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  • #451,341
  • May 28, 2011 9:46pm May 28, 2011 9:46pm
Quoting the redlion
true % wise, larger the account larger the percentage, but what im talking about is method of trading, micro, mini, or regular. one must not care the $ at risk, one must care of implementing our plans and following the market.

what matters at the end of the day is the equity as you said. so i got confused about your statement that 100 account was not useful.
I still think a 100 dollar account is useless and dosent benefit anyone in anyone.. there diff reasons people open these micro lots..

One is when someone actually lives in a place where 100 dollars means a lot and can buy you a lot of things.. like zimbabwe and places like that.. for them a 100 dollar profit is a handsome one.. ya okay they can trade mini lots and have all the patience in their life because life is slow there..

Two is when people open it to test their their analysis and trading skills.. this is where i say a mini account is no good, coz you cannot test your trading skills unless u test your emotions, and with mere 100 dollars at stake their r no emotions involved and all the results you interpret are misleading because your testing platform is wrong, i would rather test my trading skills on a standard demo account with 'standard lots' (i dont care its 5000 demo or 10 k demo) rather than mini accounts...

The problem with number two is they say well its not my money, no real money so i would be willing to loose it as quickly as i would be willing to loose my 100 bucks in mini account, the solution to this is monetize 10% of it by giving that 10% to someone else and giving them straight instructions what to do with it depending your trading results in that demo..

Do not open a 1000 dollar account and trade it to test your skills, open a 10/5k demo, give 1k to someone close to you, and than see how you do in 10/5k account and reward/punish yourself accordingly..

Learning to trade from 100 dollar account is flawed because of absence of 'value of money' ..
  • #451,342
  • May 28, 2011 9:49pm May 28, 2011 9:49pm
Quoting the redlion
i disagree with you? 10000 dollar account to trade properly?
if you dont know how to trade you simply dont know

the size of the account is of little relevance. it is the way you read the markets that matter. 10000 is only good to have more wiggle room for resources available, however if youre trading 100 account and your $/pip is proportional if you grow it, you grow it....


unless youre gambling. trading is trading position managing is the same. the number doesnt matter.

trading 5000 dollar account and a 5000000 should be the same MO. its the mehodology that counts
SECOND THAT!
  • #451,343
  • May 28, 2011 9:51pm May 28, 2011 9:51pm
Quoting Purple
I still think a 100 dollar account is useless and dosent benefit anyone in anyone.. there diff reasons people open these micro lots..

One is when someone actually lives in a place where 100 dollars means a lot and can buy you a lot of things.. like zimbabwe and places like that.. for them a 100 dollar profit is a handsome one.. ya okay they can trade mini lots and have all the patience in their life because life is slow there..

Two is when people open it to test their their analysis and trading skills.. this is where i say a mini account...
interesting concept.....but if your trading method, is on flexible market recognition and form, and you dont really care about the lot or account size, your M.O is to protect the book and make it grow.

i supose it is different for each, but if im teaching a little brother or son to trade, i will open a micro or mini and same, safety protocols, same methodology, same concept will apply. in my opinion.

i think it depends on the individual trader.

but if i cant grow a 1000 account, if you hand me 100000, will it be easier or will i just blow it none the less?
AVT INVENIAM VIAM AVT FACIAM
  • #451,344
  • May 28, 2011 9:54pm May 28, 2011 9:54pm
with micro lots you can let your floating p/l jump about and not worry about your broker closing your positions due to margin call

I would start small and get the feel of the trading psychology when it comes to live trading, greed/hope is gonna kill.

It's GOOD experience!
  • #451,345
  • May 28, 2011 10:01pm May 28, 2011 10:01pm
Quoting the redlion

but if i cant grow a 1000 account, if you hand me 100000, will it be easier or will i just blow it none the less?
You know what if you grow any account less than 5k equity to a 100,000, noone will actually wanna give you 100,000. They will all say, hey take my 5k and grow it to 100,000 too. In order to bag a 100,000 account, you need to show them return on a 100,000 dollar account.
  • #451,346
  • May 28, 2011 10:01pm May 28, 2011 10:01pm
Quoting Venice
Awesome. If you are using a demo account, try and get your head into it that you are actually risking real cash.

