount of money you were used to while you were trading your demo.

IMO, what counts is the amount of pips you make and the maximum drawdown your account suffers in the process that determines how well you are doing and how much you should be willing to use in opening your account in order to expect a certain profit at the end of a period in time.

But you seem pretty good to start something on the 'live' from what i see and whenever you feel like tweaking your system, Please, please and please, try it out on the demo first for some time to see if it works before incoporating it into your live trading.

Cheers mate.

Hi Ajantala

Thanks for looking and I appreciate your advice. The last 4 Demo's have been with 50k so this is what I will use as it's the most natural and offers a meaningful reward with go forward.

Downdraws will be minimum until EQ is over 200k then lss than 5% per month

Clearly I am a novice, I don't use TA or FA. I look for probable prodictability in the line charts with 3 time windows and 90 of my trades are closed with 24hrs. The News scares me as I never how to get the news and I've seen it spiek the charts!! (do you have a source).

I intend to us MT4STATS with my live account too, this way I also put to caution into my trades as I know 12 people that are following my DEMO trades on it lol. But it will make me more accountable for my actions.

My 2 cents of self promotion.

cheers

Thought I would start I journal of my plung into forex

I am awaiting my live account to open with MIG, they seem like the best I have found so far, and I am cautiously excited about a live account. After playing with demo's for 18months it time to play for keeps.

What system humm. Well I don't have one!! or at least a documented one, I am a basic chart and history watcher and short term trend buyer, not I go long 95% of the time. From my limited experience there seems to be too many factors to calculated possbile direction other than BIG news, which can be played to advantage. So if your laughing at me then tell me my charts are wrong! http://wasabiboy.mt4stats.com they are a little shaky but apart from my first to (what all this about) demos, I have very very successful demo's 50k too 1.3 mil was best in 3 months.

Against all the advice I have had I am likely to start with a 50kUS account as this is the base equity I have always played with on the demo accounts.

Why do I go long, I guess it's the one diirection that appeals, and it sets my thinking looking for upward trends rather than considering shorts.

Monday morning here in NZ, should have alive account by end of week, a quick funds transfer so perhaps this time next week it may be all so real!!