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Trading system using relative strength

  • #1,761
  • Jun 10, 2011 5:12am Jun 10, 2011 5:12am
Quoting niksan
Is any one trading on a live account? Or all the trades are on demo?
All my trades are all done in a live account.
Always a Student, Never a Master - Emulate What Works
  • #1,762
  • Jun 10, 2011 8:46am Jun 10, 2011 8:46am
Quoting niksan
Is any one trading on a live account? Or all the trades are on demo?
does it really matter?
  • #1,763
  • Jun 10, 2011 8:55am Jun 10, 2011 8:55am
Quoting ES Trader
does it really matter?
IMHO, yes! it does. The mindset changes while trading with real money. I may be wrong but that is what I observe.
  • #1,764
  • Jun 10, 2011 9:18am Jun 10, 2011 9:18am
It matters A LOT. There's is a whole different mindset that takes over when you have REAL money on the line. And the more you have at stake, the more it matters exponentially.

Imagine the difference of how a pro boxer performs...

against a sparing partner in the gym

VS how he performs against another pro fighter in a real boxing match in a small stadium

VS how he performs against the world boxing champion in a title match shown all over the world in front of a billion people on Pay-Per-View where he gets the title of world champion and 20 million dollars if he wins.

So how you trade on demo VS how you trade with real money IS a BIG DIFFERENCE, especially emotionally.
Always a Student, Never a Master - Emulate What Works
  • #1,765
  • Jun 10, 2011 9:26am Jun 10, 2011 9:26am
Quoting RobinHood
It matters A LOT. There's is a whole different mindset that takes over when you have REAL money on the line. And the more you have at stake, the more it matters exponentially.

Imagine the difference of how a pro boxer performs...

against a sparing partner in the gym

VS how he performs against another pro fighter in a real boxing match in a small stadium

VS how he performs against the world boxing champion in a title match shown all over the world in front of a billion people on Pay-Per-View where he gets the...
Nice analogy Rob,
  • #1,766
  • Jun 10, 2011 9:45am Jun 10, 2011 9:45am
It is a nice analogy. But the point being left out, is that the reason the champion boxer is a champion, is because he treats every fight the same. Even the pratice fights. Maybe, especially the pratice fights.

I am surprised by the number of childish assumptions that are being made around here: If your post count is small you are an inexperienced noobie. If you post pictures of demo accounts it means you don't trade live, etc. Meh.

Demo accounts are an important tool for the professional trader. I open new demo accounts every couple of weeks with various brokers just to stay fresh. I learn quite a bit about the broker, as well as important information about their feeds -- it's amazing what you can learn from having up feeds from 3 or 4 brokers at the same time. Some brokers even offer cash incentives. The bottom line is, just because you have live accounts does not mean you never trade demo again. And I for one will never post pix of a live account in a public forum so a demo account is good for at least one thing, if not more. (There is much more, believe it.)
To improve is to change. To perfect, is to change often.
  • #1,767
  • Jun 10, 2011 9:59am Jun 10, 2011 9:59am
New Basket. Almost all sell Except for one pair. In both 4 hr and daily current bar
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  • #1,768
  • Jun 10, 2011 10:00am Jun 10, 2011 10:00am
I'll give you just one GREAT REASON why you should always open new demo accounts periodically AND have some demo accounts at all times.

A few weeks ago a broke-r gave me a "courtesy call" to introduce himself. He then asked me to open a demo account, and I agreed.

He then called again about a week later and asked if I wanted to open a "Live Account" with them. I said NO because your demo platform does X and there is no way I would trade real money with you just based on that. He eliminated that problem and I immediately opened a live account with them.

Then he called again yesterday and asked me why I didn't trade more with them. I said because your spreads are TOO HIGH compared to IB where I trade HEAVILY and have for a long time. He said, what if I get your spreads CUT IN HALF? I said "I'M IN !!!"

That will save me 1000's of dollars a year.

So if I had never of opened a demo account with them and USED IT, I would never have gotten the deal I just outlined.
Always a Student, Never a Master - Emulate What Works
  • #1,769
  • Jun 10, 2011 10:04am Jun 10, 2011 10:04am
Woh! closed with 48 + pips. It took less than 5 minutes.

Can't thank you enough FH for this great template
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  • #1,770
  • Jun 10, 2011 10:08am Jun 10, 2011 10:08am
Quoting RobinHood
I
....what if I get your spreads CUT IN HALF? I said "I'M IN !!!"