Remember every trade should be a calculated risk. I am risking x pips for an additional y pips.
Fake cash can never replace real cash, no matter how psyched you are. It's really impossible
  • #451,347
  • May 28, 2011 10:47pm May 28, 2011 10:47pm
Morning to all .

To me trading micro 100$ or standard big one without any differences , it all depends upon the strategy & money management only . yes 100$ in a stardard or mini are not any better than in micro as micro can consider like a big account as of standard counting in cents .

It should be the % of money at risk at any given time or any set up or a single trade with relative % actually gained .
say one has 100$ in an account & traded 10 scalpings with only 2% at risk for each trade for target 4% profit nett and has got a 50% success rate , then 5 loss trades will cost him 10$ & rest 5 trades profit 20$ & nett grow 10% flat. but may not as simple , say he lost all early 5 trades =10% , remaining 90$ in hand .Now if he to maintain the same sl as before he to risk more % 2.2 for same % gain though he can adjust at fixed 2% sl again with an extra chalenge of further loosing or change lots , if available to remain all constant, here comes difficulty in smaller accounts specially stardard or may be mini , may not so in micro or bigger ones .

so as per strategy let him play at 1.8% risk & 3.6% gain now for his actual 100$ account & next 5 trades he able profit all =18$ & total gain 108-100=8$ , 8% .
50/50 chance though not any good to stay confidently yet one can survive with good strategy of money management & if people do risk more % at times & take profit early also should be at more risk than the example case.

so conclusion ., only money management rather than any pips , profit % or smaller or bigger account size really matter though surely big account standard & mico have certainly some advantages over rest because % at risk can be reduced with available lots in most brokers .
fontu
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #451,348
  • May 28, 2011 11:08pm May 28, 2011 11:08pm
Quoting the redlion
i think our methodologies are different.

pips dont matter to me so much.

and loses are not acceptable

unless im trading against the trend, for safety of the book ill liquidate but if in the right direction no reason for losses
This isn't up for discussion mate...

And if we have different "methodology" I feel sorry for you as mine can and has been proven right. This is not something you can tweak, its more me saying 2+2=4 and you are saying naaahhh... maybe it is 3 or 5...

You can however be right short term, and you can beat the market with that strategy for probably 200+ trades but when you reach 500 or 1000, statistics are kicking in...


So, it doesn't really work that way, negative probability=loss

This is what you have in casinos, negative probability...

The house always wins... Gambling 101
  • #451,349
  • May 28, 2011 11:16pm May 28, 2011 11:16pm
http://www.facebook.com/pages/Macro-...74691629226392
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-29 07.59.gif Size: 23 KB
/ ... clarifying decisions ... /
  • #451,350
  • May 28, 2011 11:34pm May 28, 2011 11:34pm
Quoting Piters
Switch to the euro! The US should abandon the dollar and take up the euro as its currency. Sounds crazy? Un-American?

http://ftalphaville.ft.com/blog/2011...dopt-the-euro/

thought the amero was already in the post...
  • #451,351
  • May 28, 2011 11:43pm May 28, 2011 11:43pm
Quoting fontu
Morning to all .

To me trading micro 100$ or standard big one without any differences , it all depends upon the strategy & money management only . yes 100$ in a stardard or mini are not any better than in micro as micro can consider like a big account as of standard counting in cents .

It should be the % of money at risk at any given time or any set up or a single trade with relative % actually gained .
say one has 100$ in an account & traded 10 scalpings with only 2% at risk for each trade for target 4% profit nett and has got a 50% success...

Very true Fontu, kudos to you.

I have myself reached the barrier in trading some years back where the small account becomes pretty big and there is a massive change when you put in your savings....... mentally that is.

If you have 1000 dollar acc. and are making around 100-200 a week that is just ok and you are happy enough considering the size...

When you reach 100 000 you stop taking the same trades and you are happy with less, at least I am.

In the stock market I only have somewhere between 5-10 trades a week, following the warren buffet saying (If you diversify you don't know what you are doing). If all those trades goes well I really don't have to trade the next week.

If I risked the same as with that 1000 dollar account back in 2002-3 I didn't have to trade the rest of the year but this isn't a sprint and I like to trade so there is no reason for pushing it so hard, and if it went wrong it would take me a year to get it back without a salary. So this isn't really something I consider...

