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3 week demo account leading up to live account.

  • #1
  • First Post: Feb 13, 2009 3:10pm Feb 13, 2009 3:10pm
my strategy is very very simple all I do is take a quick look at a 15 min chart of any currency with good spreads usually being EURUSD and then I take a look at the order and whats been going on in the past 10-15 minutes, and I see what the high has been in that 15 min and the low and I wait for it to reach either low or high and so if it reaches the high point than I will sell and if it reaches the low point I will buy. But there is always a chance that it could continue to drop a lot once its reached that low point so I make sure I check the long term charts before to make sure that if it drops for say the next 3 hours I will still know with much certainty that it will eventually return to a profit so while I wait out on that trade I will continue to make new ones on the same currency with my strategy of looking at the past 15 minutes. I also use the take profit option now to stop me from taking my profits to early.

this isn't very good explaining so if you have any questions just reply

My demo account is a $500 account and my trades are from .15 to .20 in lot size.

day 1- 26 trades 25 winners profit of $83 for this day I used 0.2 as my lot size so I earned about 41.5 pips.

day 2- 41 trades 41 winners profit of $219.72 I was using 0.15 for my lot size so I earned about 146.5 pips.

day 3- 35 trades 35 winners profit of $254.37 I was using 0.15 for my lot size so I earned about 169.5 pips.
  • #2
  • Feb 14, 2009 5:49am Feb 14, 2009 5:49am
Quoting dave08666
this isn't very good explaining so if you have any questions just reply

My demo account is a $500 account and my trades are from .15 to .20 in lot size.

day 1- 26 trades 25 winners profit of $83 for this day I used 0.2 as my lot size so I earned about 41.5 pips.

day 2- 41 trades 41 winners profit of $219.72 I was using 0.15 for my lot size so I earned about 146.5 pips.

day 3- 35 trades 35 winners profit of $254.37 I was using 0.15 for my lot size so I earned about 169.5 pips.
So your average profit per trade is between 1,5 and 4 pips per trade?

Kristjan
  • #3
  • Feb 14, 2009 11:11am Feb 14, 2009 11:11am
yes and thats all Im aiming for because I havent had to many losing trades by doing this(1). Just recently I started using the take profit option so now my average pip size will be from 3-6.

I dont see why so many people go for 5-6 large size trades per day when you can get that same amount of money, depending on if you win in the first place but with a lot less risk.


Just try this on a demo account or even on a real account for a few days, and then write in here and tell me how it goes, just stick to small profits in large quanities.
  • #4
  • Feb 14, 2009 11:39am Feb 14, 2009 11:39am
Look Nice!

What R U R Stop?

Can U Post A Chart?
  • #5
  • Feb 14, 2009 11:45am Feb 14, 2009 11:45am
I dont use stops and Im unsure of how to post a chart
  • #6
  • Feb 14, 2009 1:15pm Feb 14, 2009 1:15pm
Quoting dave08666
my strategy is very very simple all I do is take a quick look at a 15 min chart of any currency with good spreads usually being EURUSD and then I take a look at the order and whats been going on in the past 10-15 minutes, and I see what the high has been in that 15 min and the low and I wait for it to reach either low or high and so if it reaches the high point than I will sell and if it reaches the low point I will buy. But there is always a chance that it could continue to drop a lot once its reached that low point so I make sure I check the long...

ON DAY ONE U HAVE 25 FROM 26

U SAY U DONT HAVE STOPLOSE HOW DID U GET OUT OF THISE LOSING TRADE?
  • #7
  • Feb 14, 2009 1:52pm Feb 14, 2009 1:52pm
can you define stop loss for me because I just ended that one because it was down like $40 at one point so once it got back to -$4.00 I just closed it.
  • #8
  • Feb 14, 2009 2:10pm Feb 14, 2009 2:10pm
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 18 KB




Its tough to see this chart but heres a strategy that seems to work when a currency is moving up and down a lot in a small range so I put a buy in at the top and then if it drops I will put a sell in it and this way if it does drop a lot I will just take the profit from the sell and be down a lot on the buy where I feel very comfortable that the currency will eventually come back up. but if the currency stays inbetween the both of them then I will make a lot of small trades.

I have made around $40 on small trades inbetween this example.
  • #9
  • Feb 14, 2009 2:35pm Feb 14, 2009 2:35pm
I Will Test When The Market Open

I Will Put The Stop On The Low/hith

Take The Buy /sell Immidetly When The Bar Close If The Bar Go Red Iwill Sell If Thr Bar Grenn Buy

The Target

1/2 From The Size Bar

Which Give Us Risk/reword 1/2

Thise What Pop Up To My Maind Now

Kip Test It The Way U Do

And WE Will Mach R Resolt
Attached Image (click to enlarge)
Click to Enlarge Name: 15m.gif Size: 27 KB
  • #10
  • Feb 14, 2009 2:44pm Feb 14, 2009 2:44pm
ok I accept your challenge.(lol)
  • #11
  • Feb 16, 2009 9:16pm Feb 16, 2009 9:16pm
Any update? or did you get caught by huge loss?. Still I am in a position that operating without SL is dangerous.
  • #12
  • Edited 12:34pm Feb 17, 2009 11:45am | Edited 12:34pm
day 4- I got lazy to day and I only made 5 trades and 5 winners for a profit of $43, but you are right I have 2 big losses right now but I feel confident that they will bounce back up and these losses are there because I didnt know when the market ended on friday so I was stuck on a trade and then when I saw the market start up again it went from down a few pips to being down about 100, and my second current loss is there because I stop watching my trade and it made a sudden drop of 50 pips when I got back, because if I was watching it drop like that I wouldve thrown in a sell to balance out the damage.

