mama told me not to come, but what does she know

greetings

I have recently passed one year of actual 12 months, yes 12 straight months of profits. Profits that I have grown and actually xfered some to an actual bank account and atm'd a little and bought things with. I don't know in what part of the world you might reside in, but here in usa, they don't take Milton Bradley from your demo account for tender. Now that I have reached that pinnacle in this forex world, I wish to give back what so called experiences I have learned thus far.

Before I ramble on, for the record I am a recovering sarcastic realist. I will use for your amusement, my school of hard (sledgehammer) knocks.

So let's begin.....

Oh crap, i forgot... the f'n disclaimers. (sarcasm...you thought i was jokin?)

I, me, NOT you experienced these, (this is my story).... So if you happen to have felt some of this pain, then chuckle along. If not, well besides that you are f'n lyin, then wonderful, go back to your EA's. and the lollypop guilds.

I will not reveal names to protect the guilty, and the diamonds in this rough that truly give to our community, and I will misquote constantly, cause I'm stupid and can't remember who said what, but most will know where they come from....


OK, now on with the countdown...... number 32eeeeeeeewwwww

He writes, dear Casey, I have recently saved up my allowance and proud to say I have acquired riches in excess of $300. I've deposited it into my account and plan to turn it into $10000, minus the 60 for gta4. I would like to dedicate to me, money by pink floyd. signed DA.

DA or can I refer to you by your alias dumb ass more appropriately, shot down in flames by ac/dc.....

Capitalization is numero uno in this business. Get it. Got it?

How much do I need you say? Well that figure is up to you. But I will give you a vague answer.

The value of your profit has to mean something significant to you. It's not the pip count, it's the loot. wtf does this jagoff mean

Whatever means you use to acquire profit (scalp,swing,paint dry) the end result from the one trade (yes one trade) needs to have a worth to you that your synapses acknowledge as good money to time ratio.

$10, 20, 100, 500....... hell ya now we're talkin !!!!!!!!!!

Easy does it now...... "son your ego is writing checks your", well you know the rest

$300 deposit churnin that out? You picked the wrong day to quit sniffin glue

With even shitty mm you would be turnin out $1 here .75 there with a smart lot size.
Your question is; Do I want fries with the dollar menu nuggets I might have earned on that single trade ?

I am not about to sermon anyone on the tools of proper mm, lot size, 2% a trade.... blah blah blah

Really??? of course i won't, but "hey dude i opened up this bodacious account in this thing called forex, and yada yada yada bummer man"

Get real people!!!!! get capitalized properly, learn some mm to gain the profit that YOU, only you can rationalize is "worth it". If this value is not significant enough, then you will NEVER take it serious, and you will fail.

Purchasing a calculator and getting compounding for dummies will help pep you up, while you save (horsehockey!!!!! save my arse...I will borrow with no collateral)

Note to DA...... bear stearns and(input your fav --in the crapper institution) is all puckered up

Ok, I hear what you say, kinda... but instead of $300 I raise $1000, I will jack up my leverage and get this accelerated.

makes me think of a tune that hums like "overleverage is just another word for nothing left to lose" or was that freedom??


more later, like ea's lollypops losses and demos (and of course trading)

holy schnikees i almost forgot my free guaranteed signal/trade for the day.

buy eur/usd, or was that sell, or shit was it even eur.... i meant jpy.


later tater

Nick

You're either totally insane or incredibly clever.

Either way, I like your writing style

Summary of initial post, assuming I understand it correctly:
Don't start out undercapitalized.

David

I'm wondering, is it so bad to be undercapitalized? Whats wrong with having a dream of trading skill achievement? Whats wrong with seeing equity curve in percentage basis of growth? Does every trader born rich? Or got every favorable environment around them to be able to develop themself?

ps. As long as we don't put bread and milk money on the table, it should be alright to chase a dream. I'm creating my own destiny.

As long as you don't put bread and milk money on the table, you minimize your risks but you also minimize your gains. So long as you are aware of that and don't overleverage your trades, that should be fine.

Dito, I was merely attempting to summarize the post. I'm not saying that I either agree or disagree with it. At the end of the day, it all comes down to percentages, IMHO. For example, a $20,000 loss is only 2% if you're trading a $1m account.

