5 trades on a demo account isn't exactly "walking the walk".
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It is an instance of disciplined trading.
The rule I have set for myself is that I can keep at any time only 2 trades OPEN but I can do whatever turnover i am comfortable with. It could be scalping and even 100 trades but only after opening two trades and closing them and repeating the cyle. At any point of time only two trades are allowed to remain open.
Drawdown allowed is 280 pips and Equity Loss Stop is 300 pips.
Equity Loss stop comes into play if I use maximum of 2 symbols. If I use only one then there will be single stoploss of 300 pips.l
{quote} It is an instance of disciplined trading. The rule I have set for myself is that I can keep at any time only 2 trades OPEN but I can do whatever turnover i am comfortable with. It could be scalping and even 100 trades but only after opening two trades and closing them and repeating the cyle. At any point of time only two trades are allowed to remain open. Drawdown allowed is 280 pips and Equity Loss Stop is 300 pips. Equity Loss stop comes into play if I use maximum of 2 symbols. If I use only one then there will be single stoploss of 300...
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is it smart to calculate all in pips? pipvalue can be extrem different, and by different lotsizes it will be very extrem different.
or do you trade always same lotsize and same currencies with near same pip value?
is it not better to calculate in money or percent of equity? pips normally are not counted by "smart" people (because says nothing), like noone is counting balance, only equity.
{quote} It is an instance of disciplined trading. The rule I have set for myself is that I can keep at any time only 2 trades OPEN but I can do whatever turnover i am comfortable with. It could be scalping and even 100 trades but only after opening two trades and closing them and repeating the cyle. At any point of time only two trades are allowed to remain open. Drawdown allowed is 280 pips and Equity Loss Stop is 300 pips. Equity Loss stop comes into play if I use maximum of 2 symbols. If I use only one then there will be single stoploss of 300...
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Its still not proving much weather your a disciplined trader or not, also calculating your stop loss and drawdown in pips indicates that you don't walk to the walk.
Only keeping 2 trades open doesn't prove discipline it can actually lower your profitability ( e.g. missing out on profitable set ups because you already have 2 trades open, then the next setup that occurs has a higher chance of becoming a loss).
I have no real understanding of the values you gave for stop loss/drawdown because you gave them in pips, unless i know your lot size and many other factors i wouldn't be able to determine and give my opinion on weather your Stop loss ect are sustainable.
Walking the walk to me and i believe many other traders would mean proving constant profitability and sustainability over a weekly, monthly and yearly basis and most important of all...on a live account. To me 5 trades on a demo account doesn't prove anything (only time will tell).
Good luck to you anyway.
