APRIL TRADING PLANS
This thread will continue to address any questions about the QAM trading strategy so feel free to ask.
Demo accounts:
The demo account v1a will continue until its expiry whenever that may be and continue to show cycles of trades
The demo account v1b has served its purpose (has expired after a 30 day trial)
They have shown the good, the bad and the ugly trades including account rebuilding techniques and the application of risk for the benefit of learning how to manage an account in a wide variety of situations.
v1b Demo will most likely be deleted very soon as it is no longer required
QAM is risky:
The QAM Strategy method is considered a risky trading strategy especially in the hands of the inexperienced!
Risk management should be applied correctly at all times.
Only a small % of your trading capital should be allocated to trading this method and only money you can afford to lose.
New Trading Journal:
Personally, I prefer to trade only live in the market and a demo is only useful for gaining familiarity with either the MT4 software or testing the functionality of a given strategy.
A new live trading account with a starting balance of US$1000 will be linked to a TE early this coming week.
A show of interest from other like minded traders prepared to link a live TE to a 1K account is most welcome.
If no interest is shown from other traders then please do not expect me to show open cycles of trades (milking my trades with no intention to learn how to trade yourself is uncool and totally unacceptable).
Most likely if no interest is shown then I may delay the release of trades taken or simply hide them from view and only show % gain and a few other statistics.
The purpose of showing my cycles of trades is for interested traders to follow along and attempt to build a small 1K account.
No guarantees are offered or implied and participation is always at the sole discretion of the individual trader.
Live Account:
Trading a live account however, from my perspective has only a few intentions which are:
a) to apply the QAM method,
b) gradually increase the account size over time
c) apply strict risk management techniques
d) operate under a 'reasonable' DD
e) make a positive net% weekly gain
f) share trading ideas with other traders
I have not decided at this stage how much commentary will be provided and certainly minute by minute updates will not be given.
Most likely a few pairs I plan to trade at the start of the trading day may be mentioned, followed by an end of trading day summary of cycles traded.
QAM Ultimate Strategy:
Applies all the techniques listed so far and many many more including a partial automated system (EA + scripts) may also be started at a much later stage in the future but will depend on trader interest.
A lot of practice and a lot of hard work on multiple charts is absolutely required to get this method right otherwise the results may not be to your liking or the best that they can be!
The QAM strategy is also NOT my sole trading method, far from it!
I do trade it with a much larger account however, using appropriate lot progression sizes that provides very 'modest' gains on a regular basis.
This account also represents a very small % of total allocated trading capital so I suggest you also consider your own personal situation.
Lets see where the 1K account will end up!
Good trading,
Masterrmind............
This thread will continue to address any questions about the QAM trading strategy so feel free to ask.
Demo accounts:
The demo account v1a will continue until its expiry whenever that may be and continue to show cycles of trades
The demo account v1b has served its purpose (has expired after a 30 day trial)
They have shown the good, the bad and the ugly trades including account rebuilding techniques and the application of risk for the benefit of learning how to manage an account in a wide variety of situations.
v1b Demo will most likely be deleted very soon as it is no longer required
QAM is risky:
The QAM Strategy method is considered a risky trading strategy especially in the hands of the inexperienced!
Risk management should be applied correctly at all times.
Only a small % of your trading capital should be allocated to trading this method and only money you can afford to lose.
New Trading Journal:
Personally, I prefer to trade only live in the market and a demo is only useful for gaining familiarity with either the MT4 software or testing the functionality of a given strategy.
A new live trading account with a starting balance of US$1000 will be linked to a TE early this coming week.
A show of interest from other like minded traders prepared to link a live TE to a 1K account is most welcome.
If no interest is shown from other traders then please do not expect me to show open cycles of trades (milking my trades with no intention to learn how to trade yourself is uncool and totally unacceptable).
Most likely if no interest is shown then I may delay the release of trades taken or simply hide them from view and only show % gain and a few other statistics.
The purpose of showing my cycles of trades is for interested traders to follow along and attempt to build a small 1K account.
No guarantees are offered or implied and participation is always at the sole discretion of the individual trader.
Live Account:
Trading a live account however, from my perspective has only a few intentions which are:
a) to apply the QAM method,
b) gradually increase the account size over time
c) apply strict risk management techniques
d) operate under a 'reasonable' DD
e) make a positive net% weekly gain
f) share trading ideas with other traders
I have not decided at this stage how much commentary will be provided and certainly minute by minute updates will not be given.
Most likely a few pairs I plan to trade at the start of the trading day may be mentioned, followed by an end of trading day summary of cycles traded.
QAM Ultimate Strategy:
Applies all the techniques listed so far and many many more including a partial automated system (EA + scripts) may also be started at a much later stage in the future but will depend on trader interest.
A lot of practice and a lot of hard work on multiple charts is absolutely required to get this method right otherwise the results may not be to your liking or the best that they can be!
The QAM strategy is also NOT my sole trading method, far from it!
I do trade it with a much larger account however, using appropriate lot progression sizes that provides very 'modest' gains on a regular basis.
This account also represents a very small % of total allocated trading capital so I suggest you also consider your own personal situation.
Lets see where the 1K account will end up!
Good trading,
Masterrmind............
Master your Mind then Master your Trades