Now im only going to trade from monday to thursday.

for the stop loss its really useless unless your not watching your trades because if your in the middle of a buy and you see it begin to drop just put in a sell it is the same as a stop loss but you can make some more profit with it. and if it stays inbetween I usually just start making small trades where I make a few bucks on each one.
  • #13
  • Feb 17, 2009 10:55pm Feb 17, 2009 10:55pm
day 5- I just dont have enough time on my hands to trade right now but I did make 2 small trades today both winners for a profit of $7.50, and Im still waiting on the 2 big losses to bounce back they have come back up a bit, but Im not worried about these losses in the future because they are there because of stupid mistakes that I will never make again.

the total balance right now without the 2 losses in progress is $627 in profit from a $500 account so that's a balance of $1127.

If I still have this success live will people actually care?
  • #14
  • Feb 18, 2009 12:08am Feb 18, 2009 12:08am
Quoting dave08666
day 5- I just dont have enough time on my hands to trade right now but I did make 2 small trades today both winners for a profit of $7.50, and Im still waiting on the 2 big losses to bounce back they have come back up a bit, but Im not worried about these losses in the future because they are there because of stupid mistakes that I will never make again.

the total balance right now without the 2 losses in progress is $627 in profit from a $500 account so that's a balance of $1127.

If I still have this success live will people actually care?
Dave you have missunderstood it it is not mater of care it is all about the ideas and what is more important it is trackrecord fo you. Keep up good job - every trader finaly finds his own bath how to trade.

Kristjan
  • #15
  • Feb 19, 2009 4:26pm Feb 19, 2009 4:26pm
the 2 trades that were big losses caused my demo account to close but these trades were there not because of what I was doing to make a lot of winning trades they were there because I didn't know when the market opened and closed on weekends and the other one happened because I stopped watching the trade that I had up.

I'm pretty confident that I could make some money on a live account as long as I pay attention to my trades and I only trade from Monday to Thursday, so that's what I'm going to try and so on about March the 12th I will come back to show my results.

One more question what kind of information to I have to supply for the broker? Ive been getting really scared about sharing info over the internet ever since a couple weeks ago my cousin who works for a news team where I live had her whole bank account flushed out when she bought something on ebay and a spammer sent her a fake email where it looked like it was for paying for her item, and so they got all of her info. Then when she went to the bank that the email looked like they said it looked so similar to what they wouldve sent out that they wouldnt have been able to tell the difference but they couldnt fund her her money. Wow I just went off on a rant.
  • #16
  • Edited 5:03pm Apr 15, 2009 11:22am | Edited 5:03pm
so you pretty much trade channels on short timeframe?

you must use a stop loss for each trade, otherwise it can always break out of the channel and when it does it can be very rapid - with no s/l in place guaranteed to leave you with not happy losses.

Although you could hedge with that position and play the breakout, cut the loser quickly though.
  • #17
  • Apr 25, 2009 3:54pm Apr 25, 2009 3:54pm
Dave,

I'd also recommend at least a "catastrophic" stoploss, like 50 or 60 pips (for a scalper), I watched a 65 pip plunge occur in less than 30 seconds last week, how fast are you at closing an order, and how fast is your broker/platform?

Don't forget it's easy to mistake luck for skill when you first start out, I had some really phenomenal results at first too.

I would stick with obliterating demo accounts for a while longer ( I'm on my 7th or 8th right now). Demonstrate profitability over a series of months, and you might have something worth putting real money into (also, your trading style may change when real money is involved, making your system irrelevant)

Not meaning to get down on you, and if it's not money you're gonna miss, then go for it anyway, think of it as tuition.

Just be careful, the sheer number of brokers out there should tell you how easy it is to lose this game.
  • #18
  • Apr 25, 2009 9:50pm Apr 25, 2009 9:50pm
stupid math....

Dave's last post was Feb 19th, stating he would return with results on March 12th, and today is April 25th.

Why did I bother posting.
  • #19
  • Nov 10, 2013 3:32am Nov 10, 2013 3:32am
Anyone reading this, please observe that dave was trying to trade individual 15M candles without any indicators. Advise? It takes three 5M candles to make one 15M candle. It takes fifteen 1M candles to make one 15M candle. With so much available data, why trade so recklessly?
You cannot be extraordinary by being normal
  • #20
  • Dec 30, 2013 3:38pm Dec 30, 2013 3:38pm
When you say "can you define stop loss for me because I just ended that one because it was down like $40 at one point so once it got back to -$4.00 I just closed it." gives us an extremely good look into your trading habits.

This is a catastrophic way to trade. You absolutely need clean, clear, and cut rules of when to get in, when to get out, and why you're placing these levels at these specific places. You should know how much your risking before you ever even enter into the trade. You should know how much profit your "expecting" to make before entering into the trade.
You have no way to provide accurate detail on a strategy. When you go to back test a system such as this to prove it's validity in the long term are you going to look back on a chart and say "hmm I would have gotten in here, and umm at this point I would have been -50 so that's frightening so I would have waited to hit this level here at -40 and probably, maybe, I think would have closed out." You can see how inaccurate this way of trading can be and how you're fast tracking a way to a burnt account.

I would urge you to reconsider your method and begin developing clear rules for entry and exits that can be back tested and proven to make money for you in the long term.
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