Undercapitalization is only a problem if you risk too much percentage-wise per trade, in order to achieve a certain level of income. IMHO that's common sense.

Here's a simple way of calculating your capitalization requirement:

Initial capital requirement = $1,000 x stoploss distance x lot size / risk percent per trade

e.g. you intend to place stoploss 50 pips from entry (on average), and want to trade minilot (0.1 lot) positions, risking no more than 2% per trade:

Initial capital required = $1,000 x 50 x 0.1 / 2 = $2,500

(That's based on the assumption that 1 pip equates to $10, which is true for xxxUSD pairs).

Increasing position size increases both return and risk in equal proportion. The only way to increase return without affecting risk is to somehow improve the accuracy of your entries and exits.

David

Denny, you've lost me there mate.

What's all these crazy questions they askin' me
This is the craziest party there could ever be
Don't turn on the lights, 'cause I don't want to see...

Can't you almost feel em sayin it to you ??

They got your stop locked and loaded for destruction..

"you can duuuuuuuu it, cut his f'n head off"

or one of my all time classic phrases

"damn broker slipped me at 8:31, f'r screwed me out of some killer pips at nfp"


wake up and smell the napalm

Peeps, this is a business. Part time, full time.
Treat it like a biz and introduce yourself to your business partner.

You need a ticket to see the show.

Call tixmaster and get guaranteed seating for the venue or get your rear down to the stadium and wheel and deal with a ex crackhead selling crue scalps......

Partnering with reputable broker with xrta pip spreads tacked on OR
Pulling out your visa with a "blink blink blinkety blink" page
"lowest spreads on the planet, 500:1 leverage" we guarantee it

IT, what is it...... IT IT, what is it ??(na na na na it's in your head now)

guarantee ? guarantee what........ oh yeah IT.

"Because they know all they solda ya was a guaranteed piece of shit. That's all it is. Hey, if you want me to take a dump in a box and mark it guaranteed, I will. I got spare time."

Boring alert/Boring alert

Investigate your business partner properly. Take the tour. Play with the tour. Call em, bug them, ask the same questions 10 times, like you do here at FF(yes you jagoff).
Do they respond properly. Do they respond at all? Do they answer their phones all hours, following the sun.
Remember, this is play money we are talkin about now.... This IS monopoly correct?

Now ask yourself, what if the real macoy is in effect. Worrying if they answer their phones now, etc etc is a little late now, right????

All brokers are different in some form, so before you throw your "proper capitalized" monies in the crapper, figure out spreads, buy stops/limits etc etc... for the broker you have decided to partner with.

Then maybe you will have a chance in Satan's hollow.

Of course all stories above are reenactments. If I did any of the stupid things described above, then I would be a 95%, or whatever bs number is the new gurus pulled out of their arses.

Now on the other hand, it could be the mad cow talkin...

coming soon......

finding resource wealth to build your account

later taters

ow crap forgot the responses

3 dogs and the knights rule, and yes sugar in your tea is a givin in the south.

insane??? what you talkin about willis?

nothing wrong with under capitalized... we thank you for your donations...don't shoot yourself in the head and off to the glue factory before the dream evolves

Lost??? never saw one episode... I'm a hells kitchen fan... actually the wife makes me watch one with her...big brother or gordon ramsey? no brainer sarcastic prick, no question.

one extra extra bonus thought......

"plan your trade and trade your plan" should be embedded in your cranium as much as "5 8 8 2 300 EMPIIIIIIIIIRE" yanks get this one, sorry

DC

agree - There is no excuse for not knowing as much as possible about your broker. The time to find out you cant close your trade over the phone is not when your platform is down. Or that the 1 pip guarantee doesn't apply to news events. Or my favorite, WTF about the 30 PIP spread...

Congrats, that's a truly great accomplishment! You have my respect, and HAD my attention.

I think you have a ways to go.


No, it's the % gain that really matters for beginners. If you can't make a small account grow, then you can't make a big account grow. This is an undisputable fact. So why lose MORE instead of losing LESS?

Your opening really had me hoping for something I could use here....