So anyway, there is a big difference mentally and I think where the big "famous" guys are getting known is that they have no limitations. They risk the same with a 100 million dollar account as with a 1000k account, very few people are that keen. Do you really need to make 5 million in a week?

I however find it stressful enough to loose 1-2k in a single trade... At least if it is Monday

keep picking trades from the top shelf and your demand for money will be met with supply at one stage... slowly... slowly....
  • #451,352
  • Edited May 29, 2011 12:11am May 28, 2011 11:57pm | Edited May 29, 2011 12:11am
Quoting FibbinArchie
wow, that's pretty good going if you've only been at it a year and you're already scalping the gbp...

personally i'd target 20 to 50 pips average per day... i scalp but on the one and two minute charts, which is quite different to the five minute, it really depends on your average trade frequency, stop distance and average pip gain per trade and on your win to loss ratio...

take a look at the attached, that is based on a steady 1% gain in account equity per trading day, the power of compounding...

use the tabs at the bottom to view years two...
btw I'm not suggesting for one second that this 1% a day is achievable right off the bat...

only after you have actually learned to trade and learned to not give too many or all of your profits back to the market, learn to avoid revenge trading and going full tilt at all costs. that, as i'm sure most would agree, is your arch enemy and the great white lurking in the deep end of your paddling pool...
Attached Image
  • #451,353
  • May 28, 2011 11:58pm May 28, 2011 11:58pm
Hi guys.....
I think trading with real money n demo account is different....
because no matter how many you earn or lose in a demo account, it just a number, you can open millions of demo accounts. therefore, you may not be patience and careful on making any trading decision. unless you treat them all as a number..

oh well, i have started trading with real account only for like 2 weeks, making loss at the moment...however, i have strong interests in forex since college and i still have the passion in it...to me..this learning process is very long..n you have to pay before you can take something home....~~I am still paying and learning from mistakes~~

here is a very good place to learn, we have gator, fontu and many other proffesional traders who willing to help newbies....

looking forward to monday!
another beginning of trading week......

green pips to all..
Patience, Emotion Control and Discipline.
  • #451,354
  • May 29, 2011 12:37am May 29, 2011 12:37am
Must be a short term long IMO, can't see this making 15000 but long until about 14500 surely, anyone agree?
I'm watching this currency so closely I'm using windows magnifier
  • #451,355
  • May 29, 2011 12:49am May 29, 2011 12:49am
Quoting Larseg
I think where the big "famous" guys are getting known is that they have no limitations. They risk the same with a 100 million dollar account as with a 1000k account,
somehow reminds me of the old Tudor Jones documentary "Trader" just done a search and it looks as though he may have had it removed from all the sites again, really don't know why he doesn't want anyone to see it...

I think I may have a copy buried somewhere on the hard drive of one of my old laptops, unfortunately I don't think it's feasible to post even if I do find it, as it looks as though he has turned up the heat on the copyright...
  • #451,356
  • May 29, 2011 12:49am May 29, 2011 12:49am
Quoting Moneyright
Must be a short term long IMO, can't see this making 15000 but long until about 14500 surely, anyone agree?
dunno about 1.5 near term but we didn't even touch it last time... i reckon we will break it before moving into the 1.1xx.. possibly 1.2xx
  • #451,357
  • May 29, 2011 12:54am May 29, 2011 12:54am
Quoting walb99
http://www.facebook.com/pages/Macro-...74691629226392
Good picture & views , I like it . think so too. whatever happen actually, no problem . Carry on good works .
fontu
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-29%2007[1].gif Size: 24 KB
Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #451,358
  • May 29, 2011 12:57am May 29, 2011 12:57am
Quoting fontu
Good picture & views , I like it . think so too. whatever happen actually, no problem . Carry on good works .
fontu
close above resistance in 434x area fontu and i would be in agreement, but not until. also greece debt is back in the spot light...
  • #451,359
  • May 29, 2011 12:58am May 29, 2011 12:58am
weekend=
Look Sharp/Trade Tight
  • #451,360
  • May 29, 2011 1:00am May 29, 2011 1:00am
Quoting FibbinArchie
close above resistance in 434x area fontu and i would be in agreement, but not until. also greece debt is back in the spot light...
Greece was always in the picture from 1.18 to 1.49.... didn't stop the climb... once again it'll go out of the spot light but still be a problem and will climb again if it wants to... 1.4340 is defiantely key here though from technical perspective
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