That will save me 1000's of dollars a year.

So if I had never of opened a demo account with them and USED IT, I would never have gotten the deal I just outlined.
You settled for a 50% cut? SUCKER!!! j/k
To improve is to change. To perfect, is to change often.
  • #1,771
  • Jun 10, 2011 10:11am Jun 10, 2011 10:11am
Quoting forexhard
You settled for a 50% cut? SUCKER!!! j/k
LOL...I'll take a 1/2 pip spread on the EURUSD and 2.5 pips on the GBPJPY all day long, not to mention all the others!
Always a Student, Never a Master - Emulate What Works
  • #1,772
  • Jun 10, 2011 10:13am Jun 10, 2011 10:13am
Quoting ES Trader
Woh! closed with 48 + pips. It took less than 5 minutes.

Can't thank you enough FH for this great template
You're very welcome. But with such a large basket it's OK to let it run longer than just 5mins. Reason being, it's highly unlikely that so many pairs will go against the indi. Golden Rule #whatever: Trade the small baskets cautiously and be more flexible with the large ones.
To improve is to change. To perfect, is to change often.
  • #1,773
  • Jun 10, 2011 10:18am Jun 10, 2011 10:18am
Quoting forexhard
You're very welcome. But with such a large basket it's OK to let it run longer than just 5mins. Reason being, it's highly unlikely that so many pairs will go against the indi. Golden Rule #whatever: Trade the small baskets cautiously and be more flexible with the large ones.
Makes sense. Actually I had an EA to close at 100 pip target. But because there were so many trades to close, by the time Ea closed ALL the pairs the profit shrunk to 48 pips. Actually there was a total of 110 pip plus.
  • #1,774
  • Jun 10, 2011 10:19am Jun 10, 2011 10:19am
RH, tried to PM you but you have it turned off or something. You don't talk to us little guys, or what? LOL
To improve is to change. To perfect, is to change often.
  • #1,775
  • Jun 10, 2011 10:25am Jun 10, 2011 10:25am
Quoting ES Trader
Makes sense. Actually I had an EA to close at 100 pip target. But because there were so many trades to close, by the time Ea closed ALL the pairs the profit shrunk to 48 pips. Actually there was a total of 110 pip plus.
Then maybe have the EA primed for 2 or 3 basket sizes, each with a progressively higher TP margin -- like maybe 1-5 pairs (TP 30 pips), 6-10 pairs (TP 100 pips), and 10> pairs (TP 150 pips).

Still and all, 48 pips is nothing to sneeze at. A fund trader would have made 100,000 with those 48 pips and called it a very good end to the week.
To improve is to change. To perfect, is to change often.
  • #1,776
  • Jun 10, 2011 10:30am Jun 10, 2011 10:30am
Quoting forexhard
RH, tried to PM you but you have it turned off or something. You don't talk to us little guys, or what? LOL
Evidently PM's are off by default because I don't remember ever turning them off, but who knows, I just turned it on, hit me up.
Always a Student, Never a Master - Emulate What Works
  • #1,777
  • Jun 10, 2011 10:45am Jun 10, 2011 10:45am
Quoting RobinHood
Evidently PM's are off by default because I don't remember ever turning them off, but who knows, I just turned it on, hit me up.
Done...
To improve is to change. To perfect, is to change often.
  • #1,778
  • Jun 10, 2011 10:52am Jun 10, 2011 10:52am
I agree ES. My dashboard is going crazy too. Looks like the US banks are trying th claw back from the edge. EUR going down, USD going up, and a lot of cross-currency hedging going on in-between.
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To improve is to change. To perfect, is to change often.
  • #1,779
  • Jun 10, 2011 11:06am Jun 10, 2011 11:06am
Quoting forexhard
Done...
Replied
Always a Student, Never a Master - Emulate What Works
  • #1,780
  • Jun 10, 2011 11:22am Jun 10, 2011 11:22am
  •  sym
  • Joined Apr 2011 | Status: Working... (too much) :) | 356 Posts
Quoting forexhard
I agree ES. My dashboard is going crazy too. Looks like the US banks are trying th claw back from the edge. EUR going down, USD going up, and a lot of cross-currency hedging going on in-between.
Hi FH and everybody

I don't feel like bothering you, but... :-)
are you using 2 different indi???? Have I missed something?
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